Koda scam: ED to attach props worth over Rs 200cr
ED will soon attach immovable property valued more than Rs 200 cr of former Jharkhand CM Madhu Koda and his associates as it widens its probe in the alleged illegal investments and money laundering cases against him.
Ranchi: The Enforcement Directorate will
soon attach immovable property valued more than Rs 200 crore
of former Jharkhand Chief Minister Madhu Koda and his
associates as it widens its probe in the alleged illegal
investments and money laundering cases against him.
The ED has identified the properties primarily in the
state of Jharkhand and a few in adjoining Bihar, which will be
sealed and a complete embargo would be issued by the agency
against their sale and purchase as an inquiry is in process
against the owners -- Koda and his associates.
Sources said certain other properties outside the
state will be also be sealed and attached by the Directorate
once it gets the relevant documents cleared by a competent
The attachment and sealing of property would be in
force for at least three months, subject to adjudication of
courts and investigation under the Prevention of Money
Laundering Act (PMLA) by the ED and other agencies like the
Income Tax department and CBI.
The properties to be attached also include those owned
by Koda`s associates like Binod and Vikash Sinha who are in
CBI custody presently.
The properties to be attached and retained by the
agency has been evaluated at more than Rs 200 crore, sources
Koda and his associates are facing an onslaught of
inquiries by various probe agencies like ED, I-T department,
CBI and Jharkhand Vigilance bureau regarding alleged illegal
investments and hawala transactions in India and abroad.
Koda has recently been issued a show-cause notice by
the Election Commission for alleged discrepancies in his poll
expenses incurred by him during the 2009 General Elections.