Mumbai, Apr 6: Pune-based stud farm owner Hasan Ali Khan, accused of stashing away billions of dollars in foreign banks, today filed a bail application in the sessions court here.
The court, which has earlier sent him to judicial custody till April 8, would hear arguments on bail application on the same day.
In the bail plea, Khan has said that no offence has been committed by him under Prevention of Money Laundering Act (PMLA), under which he was booked by Enforcement Directorate.
“The notification for PMLA came in 2005, so offence committed before 2005 cannot be considered”, said Khan's lawyer I A Bagaria, adding that the Act can not have a retrospective effect.
“FERA, FEMA and offences under Income Tax does not fall under scheduled offences (for a person to be booked under PMLA)”, Bagaria told PTI. Khan is also facing a Rs 70,000 crore tax notice from I-T department.
Khan's another lawyer, R K Gaur, said that his client had been cooperating with the ED, and when his bail was cancelled Khan himself had surrendered before the investigating agency.
Khan was taken into custody by ED on March 17 after the Supreme Court cancelled the bail granted to him by a trial court.
ED has questioned Khan with regard to his past trips to various countries and his business dealings. PTI
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