Money laundering: Koda`s bail petition rejected
Ranchi: Jharkhand High Court monday rejected a bail petition moved by former chief minister Madhu Koda in a money laundering case against him pertaining to Rs 1,340 crore.
Justice H C Mishra, who had on Friday reserved the order, dismissed the petition after the counsel of the Enforcement Directorate objected the petition on the ground that there was direct involvement of Koda in the case.
Koda contested that only Rs 20 crore was detected by the probing agency and how could the case sustain to the tune of Rs 1,340 crore and that he was not related, directly or indirectly, in the case.
On September 25, charges had been framed in the court under Section 4 of the Prevention and Money Laundering Act, 2002 pertaining to a total of Rs 3,549.72 crore.
Out of the total amount, the ED had accused Koda of making illegal investments worth Rs 1,340 crore and the rest by the other five accused.
Koda is in judicial custody from November 30, 2009 following the October 31, 2009 countrywide raids by ED and IT on 69 premises.
More from India
More from World
More from Sports
More from Entertaiment
- 'Maggi' under regulatory scanner for excess amount of lead, MSG
- When Subramanian Swamy shocked people at a wedding!
- Watch: Michelle Obama's 'Gimme Five' fitness video
- Mumbaikars join hands to save Pakistani teen with rare illness
- Mumbai: Diamond export company denies job to Muslim youth
- PM Modi speaks at Golden Jubilee celebrations of poet Dinkar’s works
- Aapke Sitare: Astro prediction for May 21, 2015
- Mirage 2000 fighter jet landing was part of capability demonstration: IAF
- Vadodara: Policemen seen dancing with bar girls
- Coal scam: Naveen Jindal, Madhu Koda and others get bail
- DNA: IAF Mirage 2000 fighter plane lands successfully on Yamuna expressway
- One year of Modi govt: Arun Jaitley addresses press conference
- DNA: Osama documents show 'Indian brother in Madinah' financed al Qaeda
- ISIS executes Syrian fighter using anti-tank rocket launcher
- Zee Media Exclusive: Kangana, Madhavan talk about their film 'Tanu Weds Manu Returns'
- CBSE Class 10 Results 2015 to be announced today?
- Check Jharkhand Board jac.nic.in: Class 12th Art Results 2015 declared
- Fawad Khan doesn’t want intimate scenes with Sonam Kapoor?
- Log on to apeamcet.org AP EAMCET Results 2015: Andhra Pradesh EAMCET Marks and AP EAMCET Ranks 2015 declared
- We hire only non-Muslim candidates, diamond export firm tells Muslim youth
- Is MSG in 'Maggi' noodles harmful for you?
- Mumbai firm booked for denying Muslim MBA graduate job on religious grounds, probe ordered
- Jayalalithaa makes public appearance, meets Governor: As it happened
- New IPL rules could see Chennai Super Kings lose MS Dhoni
- `Piku` hits jackpot, does Rs 100 crore business worldwide
- Anurag Kashyap to bid goodbye to India, settle in 'cinema-friendly' France!
- IPL 2015, Qualifier 2, Chennai Super Kings vs Royal Challengers Bangalore: Preview
- Geelani's passport application incomplete, cannot be processed: MEA
- CBSE Class X Results 2015 to be announced today?
- Kerala Plus Two Results 2015 on keralaresults.nic.in