Mumbai:
A Mumbai court will today decide on the plea of the Enforcement Directorate (ED) seeking the remand of Hasan Ali Khan. The Principal Sessions Court had on Wednesday adjourned the hearing on the ED's request for Mr Khan's custody - who was arrested on Monday night - by a day and had pulled up the probe agency for shoddy investigations into the case.
(Read: Who is Hasan Ali Khan?)
The officials handling Mr Khan's money-laundering case were in for a rude shock after they were ordered to "do their homework" by the court.
"You have not been able to make any case and you want me to hear you. If you want to do some homework, you can take time," the Judge said before adjourning the proceedings till today.
The Enforcement Directorate in its defence said it has a 'Letter of Rogatory' from US authorities confirming a transaction of $7 million of 'laundered money' Hasan Ali transferred from his account in Sarasin Bank in Switzerland to the account of SK Financial Services in Citibank, New York. This is a lead investigators continue to follow.
Mr Khan, whose different businesses include real estate, stud farms and scrap dealerships, has been asked to pay Rs. 70,000 crore as a penalty for tax evasion.
But on Tuesday, the Supreme Court asked the government to consider bringing terror charges against Mr Khan. That's because investigating officials say they have recovered documents that suggest international arms dealer Adnan Khashoggi transferred $300 million to Mr Khan's Swiss accounts.
Sources have now told NDTV that the Khashoggi-deal affidavit is not an original - it is a photocopy, yet to be authenticated.
Sources point out glaring gaps in investigations, revealing that the Income Tax department and the ED are not on the same page.
Sources have told NDTV that the ED did not share several pieces of critical information with Income Tax authorities, including an audit by the UBS Bank and the feedback from Swiss authorities. The UBS bank had shared an audit with ED which showed that only Hasan Ali's wife had an account with them, that too for a sum less than Rs. 1 crore.
Swiss authorities had reportedly said that the critical document showing Hasan Ali has $8 billion in Swiss banks could be forged.