Press Release Regarding Foreign Bank Accounts

Friday, November 09, 2012

 

New Delhi, November 9, 2012: There have been some reports in the media pertaining to the foreign bank accounts of some Burman Family members, promoters of Dabur. We wish to state that these accounts were opened by the Burman family members when they were NRIs, and were legally allowed to open such accounts. The amount being referred to in the media, pertaining to these accounts, has been officially remitted from India through official banking channels and as per applicable FEMA guidelines. These amounts have been sent out of the declared and tax assessed incomes received in India. The complete details regarding the remittances have been voluntarily, and as per law, filed with the Income Tax Department, and appropriate taxes paid as applicable. Therefore it is unfortunate that every person having a foreign bank account is being painted with the same brush.

 

At Dabur, we are committed to the highest standards of corporate governance, and encourage ethical behavior at all levels. Moral and ethical standards are cornerstones of our group's value system and we nurture these at all times.

 

For Details :

Mr. Byas Anand Corporate Communications Dabur India Limited PH:- 95120-3982000, 3001000 extn 2101/2547 Fax: 95120-4374935 Email:corpcomm@dabur.com