ED to confront Hasan Ali with arrested associate Tapuriah
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Enforcement Directorate(ED) will confront Hasan Ali Khan with his associate Kashinath Tapuriah in an attempt to unravel the "financial association" between the two businessmen in its probe against them over charges of huge tax evasion and money laundering.
The ED arrested Tapuriah in Mumbai on Thursday after three days of questioning and he has been sent to the agency's custody till March 30 by a court.
"Both Khan and Tapuriah have been evading replies on their association. Based on documentary evidence obtained by various agencies, it is being planned to confront them with each other in presence of the investigators," sources involved in the probe said today.
The association between the Pune-based studfarm owner and the Kolkata-based businessmen surfaced in 2007 when the income tax department searched the premises of Khan in Pune and found Tapuriah's mention in a CD which had information on alleged cross-border financial dealings on behalf of Khan, the sources said.
Subsequent I-T searches on Tapuriah's premises at Kolkata led to the recovery of a pen drive where certain alleged financial dealings relating both of them were claimed to have been found.
The I-T department has raised a tax demand of Rs 50,329 crores against Khan, Rs 591 crore against Tapuriah and Rs 20,540 crores against Tapuriah's wife Chandrika after it's assessment in 2008.
According to sources, they have found documents that point to signing of Memoranda of Understanding (MoUs) by both of them to purchase properties abroad.
"Now in order to realise the huge tax demand and ascertain money laundering avenues, it is necessary to find such properties abroad which can be attached to realise the amount. Their role and information will be cross-checked," the sources claimed.
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