Action will be taken against Khan: Mukherjee
07 Mar 2011
Union finance minister Pranab Mukherjee today said the government had taken note of the Supreme Court's observations and action would be taken against Pune-based stud farm owner Hasan Ali Khan who is facing charges of stashing huge amounts of money in tax havens.
"That is being taken care of. We have noted the observations of the Supreme Court. All appropriate action will be taken," he said on the sidelines of a CII meet replying to a question if the government was contemplating any action against Khan.
A 'Look out Circular' was issued by the Enforcement Directorate (ED) yesterday to ensure that Khan did not flee the country.
Khan is alleged to have stashed over $8 billion in Swiss banks and in 2009 was served a notice for a tax demand of around Rs40,000 crore.
Meanwhile, the stud farm owner has been detained in Pune by ED officials. He is accused of massive money laundering and tax evasion.
ED sleuths today swooped down on Hasan Ali's Koregaon Park residence a day before the apex court's 8 March deadline to the government wherein it has been asked to inform how it was tackling the alleged black money hoarders.