Jharkhand: Ex - Chief Minister Madhu Koda has been accused in a scam of over Rs 4,000 crore and his house in Ranchi has been raided and sealed. After that Madhu Koda was hospitalised for earlier this week, when he was accused of corruption in 4,000 crore money. When Income Tax Department conducted searches on the alleged properties Koda and some of his close associates allegedly acquired in several cities across the country. When Madhu Koda will be discharge of hospital then it has cleared he has arrested with Vikas Sinha, whose brother, Binod Sinha, was one of Koda's right-hand men, and is now missing. That apparently involved helping Koda to collect assets worth 4000 crore and mainly by serving as a front for him. Income-Tax officials say Sinha's business transactions included Balaji Bullion Corporation (Rs 360 crore), Balaji Bullion Bazar (Rs 990 crore) and Balaji Bullion and Commodities (Rs 100 crore). He also purchased the defunct Indo-Asahi company and gave a loan of Rs 25 crore to another company. Madhu Koda was detained by the Mumbai customs for carrying more cash than is permitted by law while flying to Dubai. After that he was accused of here over Rs 2,000 crore.
Friday, November 6, 2009
Ex - Chief Minister Madhu Koda accused of over 4,000 crore
Jharkhand: Ex - Chief Minister Madhu Koda has been accused in a scam of over Rs 4,000 crore and his house in Ranchi has been raided and sealed. After that Madhu Koda was hospitalised for earlier this week, when he was accused of corruption in 4,000 crore money. When Income Tax Department conducted searches on the alleged properties Koda and some of his close associates allegedly acquired in several cities across the country. When Madhu Koda will be discharge of hospital then it has cleared he has arrested with Vikas Sinha, whose brother, Binod Sinha, was one of Koda's right-hand men, and is now missing. That apparently involved helping Koda to collect assets worth 4000 crore and mainly by serving as a front for him. Income-Tax officials say Sinha's business transactions included Balaji Bullion Corporation (Rs 360 crore), Balaji Bullion Bazar (Rs 990 crore) and Balaji Bullion and Commodities (Rs 100 crore). He also purchased the defunct Indo-Asahi company and gave a loan of Rs 25 crore to another company. Madhu Koda was detained by the Mumbai customs for carrying more cash than is permitted by law while flying to Dubai. After that he was accused of here over Rs 2,000 crore.
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