Koda gets bail from SC, but to remain in jail

Last Updated: Fri, Mar 01, 2013 16:20 hrs

New Delhi, Mar 1 (IANS) The Supreme Court Friday granted bail to former Jharkhand chief minister Madhu Koda and his associate Vikas Kumar Sinha in the money laundering case.

However, Koda, currently incarcerated in Ranchi jail, would not be released as he is accused in several other cases including for Income Tax evasion and corruption in implementation of the Rajiv Gandhi rural electrification scheme in the state's Palamu and Dumka districts. He is in jail since November 2009.

A bench of Justice H.L.Dattu and Justice Ranjan Gogoi, while granting bail to Koda and his aide, said this would be subject to the conditions by the trial court hearing the case.

Koda got bail after the apex court was told that the Enforcement Directorate (ED) had told the trial court that the probe in money laundering case was over. His plea for bail in the money laundering case was rejected by the Jharkhand High Court.

Koda has been accused of involvement in laundering Rs.3,549.72 crore and was accused by the ED of making illegal investments to the tune of Rs.1,340 crore.

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