Sanjay Ojha, TNN, Jan 16, 2011, 04.29pm IST

http://timesofindia.indiatimes.com/city/ranchi/ED-files-chargesheet-against-Koda-aide/articleshow/7294437.cms

RANCHI: The enforcement directorate (ED) on Saturday filed chargesheet against Binod Sinha, a close aide of former Jharkhand chief minister Madhu Koda in a special court here.

In the 86-page chargesheet filed in the court of special judge of the Prevention of  Money Laundering Act (PMLA) G K Singh, the ED gave details of the investment and transactions made by Sinha, showing that some of them were made in foreign companies.

The money laundering case had surfaced in 2009 when income tax and ED officials conducted nationwide raids in connection with assets made by Sinha, Koda and other associates of the former chief minister during 2006-08. Around Rs 4,000 crore was allegedly generated by Koda and his associates by making favourable recommendations for mining lease to many big companies and allotment of contracts in the Rajiv Gandhi Gramin Vidyutikaran Yojna.

According to ED's advocate S R Das, the agency has found evidence of investment and transaction worth more than Rs 900 crore during the investigation. "The biggest investment made by Sinha was to the tune of Rs 650 crore in Mumbai-based Balaji Bullion Bazar. Details of the investment are given in the chargesheet," said Das.

The other companies in which Sinha had allegedly invested are Satyam Art and Media Private Limited, Natraj Financial Services, Balaji Bullion Private Limited. The agency got records of transactions by Sinha with Binny Iron and Steel, IAG, Anjaniputra Ispat, Creative Fiscal Securities, Eastern Steel Limited, Bharat Glass Tube and Royal Tata Centre.

"Transaction records show that maximum amount was invested in IAG which was around Rs 29.80 crore, followed by Creative Fiscal Securities which was around Rs 22.64 crore," an ED official said.

Das said the court also took cognizance of the case based on the details filed in the chargesheet. "Filing of chargesheet has paved the way for trial of the case," said the ED counsel.