The Telegraph
Thursday , June 19 , 2014
CIMA Gallary

I-T boss deposes in Koda case

Ranchi, June 18: Deputy director of income tax D.N. Parekh was today examined as a witness in a money laundering case involving former chief minister Madhu Koda.

Parekh, who appeared before the PMLA court of R.K. Choudhary in Ranchi, was questioned about alleged investments of Rs 250 crore made by Koda and his associates in foreign countries like the UAE.

He told the court that during countrywide raids on the premises of Koda and his associates in 2009, the I-T seized documents from the residences of alleged hawala operators Ajay Bafna and Anil Bastawade pertaining to illegal investments in Dubai. Thereafter, an interim investigation report prepared on the basis of seized documents was sent to the I-Tís central headquarters.

The ED claims that Koda and Co. invested around Rs 250 crore in real estate in Dubai.

Koda, along with co-accused like Bikash Sinha, Bastawade (under judicial custody) and Binod Sinha, was present at the hearing.

The next date of hearing is July 18.