The Bombay High Court on Tuesday granted bail to Kashinath Tapuria, a Kolkata-based businessman and close aide of Hasan Ali, on health grounds.
The bail was granted on a surety of Rs. 50,000 and on the condition that he will not leave Mumbai without the permission of the court.
Mr. Tapuria was arrested in March 2011 under the Prevention of Money Laundering Act (PMLA). He sought the bail for undergoing treatment in a hospital in Mumbai.
According to the Enforcement Directorate, Mr. Tapuria allegedly accompanied Hasan Ali to Singapore in 1997 to operate his Swiss bank accounts. It was alleged he had the power of attorney to operate Mr. Ali’s accounts. Mr. Ali is facing charges of money-laundering and stashing away huge amounts of black money in banks abroad.