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http://www.timesnow.tv/More-trouble-...ow/4331288.cms

More trouble for Koda and associates
4 Nov 2009, 0853 hrs IST, AGENCIES

The Enforcement Directorate and Income Tax Department have conducted raids at the residence and offices of the chartered accountant of Koda's associates. The raids were conducted at Sanjay Nareti's residence and offices in Jamshedpur, Sanjay Nareti is Binod Sinha and Sanjay Chaudhry's chartered accountant.

Many documents and information about Sinha and Chaudhry's bank accounts have been recovered during the raid. Lookout notices have also been issued for Koda's key aides - Binod Sinha and Sanjay Chaudhry. This is because the Enforcement Directorate suspects they may leave the country to avoid investigation.

The Directorate has also taken copies of vital documents of investments and ownerships of Koda and his associates in Ranchi from IT authorities. "Yes, Koda would soon be called for questioning regarding the Hawala transactions under the PMLA Act," official sources said.

A team of ED officials is also in the process of taking copies of the seized documents which surfaced during the searches conducted by the IT department, they said.

Sources said the notices for production to Koda and his associates would be served soon.

Meanwhile, building a tight case against the former chief minister and his associates, the tax department has also started putting the evidence recovered on record to be sent to its higher authorities.

The ED had registered a case against Koda on October 9 for alleged money laundering, diversion of state funds and making huge illegal investments abroad including purchase of mines as far as in Liberia.

Both the ED and the Income Tax department have also started the scrutiny of documents recovered during the searches.

These documents pertain to Hawala transactions and illegal investments running into more than Rs 2,000 crore by Koda and his men, sources said.

While the ED will probe the investments and purchases done outside the country, the IT department would investigate the unaccounted money within the country.

Various directorates of the IT department from Delhi, Kolkata, Mumbai, Lucknow, Nasik, and Jamshedpur have also sent documents seized by them and other evidence to the Investigations (Income Tax) Directorate in Jharkhand.

Koda and eight others have been accused of amassing property worth hundreds of crores of rupees including those in places like UAE, Thailand, Indonesia, Singapore and Liberia.

The ED had earlier filed an Enforcement Case Information Report (equivalent to a FIR) before the Prevention of Money Laundering Act court in Ranchi against Koda, his cabinet colleagues Kamlesh Singh, Bhanu Pratap Shahi and Bhandu Tirkey besides five others.

A special court in Ranchi on October 15 had also granted the police custody of former Jharkhand cabinet ministers Enos Ekka and Hari Narayan Rai to the ED for "the purpose of ensuring proper investigation in the matter and unearth the undisclosed properties, documents of their investments".

- Singapore News Alternative