Raid on Pune man has I-T, enforcement agencies chasing billions in foreign deals

The Pune police, who were on Khan’s trail for three weeks, were actually elbowed out of the picture by Central investigation agencies after the raids were carried out. At that time, the investigators had traced a deal worth Rs 5,000 crore.

“The January raid was in fact initiated from Mumbai. Except extending logistical support, we had little role to play,” said B K Shridhar, director-general at the Pune income tax department. “The epicentre of the case is in Mumbai.”

In January, Khan, 52, was admitted to Jehangir Nursing Home in the city for nearly three weeks. At that time, two sleuths were posted to trail his activities in the city, sources here said.

During that period, police traced his local account at a multinational bank on MG Road and found details of a Rs 5,000-crore transaction.

“Clearly, owning horses is a screen for his other activities and he is in Pune simply because it is a safe haven,” a police officer said. “His major links were traced to Delhi, Mumbai, Ahmedabad, Surat and Vadodara, ” he said.

While the Pune raids yielded little — except the horses, a home and about Rs 70 lakh in cash — the simultaneous raids in Mumbai and the Gujarat cities yielded vital information on Khan’s dubious deals.