The Enforcement Directorate has decided to send a team of investigators to Switzerland, Singapore, U.A.E. and the U.K. to gather data on investments and assets of stud farm owner Hasan Ali Khan who is being probed for allegedly evading income tax of over Rs. 50,000 crore.
The move has come as the Directorate is looking to build a watertight case against 53-year-old Mr. Khan after it booked him on money laundering charges earlier this year and submitted its probe report to the Supreme Court.
The two-member team from the Mumbai unit of the ED will tour these countries with Letters Rogatory (LRs) which were issued earlier to these nations after it arrested Mr. Khan in March this year.
Mr. Khan has recently been booked by the Hyderabad Police Crime unit for allegedly obtaining a passport by illegal means.
A probe report will also be submitted to the Supreme Court in this regard once investigations are complete.
“This would strengthen our case as obtaining passport through fraudulent means is an offence under the Prevention of Money Laundering Act (PMLA),” sources said.
The Pune-based businessman leads the list of top 10 income tax defaulters in financial year 2008-09 in the country, who together owe more than Rs. 80,000 crores in taxes.
The businessman owes Rs. 50,345.73 crore in taxes for assessment year 2009-10. He and his associates will now have to pay the government Rs. 89,000 crore, including penalties, according to government data.
Accused of stashing away $8 billion of unaccounted money in foreign banks, Mr. Khan is being investigated by the the Income Tax department as well for tax evasion.