17 March 2013

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Black Money ED seized properties worth Rs 140 crore belonging to former Chief Minister Madhu Koda

Black Money ED seized properties worth Rs 140 crore belonging to former Chief Minister Madhu Koda

Black Money or Money laundering case

The Enforcement Directorate (ED) has identified and seized properties worth Rs 140 crore, involving former Jharkhand chief minister Madhu Koda, who is currently in jail.

In January 2013, Anil Bastawde was arrested from Jakarta.

After that, Bastawde gave the information regarding properties.
Properties include residential and commercial properties in Bangalore, Pune, and Jamshedpur and 14 flats in Mumbai.

ED identified and attached 12 immovable properties which were in the name of Bastawde,

ED officials alleged that Mumbai-based Balaji Group of companies was used for parking "ill-gotten money" and company was controlled by close friend Manoj Punamia, a close associate of Koda

The company started in year 1993, a very small business and now has 10 companies in Mumbai and others parts of the country with a transaction of more than Rs 1,000 crore.

Media reported that money from the Mumbai-based companies was "ploughed" back into some of the companies controlled directly by Binod Sinha, who was allegedly collecting bribes on behalf of Koda.

Suggested Reading –

Black Money The Story and Crime of Chief Minister - Madhu Koda



Reality views by sm –

Sunday, March 17, 2013

Tags – Madhu Koda Black Money


6 comments:

MEcoy March 17, 2013  

another great post sm

BK Chowla, March 18, 2013  

Black money,scams,money laundering.
All these are now a status symbol