As the Narendra Modi government revealed names of three black money account holders on Monday, two of them defended themselves. While Dabur denied any wrongdoing by its former executive director Pradip Burman, promoter of the Rajkot-based Shreeji Trading Company Pankaj Chimanlal Lodhiya said he was shocked to see his name on the list.

"We wish to state that this account was opened when he was an NRI, and was legally allowed to open this account. We have followed all the laws and the complete details regarding the account have been voluntarily, and as per law, filed with the Income Tax Department, and appropriate taxes paid, wherever applicable. Therefore, it is unfortunate that every person having a foreign bank account is being painted with the same brush," Dabur said in a statement defending Pradip Burman.

"I am shocked that the government named me," said Lodhiya in his statement. "I don't have a Swiss account. I am getting to know about the proceedings against me from the media. I will reply to the Supreme Court accordingly," he said.

These reactions came after the central government on Monday revealed the names of three people who have black money stashed abroad in its affidavit to the Supreme Court. Burman, Chimanlal Lodhiya and Radha S Timbola, a Goa based miner feature in the Centre's much awaited list of black money account holders.