Daijiworld Media Network

Mumbai, Jul 1:  Under the Prevention of Money Laundering Act (PMLA), the enforcement directorate (ED) issued an order to confiscate the properties of Pune businessman Hasan Ali Khan and his Kolkata businessman-friend Kashinath Tapuria on Thursday June 30.

The properties belonging to the duo was worth over Rs 50 crore. The two are probed by ED for alleged tax evasion and under money laundering charges.

Following the order issued by ED to confiscate the properties of Khan and Tapuria, the officials seized them in Pune, Mumbai and Delhi respectively. Khan’s 10,000 sq ft bungalow in Pune and his plush apartment in Peddar Road area have been attached. His fleet of expensive and luxurious cars has also been seized. Tapuria’s sprawling property, which has been confiscated, is situated in the Prithviraj Road area.

Uunder PMLA, the process of confiscating the property begins by first attaching the properties. This means, the owners then cannot sell or give the property on rent. Once this is done, then the real process of confiscation begins and eventually the property’s ownership comes under the government of India.

Khan and Tapuria, who were arrested by the ED earlier this year, are at the Arthur Road Jail under judicial custody. More properties of the duo will be confiscated in the near future, according to sources.