Income Tax Raid on former Jharkhand CM Madhu Koda's Properties

New Delhi: Breaking News! The Income Tax (IT) sleuths have raided on 70 premises of former Jharkhan Chief Minister Madhu Koda across the country. The places, which were raided by 400 officials, included Jharkhand, Bihar, Mumbai, Kolkata and Delhi. Madhu Koda is a sitting MP of Lok Sabha.

Madhu Koda has reportedly investments in India, Singapore, Thailand, South Africa, Dubai and Liberia. HE and three of his colleagues Kamlesh Singh, Bhanu Pratap Singh and Bandhu Tirkey, have been charged under Prevention of Money Laundering Act (PMLA) are being accused of laundering more than Rs 700-800 crore.

Modhu Koda was elected as an Independent MLA to Jharkhand Assembly. He was the Mines Minister during the short tenure of Arjun Munda and later became the Chief Minister with the help of Congress, RJD and JMM. He became the first independent MLA in the country to become Chief Minister.

Koda was forced to resign after Shibu Soren was cleared of the murder charges and wanted to become the Chief Minister. Shibu Soren resigned after losing the by-polls and Jharkhand Assembly was put under suspended animation.

The Jharkhand Assembly has now been dissolved and elections will be held in the state in November-December. Koda won the Lok Sabha polls from Singhbhum as an independent.

Koda reportedly invested in various sectors in the country - steel, cement, cars, infrastructure, agro products and tourism. He has a mine in Liberia worth $17,00,000. He is also said to have invested more than Rs.4,000 crore in mines in South Africa.