The Enforcement Directorate (ED) on Thursday arrested Kolkata-based industrialist Kashinath Tapuriah (74) for his alleged association with Pune businessman Hasan Ali Khan, accused of tax dodging and money laundering.
Tapuriah was produced before principal judge SS Joshi, who remanded him to ED custody till March 30. Public prosecutor Ujjwal Nikam, who appeared for the ED, told the court after searches at Tapuriah’s residence, the agency had seized incriminating material showing transfer instructions from Khan’s account to various others including those opened by Tapuriah.
Nikam also stated Tapuriah had travelled with Khan in 1997 to Singapore to open an account in the SBC Bank there. For this Khan gave power of attorney to Tapuriah to operate his account.
The ED in its remand application has stated that Tapuriah used to pay for Khan’s air tickets and had also travelled with Khan to Switzerland, London, Dubai, and other countries to facilitate his alleged money-laundering activities.
In a document seized by the ED, Tapuriah has been shown as advisor to Khan. Tapuriah had also reportedly stated Khan’s links with Saudi arms dealer Adnan Khashoggi.
The I-T department has raised a tax demand of Rs 591 crore against Tapuria and Rs 20,540 crore against his wife.