Pradip Burman, a promoter-shareholder of Dabur India, has described the Enforcement Directorate’s seizure of his assets to the tune of ₹20.87 crore as “unmerited and unlawful”. “The seizure order of some bonds of Pradip Burman under Section 37 A of FEMA is unmerited and unlawful. It is based on suspicion and conjectures without there being lawful evidence or material justifying the same,” a statement released by the Family Office of Pradip Burman said. “There is no show-cause notice, let alone any lawful order against Pradip Burman holding him to be in default under FEMA. This order and issue involved is being contested by us and we are confident that we will get justice and relief under law from the authorities/courts,” the statement added.

This move by the ED came after it took over the case on the basis of a chargesheet filed by the Income Tax Department against Burman. His name appeared in the leaked HSBC list of 628 Indians with accounts in HSBC Bank’s Geneva branch.

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