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The Enforcement Directorate (ED) initiated the action under the provisions of the Foreign Exchange Management Act (FEMA).

ED seizes Rs 20.87 crore assets of Dabur’s Pradip Burman in probe of HSBC black money list

Press Trust of India, New Delhi | By Press Trust of India
PUBLISHED ON MAY 22, 2018 03:08 PM IST
ED said the assets were seized after it was found that Burman deposited $32.12 lakh in his account with HSBC bank in Zurich in Switzerland and that he “did not” show this amount in his IT Returns filed during 2007-08 despite declaring it to the taxman that this was his earning.
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