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Jharkhand ex-CM Madhu Koda granted bail

April 05, 2012 16:09 IST

The Jharkhand high court on Thursday granted bail to former state Chief Minister Madhu Koda, who has been in prison after his arrest over two years in connection with illegal investments and hawala transaction case.

Koda, who faces at least five corruption cases, was granted bail in one of the cases by the single bench of H C Mishra.

He got bail in a case in which the Central Bureau of Investigation had filed charge sheet against him and others in a special court.In this case, the agency had accused them of allotting mining leases to some companies illegally.

Koda will continue to stay in judicial custody in other cases of corruption.

Koda, who ruled the state between 2006 and 2008, was arrested by the officers of Jharkhand Vigilance Bureau from Chaibasa after the October 2009 countrywide raids by Income Tax and Enforcement Directorate in 69 premises.

The IT had alleged that documents relating to illegal investments and hawala transactions worth Rs 2,500 crore were seized during the premises of Koda and his alleged associates.

Later, CBI took over the case and along with the ED, charged him with making illegal investments and indulging in hawala transactions with others during his chief ministerial term for 23 months.

Koda was an Independent member Legislative Assembly and had led the United Progressive Alliance government in Jharkhand. His alleged aides Binod Sinha, Vikas Sinha and three others are now in judicial custody in connection with the same case.

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