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Dabur slams IAC allegations

IANS  New Delhi, November 10, 2012
First Published: 00:36 IST(10/11/2012) | Last Updated: 00:38 IST(10/11/2012)

Dabur company on Friday denied charges levelled by India Against Corruption (IAC) that the three Burman brothers, who own the company, had accounts with HSBC in Geneva.


"There have been some reports in the media pertaining to the foreign bank accounts of some Burman Family members, promoters of Dabur. We wish to state that these accounts were opened by the Burman family members when they were NRIs, and were legally allowed to open such accounts," a statement issued by the company said.

"The amount being referred to in the media, pertaining to these accounts, has been officially remitted from India through official banking channels and as per applicable FEMA guidelines. These amounts have been sent out of the declared and tax assessed incomes received in India," it said.

"The complete details regarding the remittances have been voluntarily, and as per law, filed with the Income Tax Department, and appropriate taxes paid as applicable. Therefore, it is unfortunate that every person having a foreign bank account is being painted with the same brush," it added.

"At Dabur, we are committed to the highest standards of corporate governance, and encourage ethical behaviour at all levels. Moral and ethical standards are cornerstones of our group's value system and we nurture these at all times," the statement said.

Activist-politician Arvind Kejriwal had made allegations in a press conference that in July 2011, the Indian government received a list of roughly 700 people having bank accounts in HSBC, Geneva.

According to him, the list named the Ambani brothers as having Rs. 100 crore each in Swiss banks, Congress MP Annu Tandon ( Rs. 125 crore), an equal amount in the name of her late husband Sandeep Tandon, and Jet Airways' chief Naresh Goyal ( Rs. 80 crore).

The three Burman brothers who own Dabur have Rs. 25 crore in Swiss banks while Yashovardhan Birla and Kokila Dhirubhai Ambani's accounts have no balance, he alleged.

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