The Competition Commission of India has approved the acquisition of 31.27 per cent of additional stake in Religare Enterprises by four entities of Dabur India promoter Burman family, enabling them to become majority owners in the financial services firm. The fair trade regulator allowed the four entities to acquire Religare's 5.27 per cent through stock market purchase and another 26 per cent through an open offer.
Burman held an undisclosed, yet, active account in an HSBC branch in Zurich
According to the latest shareholding pattern of Dabur, Pradip Burman, who is part of the promoter group, holds 0.02 per cent stake in the company.
A case was registered against Burman under the Income Tax Act for the offences relating to concealment of income and tax evasion.
Burman had sought permission to travel to Dubai from May 3-7.
The court had earlier allowed Burman twice to go abroad, including a trip to London to attend his ailing brother there.
According to the IT department's complaint, Burman was holding foreign bank accounts but he had not disclosed about it in his income tax returns and there were undisclosed deposits in those two accounts.
His remark comes hours after the government disclosed before the Supreme Court eight more names, including that of Pradip Burman, one of Dabur India promoters, a bullion trader and a Goa miner against whom it has started prosecution for allegedly stashing black money in foreign banks.
With one of its members, Pradip Burman, being named as an account holder in a foreign bank in the black money issue, Dabur India promoter family, Burmans on Monday said the account complied with all legal requirements.
The government on Monday disclosed before the Supreme Court eight more names including that of Pradip Burman, one of Dabur India promoters, a bullion trader and Goa miners against whom it has started prosecution for allegedly stashing blackmoney in foreign banks.
Burman did not file the details of foreign account on the ground that he did not have its statements.
The Centre on Wednesday placed a list of names of 627 Indian account holders in HSBC bank, Geneva in the black money case before the Supreme Court which asked a Special Investigation Team to go through the list and take appropriate action in accordance with law.
