Mumbai, Mar 8 (UNI) The Income-Tax department claims to have unearthed unaccounted wealth to the tune of Rs 35,000 crore from a businessman Hasan Ali.
The I-T officials had conducted raids on Ali's residence at Koregaon Park in Pune on January 5.
After scrutinising details of Ali's accounts on his personal computer, a series of co-ordinated raids were conducted across Mumbai, Hyderabad and Bangalore where the businessman owned properties, officials sources here said.
The department then informed the Central Board of Direct Taxes (CBDT) and the Finance Ministry, after which, the Enforcement Directorate (ED) took over the probe.
The ED officers went to Switzerland and froze seven out of the ten accounts operated by Ali who has not yet been formally arrested as he is absconding.
The matter is now being investigated by the Central Bureau of Investigation (CBI) and Research&Analysis Wing (RAW) has also been roped in for a detailed probe. A money laundering case has also been registered in Pune.
Ali hails from Hyderabad and is a prominent Pune-based businessman who owns a stud farm and deals in export of pure-bred horses. He is a prominent figure at the Pune Derby circuit, IT officials revealed.
He also owns property worth thousands of crores in Pune, Bombay and Nagpur. The IT department suspects that Ali could be a big player in the Hawala market.
UNI
The I-T officials had conducted raids on Ali's residence at Koregaon Park in Pune on January 5.
After scrutinising details of Ali's accounts on his personal computer, a series of co-ordinated raids were conducted across Mumbai, Hyderabad and Bangalore where the businessman owned properties, officials sources here said.
The department then informed the Central Board of Direct Taxes (CBDT) and the Finance Ministry, after which, the Enforcement Directorate (ED) took over the probe.
The ED officers went to Switzerland and froze seven out of the ten accounts operated by Ali who has not yet been formally arrested as he is absconding.
The matter is now being investigated by the Central Bureau of Investigation (CBI) and Research&Analysis Wing (RAW) has also been roped in for a detailed probe. A money laundering case has also been registered in Pune.
Ali hails from Hyderabad and is a prominent Pune-based businessman who owns a stud farm and deals in export of pure-bred horses. He is a prominent figure at the Pune Derby circuit, IT officials revealed.
He also owns property worth thousands of crores in Pune, Bombay and Nagpur. The IT department suspects that Ali could be a big player in the Hawala market.
UNI
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