The Bombay High Court on Monday said that the Enforcement Directorate, probing the alleged multi-crore money laundering scam involving Pune-based business Hassan Ali Khan, should establish that the money deposited by the accused in foreign banks are "proceeds" of crime.
"He (Hassan) has amassed huge sum of money in foreign banks that has been prima facie established. But are these proceeds of crime? That needs to be established by the investigating agency. There cannot be a presumption on this," Justice A M Thipsay observed while hearing
Hassan's bail plea.
The court, while reserving its order on the bail petition, remarked that the investigating agencies should find out the source of the money.
"The money is not his. The truth is more than what is being shown to the naked eye. The whole picture needs to be seen," the court said.
Additional Solicitor General Darius Khambatta, appearing for the Enforcement Directorate, said there are highly influential people behind Hasan who need to be probed.
Hassan's lawyer I A Bagaria, however, refuted all allegations and said that Hassan has no links with international arms dealer Adnan Khashoggi and has no accounts in any foreign banks.