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Hasan Ali case: Govt to approach Swiss authorities

PTI New Delhi | Updated on March 12, 2018 Published on November 25, 2012

The Government has asked the Indian Mission in Berne to get in touch with banking authorities of Switzerland for obtaining details of businessman Hasan Ali Khan’s Swiss bank accounts in connection with the probe into one of the biggest tax evasion scams in the country.

The Finance Ministry has written to the External Affairs Ministry to approach the Swiss banking authorities to allow a team of investigators drawn from the Enforcement Directorate and the Income-Tax department who will place a “comprehensive money laundering and criminal tax evasion” report on the Pune-based stud farm owner and his associates.

According to official sources, a team of three-four sleuths wants to place documents related to “criminal proceeds of crime” allegedly amassed by Khan in front of the Swiss authorities so that they allow them to obtain his bank accounts data and cash statements, including one which he reportedly holds in a bank in Liechtenstein.

Khan is currently in jail after the ED slapped a money laundering case against him last year. This case has emerged the biggest individual case of blackmoney stashed abroad.

The Finance Ministry, on the ED’s plea, has sought to invoke the latest provisions of the revised Double Taxation Avoidance Agreement (DTAA) between the two countries which enables India to “get information even if it only has limited details regarding the person having bank accounts in Switzerland“.

While the I-T department has raised a tax arrear demand of Rs 50,345.73 crore on Khan, the ED has registered a case under the Prevention of Money Laundering Act (PMLA). It is also probing him for alleged forex violations.

An alleged violation by Khan under the Passport Act is also being probed by the central agencies.

Published on November 25, 2012
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