Who is Hassan Ali Khan?

Nowadays Those people who used to have a glimpse on newspaper daily then they have might have read that A Man who owns property of over 35,000 crore got shocked on reading in the paper. But it was simply shocking rumour and wild guess from media which should not happen because next day it comes into news that it was not 35,000 crore but it was 3,000 crore.

He is fond of horses. He deals in horses. He owns lotsa property in pune. Pune-resident Hassan Ali Khan, 53, has been fleetingly seen on racing tracks. Horse trading circles describe him as a smart punter but a small time horse owner.

If officers in investigating agencies are to be believed, this stud farm owner could be the latest Indian billionaire on the block — possibly, as rich as DLF boss K P Singh, or richer still. His wealth is said to be in the region of anything between Rs 35,000 and Rs 20,000 crore and most of it — and this is the catch — unaccounted.

Here's introducing 53-year-old Hassan Ali Khan, owner of some pedigreed horses who also trades in thoroughbreds. He owns two Mercs, has property in Mumbai and Pune, friends among the rich and famous, and shuttles between the two cities in his limo in the racing season.

For three weeks in January-February, Khan was in a multi-speciality private hospital in Pune with cardiac and liver problems. This was almost immediately after he was raided by a joint team of income-tax and enforcement directorate sleuths on his properties in different cities. Since his release from the hospital, Khan has not been spotted.

This was the time the buzz about Khan and his alleged wealth grew. Until then, he had attracted attention on the Pune racing turf where he surfaced about five years ago as a small-time punter who suddenly became one of the biggest players. His contacts, by default, were with some of the top industrialists who have an interest in horse-trading.

On Thursday, sources in I-T department told TOI that an investigation into fund transfers through illegal channels in and out of India for stock market investment led the sleuths to some Swiss bank accounts.