New Delhi, Supreme Court of India today reserved judgement on the CBI petition seeking cancellation of bail of India’s ‘biggest’ income tax defaulter Hassan Ali in black money case.
A bench comprising Justices Altamas Kabir and S S Nijjar is likely to pronounce the order on September 29.
Hassan Ali was granted bail by the Bombay High Court holding that the Enforcement Directorate (ED) has failed to provide any credible evidence to show that the money parked in the Swiss Bank belongs to Hassan Ali.
The ED has approached the apex court for cancellation of bail and the court had stayed the release of Ali from jail.
Hassan Ali was suspected to be having links with international arms dealer Adnan Khashoggi.
The Income Tax department had served a demand notice of Rs 50,000 crores as income tax due.
Hassan Ali was facing allegations of money-laundering.