Madhu Koda's black empire engulfs Commonwealth Games

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Rajiv Azad

04 December, 2009

Government should take stringent steps to curb the menace of corruption, it can only be possible if corrupt people like Madhu Koda are taught lesson and put behind war to become rancid.

THE BLACK and shoddy empire built out of money siphoned off from Jharkhand coffer, abusing his constitutional position Chief Minister is now casting its shadow on Commonwealth Games, slated to take place next year in the national capital New Delhi.

For government sleuths engaged in decoding Madhu Koda’s black empire is a challenge, every investigation into his deeds brings shocking story and how he along with his colleagues and acquaintances plundered public money. In a recent development, investigations have revealed, Madhu Koda’s associate Vikash Sinha who is also in Judicial custody had said he invested huge amount on behalf of former Jharkahnd Chief Minister Madhu Koda in a leading real estate company of the country Emaar MGF. The firm Emaar MGF is a joint venture of UAE based Emaar group and Indian real estate giant MGF.

Following stunning revelation Enforcement Directorate conducted raids on Thursday (December 3), on several premises of Emaar MGF including Commonwealth Games site, branch offices in New Delhi, Noida and Gurgaon. Investigations into the alleged misuse of funds to the tune of 4000 crore also found some of the close associates of Madhu Koda on the board of some of the companies under Emaar group. The company according to reports allowed illegal investment and hawala transaction, violating certain land of the law including FEMA.

An official related with the raid said, “The raids were related to the violation of FEMA. Ten offices of Emaar MGF have been raided in Delhi and Noida in connection with violation of FEMA (Foreign Exchange Management Act) regulations and diverting money abroad." He further said, “we are also searching the residences of some of the board members." According to reports until now no documents or evidence against the real estate giant Emaar MGF showing link with Koda had been found, however investigations are still on and new development can be expected very soon.

Government should take stringent steps to curb the menace of corruption, it can only be possible if corrupt people like Madhu Koda are taught lesson and put behind war to become rancid. But given past record, rumours are abuzz that very soon he will be a free butterfly flaunting his political clout and emotionally blackmailing innocent tribals of his State, accusing political conspiracy to ruin the political career of an innocent person like him.