Pradip Burman named in black money case: Who is this former Dabur exec?

The government today disclosed three names in an affidavit to the Supreme Court in connection with illegal accounts held abroad. One of the name that they revealed was of Pradip Burman, the former director of Dabur.

According to Burman’s profile in the company page, he served as an Executive Director at Dabur India Ltd. from 1 May, 2007 until 31 January, 2012.

Burman holds a B.Sc degree in Mechanical Engineering from MIT (USA).

As of 30 September 2014, Pradip Burman holds 3.94 lakh shares of Dabur India whose current worth is at Rs 8.16 crore at a current price of Rs 207 per share.

Reacting to the newsofPradip Burman being named by the government in the black money case, a Dabur spokesperson said the account was opened when he wasan NRI.

A Dabur spokesperson said, “We wish to state that this account was opened when he was an NRI, and was legally allowed to open this account. We have followed all the laws and the complete details regarding the account have been voluntarily, and as per law, filed with the Income Tax Department, and appropriate taxes paid, wherever applicable.”

The group also said it was unfortunate that every person having a foreign bank account is being painted with the same brush.

The Dabur Group also asserted that they followed all laws and complete details regarding the account have been voluntarily filed with the Income Tax Department.

Following the news, shares in Dabur India fell as much as 9 percent.

Dabur, India’s fourth largest FMCG company, has interests in hair care, oral care, skin care, health care, home care and food products.