After a Ranchi court today sent Vikash Sinha, an associate of Madhu Koda, to its custody, the ED is probing the role of cabinet colleagues of the former Jharkhand chief minister in obtaining and routing of money which was later allegedly used for hawala transactions.
Vikash, who was remanded to a day's judicial custody yesterday, will now, in all possibility, be brought to the ED headquarters here for interrogation tomorrow.
According to sources, the role of Koda's former cabinet colleagues is being probed as during IT searches certain documents have surfaced which indicate that state funds were diverted and used for hawala transactions and illegal investments.
While Koda's former cabinet colleagues Enos Ekka and Hari Narayan Rai had been charged under Prevention of Money Laundering Act on September 4 this year by the ED, the Directorate had earlier filed a Enforcement Case Information Report (equivalent to an FIR) before a PMLA court in Ranchi against former ministers Kamlesh Singh, Bhanu Pratap Shahi and Bhandu Tirkey, besides five others.
Under the scanner of the ED and IT authorities is alleged diversion of the mineral-rich state's funds pertaining to electrification projects and money obtained from transfers and postings of officers in various departments of Jharkhand.
The money was allegedly invested in properties and purchase of shares of various companies by Koda and his associates, sources said.
The ED and IT departments, investigating the Rs2,000 crore illegal assets case involving Koda, is probing the purchase of shares and properties by his associates like Binod Sinha, Sanjay Choudhary, Devendra Mukhia, Basant Bhattacharya, Manoj Punamiya, Anil Bastawde and a few others.
The IT department in its questioning of Vijay Joshi, a business partner of Binod Sinha, has recorded that Joshi got 15% shares of Emmar Alloys Private Limited company with share capital of worth Rs10.70 crore without paying.
The application money was arranged by Sinha brothers who bought the firm along with another associate Sanjay Palsania. Koda's personal secretary Arun Kumar Srivastava also accepted during questioning that Vikash Sinha was working with other associates to launder proceeds of crime and has committed offence of money laundering, sources said.
The ED, through IT records, has found alleged undisclosed income of Rs11.80 crore of both Binod and Vikash Sinha on the basis of the statement given by the Jamshedpur based Chartered Accountant of Koda and Sinha brothers -- SK Naredi.
Vikash, now in ED custody, accepted during questioning that he carried Rs40 crore himself from Ranchi to Kolkata and transferred the money for hawala transaction on behalf of his brother Binod and Koda, sources claimed.
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