Friday, March 4, 2011

Black money trail: ED issues 'Look out Circular' against Hasan Ali

NEW DELHI: The Enforcement Directorate has issued a 'Look Out Circular' against Pune-based stud farm owner Hasan Ali Khan, accused of stashing black money abroad, to prevent his escape from the country.

The circular has been issued so that Khan is not able to escape the country pending investigation by various agencies, sources said.

Khan, who is alleged to have stashed around USD 8 billion in foreign banks, had been earlier served a notice for a tax demand for about Rs 50,000 crore in 2009.

Sources also indicated that Khan and his associates will be summoned for a new round of questioning by a joint team of law enforcement agencies-- Income Tax department and Economic Offences Wing of the Maharashtra government.

Earlier, the ED office in Mumbai had issued a nation-wide alert in connection with Khan's dealings to obtain information about his investments and transactions in the country.

The ED, Income Tax department along with the Economic Offences Wing (EOW) of Maharashtra are probing the illegal investments and charges of money laundering against Khan.

The ED also wants to obtain all possible information from various state and central law enforcement agencies about the finances of Khan in its probe to track his money trail, sources said.

The action against Khan comes a day after the Supreme Court came down heavily on the Centre on the issue of black money hoarders and asked why Khan and other alleged offenders were not being subjected to custodial interrogation despite probe agencies possessing sufficient material.

On February 11, the Supreme Court had asked the Centre to ensure that Khan did not leave the country in connection with the black money case.

No comments:

Post a Comment