Black money list: Radha Timblo was operating mine on a Pakistani's behalf
Panaji: Goan mining magnate Radha S. Timblo, accused of stashing black money in a Swiss bank, was indicted by an apex court committee in 2012 for illegally operating a mining lease with a questionable power of attorney executed by a Pakistani national.
A judicial commission headed by former Supreme Court Judge M.B. Shah probing Goa's mammoth illegal mining scam had also named a Radha Timblo-operated firm of illegal mining practices.
Shah now heads the central government's Special Investigating Team probing black money stashed by Indian nationals in foreign banks.
The apex court's Central Empowered Committee (CEC) which was probing several aspects of Goa's illegal mining scam, in its report to the Supreme Court said that the Timblo's company had been operating a mine in the name of a foreign national, which is a violation of the Mining Concession Rules, 1960.
"The ownership and control of the said lease by the Timblo family (via firm Timblo Pvt. Ltd.) was justified by them by producing before the state government another power of attorney dated November 5, 1997, stated to have been executed by Mavani in favour of Radha S. Timblo. In the said power of attorney, it is mentioned that Mavani is staying in Karachi, Pakistan," the CEC report had said, adding that the power of attorney was neither notarized, nor signed in witnesses' presence.
The CEC probe was ordered by the apex court on the heels of the Shah Commission report which in 2011 uncovered a Rs.35,000-crore scam in which politicians, bureaucrats and nearly every big mining company, including Timblo Private Limited, was linked.
"The state of Goa was fully aware of the serious illegalities involved. However, instead of taking punitive action in accordance with the law, it disregarded the serious illegalities and chose to grant renewal of the mining lease in favour of the partnership firm owned and under control of Timblo family, which should not have been permitted," it added.
The Justice Shah report had also said that the Timblo-run company was under-invoicing iron ore exported by it.
Speaking to reporters outside her office, Radha Timblo said that she would issue a press statement only after a going through the affidavit filed by the central government in the Supreme Court.
"I will give my reaction to the Supreme Court," she added.
Timblo, along with Dabur's Pradip Burman and Rajkot-based builder Pankaj Lodhia, has been named by the central government in its affidavit for having black money stashed abroad.