Money laundering case: Hasan Ali Khan denied bail

MUMBAI: The Bombay High Court has rejected the bail plea of Pune-based businessman Hasan Ali Khan, facing charges of money-laundering and stashing huge amount of black money in banks abroad.

Khan pleaded that charge sheet against him in money-laundering cases has not yet been filed and hence he should be given bail.

However, Justice R C Chavan yesterday rejected his plea after Enforcement Directorate (ED) argued that he may abscond or tamper with evidence if he was given liberty.

Khan, accused of having USD 8 billion in Union Bank of Switzerland, was arrested in 2011 and his bail plea had been rejected in September that year by the Supreme Court. Another bail plea was rejected in October 2012 by the Special Court under Prevention of Money Laundering Act ( PMLA).

His lawyer Satish Maneshinde argued that the material available before the court against Khan does not disclose any connection between the alleged offences and proceeds of the crime as required under PMLA. Hence, he should be given bail.

Khan's bail petition contended that certain documents, including a fax communication, had not been placed before the PMLA court which had rejected his bail last year.

However, Advocate General Darius Khambata and Revati Dhere, appearing for ED, said documents had been presented to the court in a sealed envelop. They also contended that there was likelihood of Khan absconding or tampering with evidence if he was granted bail.

Khan is facing allegation of obtaining five passports in different names and transacting huge amounts in Swiss banks. He is also under the scanner for alleged terror links, as he is suspected to have laundered money of international arms trader Adnan Khashoggi.

After sessions court rejected his bail last year, he moved the Bombay High Court which granted him bail. However, Supreme Court cancelled his bail. He recently moved the High Court again on fresh grounds which rejected his plea for liberty.