Investigating agencies snap into action after SC rap on Hassan Ali

After being slammed by the Supreme Court for their inaction against Hassan Ali Khan, officials probing his alleged vast reserves of black money have drawn up an appointments schedule with the Pune-based businessman. A 'look out' circular has also been issued to ensure that Khan does not leave the country.

Known for his stud farms in Pune and his appearances at the race-course in Mumbai, Khan remains in denial of his money and that it has not been accounted for.

According to Khan, he deals in scrap material. But, according to the government, it has information that Khan has stashed $8 billion worth of black money in foreign bank accounts.

Yesterday, an agitated Supreme Court expressed its strong displeasure over the fact that people like Khan had yet to be interrogated despite evidence of their illegal foreign accounts. "What the hell is going on in this country?" asked one of the two judges hearing the case.

That triggered a flurry of action today with officials setting up several sessions of questioning for the businessman. On Monday, a team from the Enforcement Directorate (ED) will interrogate Khan, following which he will again be questioned on 10 March by the ED and five other agencies in Mumbai. Five other people, including his wife Rheema, who reportedly assists Khan in money-laundering will also be questioned on that day.

In January 2007, Khan's residences were raided by the Income Tax department. The ED then got in touch with authorities in different countries, including the UK and the UAE, for information on Khan's financial transactions originating in his Swiss bank accounts. According to investigating officials, Khan's businesses cannot justify the amount of wealth he has accumulated.