ED to attach Koda assets worth Rs 130 crore

More than a month after the Enforcement Directorate filed a chargesheet against former Jharkhand chief minister Madhu Koda and his associates.

More than a month after the Enforcement Directorate filed a chargesheet against former Jharkhand chief minister Madhu Koda and his associates,accusing them of amassing illegal wealth worth Rs 1,340 crore,the agency said it would soon be initiating the process of attaching his properties which is worth Rs 130 crore.

Officials said on Tuesday that they have received an approval order from the adjudicating authority under the Prevention of Money Laundering (PMLA) Act in New Delhi.

ED officials said that Koda,who is accused in a multi-crore scam,came under their scanner in 2009 after which several cases of PMLA were registered against him. They said that apart from properties in his name,those in the name of his associates and family members,which are valued at more than Rs 200 crore,will also be attached. This will include all movable and immovable assets.

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According to the officials,the properties have been identified in Jharkhand and Bihar. These will be sealed and a complete embargo would be issued by the agency against their sale and purchase as an inquiry is in process against the owners Koda and his associates.

The ED is is also awaiting replies to its Letters Rogatories sent to countries like Dubai,Sweden,Thailand,Indonesia and Liberia to probe illegal investments in this case.