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Black money: SC stays Hasan Ali release
India Blooms News Service
New Delhi, Aug 16 (IBNS) The Supreme Court on Tuesday stayed the release of India’s alleged biggest tax evader Hasan Ali Khan, who was granted bail by the Bombay High Court.
"Let the matter be listed on Thursday (Aug 18). In the meantime, order of Bombay High Court of August 12 on bail shall not be given effect to," said a three-judge bench headed by Justice Altamas Kabir.
The apex court pronounced the order on a petition filed the Enforcement Directorate (ED) challenging the Bombay High Court verdict.
"The documents reveal that Hasan Ali Khan has huge funds in his accounts to the extent of $ 800 million with a bank outside India," the ED said in its petition.
"The documents point to deep linkage between Khan and international arms dealer Adnan Khashoggi," the ED petition read.
The Bombay High Court on Aug 12 granted bail to India’s alleged top tax evader Hasan Ali Khan, arrested in a multi-crore money laundering scam.
The high court released Ali on bail against a personal surety of Rs 5 lakh.
On July 1, a Mumbai sessions court rejected Ali’s bail plea, as the Enforcement Directorate (ED) began the process for attaching his properties in connection with the money laundering case.
According to reports, the ED issued a showcause notice under Prevention of Money Laundering Act (PMLA) to attach Ali’s properties in Delhi, Mumbai and Pune valued at Rs 50 crore.
Dubbed India’s biggest tax evader, Ali, was arrested on Mar 7 after he was taken by the Enforcement Directorate for interrogation. He is believed to have over 8 billion dollars in illicit funds stashed away in offshore accounts.
Ali has been asked to pay Rs 70,000 crore as penalty for evading tax, but his lawyer claims the Pune-based stud farm owner, known for his lavish cars, homes, horses and parties, is innocent.
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