Enforcement Directorate booked 62-year-old Hasan Ali Khan and few of his alleged associates under criminal charges of money laundering in 2011. Hasan Ali Khan owes Rs 1,65,665 crore as tax arrears to the Indian Government.
How to recover these huge sums, which are equivalent to certain percentage of the total GDP of India is a great question. Assets of Khan family do not tally with what they owe to the tax department. In order to widen the net of investigation, the government have involved enforcement directorate now, which raided 12 premises of Hasan Ali kHan.
The action against Hasan Ali and his other associates had come about after a lull of about six-years when he was first booked by the Enforcement Directorate.
Khan’s tax liabilities amount to 25% of the total direct tax arrears of Rs 6.74 lakh crore. The IT department had raised a demand of Rs70,000 crore against the Hasan Ali group in 2007 on the basis of three transactions with the UBS bank.