ED probing Goa co Timblo in mining scam, laundering case

Goa-based mining company Timblo Private Limited, named by the Centre in an affidavit for allegedly stashing blackmoney in foreign banks, is already being probed for charges of money laundering by the Enforcement Directorate (ED) in a mining scam case.
Sources said the agency has issued summons to the firm and its directors sometime back after it registered a criminal case in the Rs 35,000-crore Goa illegal mining scam in the beach state, which was earlier investigated by the MB Shah Commission for alleged large-scale irregularities.
"The company is one among many in the state being probed by the agency in the illegal mining money laundering case. They have been issued preliminary notices for want of documents," an agency source said.

The list submitted by the central government in the Supreme Court yesterday mentioned the name of the firm and its directors Radha Satish Timblo, Chetan S Timblo, Rohan S Timblo, Anna C Timblo and Mallika R Timblo.
However, it was not clear whether the account holder is the company or its directors.
Reacting to these developments, Radha Timblo today said she had "no undisclosed bank account abroad".

"My conscience is very clear. We have paid all the taxes. We have no undisclosed bank accounts in India or abroad," she said in Panaji.
Officials said ED has asked the company to furnish details of the business operations and their financial transactions over the last few years as it looks to take the probe further in this mining case.

ED had in June registered a complaint under the provisions of the Prevention of Money Laundering Act (PMLA) after taking cognisance of the reports of the Commission, the inquiry boards constituted in this regard and also an FIR filed by Goa police's Crime Branch last year in August.