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Tuesday, August 16, 2011

BLACKMONEY ABROAD: Supreme Court stays release of Hasan Ali on bail!

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PTI / The Hindu / NEW DELHI, August 16, 2011.

Hasan Ali Khan
Hasan Ali Khan.

The Supreme Court on Tuesday stayed the release of Pune-based stud farm owner Hasan Ali Khan, accused in money laundering cases, on bail which was granted by the Bombay High Court.

A three-judge bench headed by Justice Altamas Kabir said the effect of the Bombay High Court’s order granting bail to him shall not be operational till Thursday.

The court passed the order on a petition filed by the Enforcement Directorate challenging the high court’s order granting bail to Khan, who has been accused in various money laundering cases.

“Let the matter be listed on Thursday. In the meantime, order of Bombay High Court of August 12 on bail shall not be given effect to,” the bench said.

“The documents reveal that Hasan Ali Khan has huge funds in his accounts to the extent of 800 million US dollars with a bank outside India,” the Enforcement Directorate contended.

The agency, in its petition, alleged that various transactions led by Khan through his foreign bank accounts reveal his association with international arms dealer Adnan Khashoggi.

“The documents point to deep linkage between Khan and Khashoggi,” the agency further said while pressing for stay on Bombay High Court’s order granting bail to Khan.

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