Radha Timblo, one of the five directors of Timblo Pvt ltd who has been named by the Central Government for stashing black money in offshore accounts, was earlier indicted by the Supreme Court-appointed Central Empowered Committee (CEC) to verify and advise the court on the Rs35,000 crore Goa mining scam.

Timblo, a Goan mining magnate, was operating a mining lease owned by a Pakistani national of Goan origin following Partition."I will have to study the affidavit first," she said, when asked for comment by reporters waiting outside her office. "I will give my reaction to the Supreme Court," she said.

"The ownership and control of the said lease by the Timblo family (via firm Timblo Pvt. ltd) was justified by them by producing before the State Government another power of attorney dated November 5, 1997 stated to have been executed by Mavani in favour of Radha S Timblo. In the said power of attorney, it is mentioned that Mavani is staying in Karachi, Pakistan,” the CEC report had said.

The report questioned how a power of attorney which was neither notarised, nor signed in witnesses' presence could be considered as a valid document.

The CEC was constituted by the Supreme Court Forest Bench, which took up a petition filed by the Goa Foundation, on the basis of the the Justice MB Shah commission report into Goa mining illegalities. Shah, incidentally now heads the Central Government's Special Investigating Team probing black money stashed by Indian nationals in foreign banks.

The CEC said that Timblo's mine was illegal as it is in violation of the Mining Concession Rules 1960.The Shah Commission report tabled in parliament in 2012 pegged the value of the scam to Rs35,000 and led to the nearly three year closure of mining in Goa in which politicians, bureaucrats and nearly every big mining company, including Timblo private limited were named.

"The State of Goa was fully aware of the serious illegalities involved. However, instead of taking punitive action in accordance with the law, it disregarded the serious illegalities and chose to grant renewal of the mining lease in favour of the partnership firm owned and under control of Timblo family, which should not have been permitted," it further said.

The Justice Shah report had also said that the Timblo-run company was under-invoicing iron ore exported by it.The Congress in Goa, meanwhile, has claimed that the release of names by the Central Government was an act of selective targeting of individuals. Goa party spokesperson Sunil Kawthankar, however, denied his party's links to Timblo.