New Delhi: The income tax department has issued a show cause notice to tax defaulter Hasan Ali, on non-payment of Rs 40,000 crore worth of tax dues. He has been given 15 days to reply.
He has a bank account with Union Bank of Switzerland (UBS) in Zurich which has $8 billion stashed away. Ali has four other accounts in the same bank.
Apart from that, he has another bank account in Zurich with the Credit Suisse Bank. And in Dubai, he has an account with ABN AMRO Bank.
In New York, his company SK Financial Services, has an account with Barclays Bank....more
09:07 PM, Mar 04, 2011