SC gives 45 days to complete Madhu Koda money laundering probe

Last Updated: Tue, Jan 29, 2013 17:10 hrs

New Delhi, Jan 29 (IANS) The Supreme Court Tuesday granted the Enforcement Directorate custody of former Jharkhand chief minister Madhu Koda, accused of money laundering, and allowed it 45 days to complete its probe.

Permitting the custody of Madhu Koda, a bench of Justice H.L. Dattu and Justice Ranjan Gogoi said it felt that the plea for Koda's custody was "reasonable".

Appearing for Enforcement Directorate, Additional Solicitor General Harin Rawal told the court that Anil Bastawade - a fugitive businessman in respect of whom a red corner notice has already been issued - was expected to be brought back to India shortly. Bastawade is a close associate of Koda in the alleged money laundering case.

Bastawade has already been detained in Indonesia in pursuance of the red corner alert by Interpol.

Koda is lodged in Ranchi jail since November 2009 and the court was hearing his bail plea. He is facing a case of alleged financial irregularities during his tenure as chief minister.

The ED's plea for more time was opposed by Koda's counsel Shekhar Nafade and U.U. Lalit who said that ED had already told the trial court that it had completed its investigation, and charged it with taking a different stand before the apex court.

More from Sify: