RECORDS OF INVESTMENT & TRANSACTION RECOVERED WORTH RS 2,000 CR: MADHU KODA CASE

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In major raids carried out at residences and offices of former Chief Minister Madhu Koda and two of his close aides at 70 locations across the country, Income Tax officials recovered documents mainly regarding business investment and hawala transaction worth about Rs 2,000 crore.

The raids were going on late into the night which began at 0930 hrs and Koda, also an independent MP from Chaibasa, was still being interrogated by I-T officials assisted by personnel from enforcement directorate at his official residence.

The 70 locations across the country included Ranchi, Jamshedpur, Chaibasa (all in Jharkhand), Delhi, Mumbai, Kolkata, Nasik and Lucknow, Director Investigation Ujjawal Choudhary (Bihar and Jharkhand) and Ajit Srivastava (Additional Director) told news conference.

From raids in Mumbai, hawala operators including Arvind Vyas and Lalit Jain it was revealed that transaction of Rs 1,300 crore was made mainly by Vinod Sinha, one of the controversial aides of Koda.

In state capital raids were being conducted in about 24-25 places, they said.

Documents relating to the purchase of about three sick industrial units and other property in various parts of the country stood at about Rs 700 crore.

Other close associates, who also came under I-T scanner, was Sanjay Choudhary.

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