The court also granted four-day custody of Khan to the Enforcement Directorate.
Hassan Ali Khan is a Pune-based stud farm owner, but says that he is a scrap dealer with an annual income of Rs 30 lakh (Rs 3 million).
Court had earlier said that ED should find out if the money allegedly amassed by Khan is proceeds of crime.
Apex court had on August 16 stayed the bail granted to Khan after the ED moved a petition challenging the High Court order.
A probe report will also be submitted to the apex court investigations are complete.
Hassan Ali Khan, the Pune-based real estate consultant and stud farm owner, who is alleged to have stashed away over $8 billion in foreign banks, on Friday appeared before Income Tax authorities, apparently in connection with notices issued to him over huge tax evasions.
Khan was produced before the court of the principal sessions court judge M L Tahaliyani on Tuesday.
The apex court fixed Wednesday for further hearing on the matter.
Alleging that Khan has links with international arms dealer Adnan Khashoggi, Khambatta said: "In 2003, $300 million was apparently received by Khan from Khashoggi from weapon sales."
Court criticised ED for not mentioning the filing of a charge sheet in its status report.
The Supreme Court on Tuesday mulled invoking terror and other stringent penal charges against Pune stud owner Hassan Ali Khan, accused of massive money laundering and tax evasion, for his alleged links with arm dealers and people linked to terror activities.
The truth is more than what is being shown to the naked eye, said the court.
A Bench of Justices B Sudershan Reddy and S S Nijjar said that after four days of police custody give to ED, he will be remanded in judicial custody.
The IT department, which earlier had raised a total tax demand of Rs 71,845 crore (Rs 718.45 billion) on Khan and his associates, has now included a 24 per cent penalty on this amount as the assessment on them was made in 2008, according to department sources on Wednesday.
India face arch-rivals Pakistan in a high-stakes U-19 World Cup Super Six clash, seeking revenge for their crushing Asia Cup final defeat in Bulawayo.
The Pakistan Cricket Board (PCB) has started working on an alternate plan as serious doubts have arisen over Afghanistan's participation in an upcoming T20 Tri-Series amid military conflict between the two countries.
Bangladesh will see this as an opportunity to start on a strong note and settle into the tournament.
Sri Lanka will look to build on their perfect start in Asia Cup when they take on a struggling Hong Kong in Dubai on Monday.
Afghanistan star spinner Rashid Khan made history, becoming the first-ever bowler from his team to complete 200 ODI wickets.
Having lost against Sri Lanka, Bangladesh face a must-win against Afghanistan to keep their Super 4s hopes alive.
Purnendu Maji and Srinivas Bhogle present Rediff's Most Valuable Player Index of Asia Cup 2025.
The BCCI decided against playing practice games as India is already participating in a three-match ODI series against England.
When the temperatures start soaring, it's the perfect excuse for our celebs to go on a summer holiday.
All India Anna Dravida Munnetra Kazhagam chief J Jayalalithaa on Monday issued legal notices to three media organisations, including the DMK-backed Kalaignar TV, for carrying 'frivolous' reports linking her to Pune-based businessman Hasan Ali Khan, accused of stashing black money abroad.
The meet assumes significance as the Mumbai unit of the I-T department is handling probe into high-value cases of tax evasion including the Indian Premier League case, probe into the investments of Pune-based stud farm owner Hassan Ali Khan and tax related cases of the top cricketing body of the country -- Board of Control for Cricket in India.
'I somehow felt that Muzaffar Ali was in Aligarh to feel the pulse of the Muslim youth, especially in the darker and harsher times that India is passing through,' notes Mohammad Sajjad.
The Centre on Friday approached the Supreme Court seeking review and recall of its order for setting up a Special Investigation Team comprising its retired judges to take over the probe of all black money cases, including that of Pune stud farm owner Hassan Ali Khan.
Former deputy chief minister Muzaffar Hussain Baig was among the 24 candidates in Baramulla constituency whose deposits were forfeited.
What you need to know about Mukarram Jah Bahadur, the 8th Nizam, who will be laid to rest in Hyderabad today.
The team includes four Pakistanis, three Indians, three Englishmen and one Bangladeshi, with Kane Williamson of New Zealand as 12th man.
A class XII student was arrested and sent to jail for allegedly posting derogatory remarks about Azam Khan
Pakistan is bracing for another day of violence that broke out in many cities after the arrest of former prime minister Imran Khan for alleged corruption with the leaders of his party announcing a countrywide strike on Wednesday to protest against the fascist government.
With a line-up of thrilling matches and intense competition, the ICC Women's T20 World Cup is sure to captivate fans around the globe. Stay tuned for updates and highlights as the tournament unfolds. Ahead of the tournament, here's everything you need to know about the upcoming ICC Women's T20 World Cup.
A court in Rampur granted bail to the Std XII student who was arrested for allegedly posting on Facebook 'objectionable' comment against senior Samajwadi Party leader and Uttar Pradesh Minister Azam Khan.
With stars returning to their busy lives after the third wave of he pandemic, here's looking at how they spent their Tuesday.
In a surprise development, Pakistan Muslim League-Nawaz on Tuesday nominated its president Shehbaz Sharif as the prime ministerial candidate of Pakistan instead of the party supremo and three-time former premier Nawaz Sharif.
Pakistan left out pace bowler Mohammad Amir from their 15-man Twenty20 international squad to face Australia.
Clearly, her father hopes that a successful tenure in Lahore will give Maryam the ballast to be prime minister after the next general election.
Bilawal has said the reality is that his party does not have a mandate to form a federal government.
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