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The country's highest court -- the SupremeCourt of India -- on Tuesday mulled invoking

terror and other stringent penal chargesagainst Pune stud-farm owner Hassan Ali Khanwho has been accused of massive moneylaundering and tax evasion and for his allegedlinks with arm dealers and people linked toterror activities.

So just who is this mysterious Hassan Ali Khan?How did he manage to become India's largesttax defaulter with dues allegedly over Rs 50,000crore (Rs 500 billion) Read on to find out. . .Hassan Ali Khan is a Pune-based stud farmowner, but says that he is a scrap dealer with

an annual income of Rs 30 lakh (Rs 3 million).However, the fact that he throws lavish parties,owns many super expensive cars, has a studfarm, dabbles in horse racing and has severalproperties in major Indian cities do not gel wellwith his claims of his annual income.


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He was the main accused in a caseinvolving alleged money laundering tothe tune of $8 billion (Rs 39,120 crore),and suspected tax evasion.The Mumbai Income-Tax department

had sent him a notice demanding Rs50,000 crore (Rs 500 billion) for notdisclosing funds in several foreign bankaccounts, including $8 billion in anaccount in UBS AG, Zurich.He is said to be the country's highest

tax defaulter with dues allegedly overRs 50,000 crore.This tax liability of Hassan Ali wasconfirmed by the government onAugust 4, 2009. The government, whiledisclosing the list of tax defaulters in

the Rajya Sabha, stated that HassanAli Khan topped the list of taxdefaulters with outstanding arrears of'more' than Rs 50,000 crore.


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The government had said that the dues, if interestfor belated payments was included, exceeded Rs70,000 crore (Rs 700 billion)!Khan's father was an excise officer. Hailing from aHyderabadi family based at Musheerabad,

Hassan Ali has a brother and four sisters.How Khan came into big money is not very wellknown, but it is said that before becoming a'scrap dealer' he tried out his hand at many things:he was into the antiques trade, then he dabbledin a bit of finance. . . he is even said to have

allegedly conned people into believing that hewas a descendant of Hyderabad royal Nizamfamily.Later he entered racecourses, getting into horseracing big time -- in Pune and Mumbai. Once hisracing business began to work, he moved to Pune

with his current wife Rheema with whom he isoften seen at the races.His first wife was Mahboobunnissa Begum, whomhe divorced in 1999. Mahboobunnissa now liveswith her two sons at Banjara Hills in Hyderabad.


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In March 2007, Hyderabad Police Commissioner Balwinder Singh hadsaid at a press conference that two cases of bank fraud, four cases ofcheating and a case of acid attack on a doctor were lodged againstHassan Ali in various police stations in Hyderabad.According to senior police officials, in 1990, the manager of State Bankof India, Charminar branch, Hyderabad had lodged a complaintstating that Hassan Ali had fraudulently withdrawn a total of Rs 26 lakh(Rs 2.6 million) on three occasions against cheques that later bounced.A similar case was lodged for defrauding the Grindlays Bank.In September 1991, the central government had announced anamnesty scheme wherein it allowed Indian citizens to get foreignexchange from outside. Subsequently at least four personsapproached Hassan Ali, who promised them demand drafts in dollars.He had allegedly collected Rs 10.35 lakh (Rs 1.035 million) from SureshMehta, Rs 6.29 lakh (Rs 629,000) from Rajesh Gupta, Rs 36 lakh (Rs 3.6million) from T Ramnath and Rs 18.22 lakh (Rs 1.822 million) from P Rama

Koteswara Rao.He then produced 'international money orders' and handed overdemand drafts to them to encash the dollars. However, the customersfound the DDs to be fake and lodged complaints with the police in1992.The Hyderabad City police had arrested Hassan Ali twice between

1991 and 1992, once for allegedly cheating the State Bank ofHyderabad and the next time for duping private persons.


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The police had caught him in 1991 with thehelp of Interpol and the Canadian policefor cheating the SBH. On the pretext that

his mother was ill in Toronto, he had fled toCanada after a case was registeredagainst him.The Hyderabad police had alerted Interpolabout Hassan Ali and they informed theToronto police who arrested him and

brought him to Mumbai, after which hewas taken to Hyderabad. Subsequently,he was acquitted.He is said to have been picked up by thepolice from Mumbai again in 1992,brought to Hyderabad and remanded to

judicial custody in one of these cheatingcases. The police had seized four cars,including a Mercedes, from him. He wentfree, however, since the victims did notcome forward to pursue the cases againsthim.


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The oldest case against Hasan Alipertained to an acid attack on a doctor,his neighbour, in 1984. Dr P Niranjan Rao'sface was disfigured and he had to

undergo 30 surgeries. Since the policecould not trace the records relating to thecase, it is not clear whether Hassan Ali wasarrested and acquitted in this case.Ties with arms dealer Adnan KhashoggiThe ED is said to have traced Hassan Ali's

relationship with infamous arms dealerAdnan Khashoggi. Adnan Khashoggi is saidto have transferred $300 million from hisChase Manhattan Bank account in NewYork into Hassan Ali's UBS account in Zurich.But the Swiss bankers froze the account

saying that the funds were from weaponssale.


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Many media reports say that the billions of dollars that he allegedlydeposited in Swiss banks actually belonged to influential politiciansand industrialists and he was only a conduit who helped facilitatethe transfer of the funds from India. In the bargain he got a heftycommission.

The Enforcement Directorate had sought details of Khan's accountsfrom Swiss banks in a letter rogatory issued in 2007. But the Swissrefused to share information on Khan, citing a technical point sayingthat not filing tax returns in India was not an offence under Swiss law.Khan on February 18 had appeared before Income Tax authorities,apparently in connection with notices issued to him over huge tax

evasions.The I-T department had sent a show-cause notice on December 31,2008 to Khan, demanding Rs 50,000 crore in taxes from him for notdisclosing funds in several foreign bank accounts, including $8 billionin an account in the Zurich branch of UBS.However, the UBS bank had recently denied any business

relationship with Khan.Though IT officials said Khan was present in the Assessment wing oftheir office at Churchgate in Mumbai and his statement was beingrecorded, they did not immediately confirm if he had appeared inconnection with the 2008 notice or any other that might have beenissued to him before or after that.


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Earlier, in January 2007, the I-T department hadraided Khan's residence at Koregaon Park inPune and had seized documents that showedthat he had $8.04 billion in a UBS account inZurich.

The raid followed a revelation that Khan hadallegedly concealed his income and not filedincome tax returns since 1999. The I-T departmenthad also raided his properties in Mumbai andHyderabad.Taken for medical check-up

The 56-year-old Khan was taken to the JJ hospital,Mumbai, on Tuesday for a routine medicalcheck-up after his arrest here.Khan was arrested on Monday night by theEnforcement Directorate which carried outsearches at his Pune home and that of his

associates' premises in several cities, cracking thewhip to meet Tuesday's Supreme Court deadline.He was brought to Mumbai later and was grilledby the Enforcement Directorate for nearly sixhours before being put under arrest.ED officials took him to his posh house in Peddar

Road in South Mumbai where he was quizzed till10.30 m before takin him to the their


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Enforcement Directorate officials from Mumbai alsowent to Pune to search the premises of Khan in poshKoregaon Park area on Tuesday. Searches werecarried out at the premises of Khan and his associatesat Pune, Mumbai, Gurgaon, Kolkata and Hyderabad.

"I am innocent. I haven't done anything wrong," hetold reporters before entering the ED office.In Kolkata, searches were conducted at theresidence of businessman Kashinath Taparia. EDsources told PTI that Taparia was an alleged aide ofKhan but Taparia claimed he had no "partnership"with him at all.ED sources had said the statement of Khan'sassociate and hotelier Philip Anand Raj was beingrecorded in Delhi.Khan's lawyer R K Gaur said he is being taken to ED's

Mumbai office for further interrogation and to possiblyconfront him with "some documents."Khan's arrest came on the eve of the Supreme Court'sMarch 8 deadline to the government to inform it howit proposed to tackle black money hoarders.


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Name :akash v patel

Roll no: 29

Class :SYFM.

THANK YOU.

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