BLACKMONEY ABROAD: SC stays Hasan Ali's release till September 2!

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Press Trust Of India / ibnlive.in.com / Updated Aug 25, 2011 at 09:24pm IST.

New Delhi: The Supreme Court on Thursday extended till September 2 the stay on the release on bail of Pune-based stud farm owner Hasan Ali Khan who is accused in money laundering cases.

The bail was granted earlier by the Bombay High Court. A bench of justices Altamas Kabir and SS Nijjar extended the stay after Additional Solicitor General Haren Rawal, at the fag end of the day-long hearing on the black money issue, told the court that the stay granted earlier would expire on August 26.

The bench then extended the stay till September 2 as the hearing on the issue would resume on September 1.

The apex court had on August 16 stayed till August 26, the bail granted to Hassan Ali by the Bombay High Court on August 12.

The court had 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.

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http://ibnlive.in.com/news/sc-stays-hassan-alis-release-till-september-2/178585-3.html

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.

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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http://www.thehindu.com/news/national/article2361504.ece

BLACK MONEY: Bombay High Court grants Hasan Ali bail!!

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NDTV Correspondent, Updated: August 12, 2011 16:39 IST.

Mumbai:  The Bombay High Court has granted bail to stud farm owner Hasan Ali Khan, on a cash surety of Rs. 5 lakh. Ali, 58, who allegedly has 8 billion dollars stashed in Swiss banks, is accused of money laundering.

The conditions are that Ali is not allowed to leave Mumbai, has to present his passport and be available for further questioning by the Enforcement Directorate (ED) and the Income Tax (I-T) Department. Ali collapsed in court after the order.

Ali's money trail first emerged in 2008, when the I-T department told the Bombay High Court about his tax evasion. His Swiss accounts were revealed during a raid.

Ali's is a classic case of rags to riches - though not without its brushes with the law. Till the late 1990s, Ali, along with his wife Mehbooba Khan and two sons, lived in Banjara Hills - one of the most expensive addresses in Hyderabad.

Here, between 1990 and 1992, he was an accused in six cheating cases. As a result his detractors gave him the title of Chor Hasan.

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http://www.ndtv.com/article/india/bombay-high-court-grants-hasan-ali-bail-126228

BLACK MONEY: Hasan Ali stashed $800 mn in foreign banks: ED!

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PTI / The Hindu / MUMBAI, July 18, 2011.

Hasan Ali Khan being taken to Sessions Court in Mumbai. File photo - The Hindu.

Hasan Ali Khan, arrested for alleged money laundering, has stashed $800 million in banks in countries like the U.S., Switzerland and Singapore and has links with officials of these banks, the Enforcement Directorate told the Bombay High Court on Monday.

Justice A.M. Thipsay was hearing a bail application filed by Mr. Khan after a sessions court rejected his bail plea. The matter will be heard on July 26.

“Khan and his aide Kashinath Tapuriah have deep links with bank officials in the US, Switzerland, Singapore, UAE and other countries. These officials have assisted the duo in operating bank accounts and transfer of funds,” the affidavit states.

Letters Rogatory have been issued to Switzerland, the U.S., the U.K., UAE, Singapore and Hong Kong for verification of bank accounts, the affidavit said, adding as of now only the U.S. has sent a reply.

“Reply to Letters Rogatory from the US confirms that an amount of USD 7,00,000 was transferred from Bank Sarasin, Switzerland to an account in New York operated by Khan,” Additional Solicitor General Darius Khambatta, appearing for ED, argued.

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http://www.thehindu.com/news/national/article2247796.ece?homepage=true

HASAN ALI KHAN CASE: ED attaches Hassan's, Kashinath Tapuriahs' property!

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The Enforcement Directorate issued a showcause notice for attachment of properties valued at Rs 50 crore of Pune stud farm owner and alleged tax defaulter Hassan Ali Khan and his Kolkata-based associate Kashinath Tapuriah in a money laundering case.

The ED issued the order under the stringent Prevention of Money Laundering Act (PMLA) after it got the approval of the adjudicating authority of the law, which is based in the national capital, and it includes immovable properties in Delhi, Mumbai and Pune of the duo, official sources said.The ED will now begin proceedings for attachment of these properties.

 The immovable property of Hasan Ali attached in Pune includes three floors of the five storeyed "Tulip" building in Koregaon Park area where Ali lived. The court order also attached his movable property,covering six cars including three Mercedes and 32 horses kept at stables of Royal Western Indian Turf Club (RWITC) in Mumbai and Pune, sources said

"An attachment order and showcause notice has been issued to us under the Prevention of Money Laundering Act by the Enforcement Directorate. We will appeal against it," Ali's lawyer RK Gaur said.

The attachment order notice, according to sources, also includes Ali's high-end imported cars, including Mercedes, Porche and others, a flat in Pune's posh Koregaon Park area and a residential building in Mumbai and Tapuriah's property on Prithviraj Road in Delhi.

Pity still there are thousands of crores stashed away abroad which are yet to be confiscated!

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http://english.samaylive.com/nation-news/676489648/ed-attaches-hassan-s-tapuriah-s-property.html

Hasan Ali: Difficult to recover taxes from Hasan Ali, says I-T official

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PTI | Jun 9, 2011, 10.05pm IST / Times of India.

NEW DELHI: The Income Tax department on Thursday expressed difficulty in recovering Rs 74,000 crore tax claims from Pune-based stud-farm owner Hasan Ali Khan, saying he does not have enough assets.

"Hasan Ali does not have enough assets to meet the tax liability," an I-T department official said.

Khan, who is accused of stashed huge funds in tax havens, was taken into custody by the Enforcement Directorate on March 17 and later sent to a Mumbai jail. 

Everybody knows that such people don't keep the major portion of assets in their name and most likely in foreign bank accounts in tax-haven countries.

Investigative agencies work harder than that are enlist the professional fraud detectors, for the purpose.

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http://timesofindia.indiatimes.com/india/Difficult-to-recover-taxes-from-Hasan-Ali-says-I-T-official/articleshow/8792125.cms