Koda scam: Union Bank under ED scanner
November 13th, 2009 - 6:00 pm ICT by ANIMumbai, Nov 13 (ANI): The Enforcement Directorate (ED) today issued notice to the manager of Union Bank in connection with the Madhu Koda scam.
The manager employed at Union Bank’s Zaveri Bazaar branch in Mumbai, has been asked to appear before the ED today or by 2 p.m. tomorrow.
Koda’s front companies are said to have deposited Rs 640 crores between November 2006 and December 2008.
The bank has come under scanner for failing to alert the financial intelligence unit of these transactions.
The ED will ask the official to give details on whether all rules were followed before accepting such a huge deposit.
The ED will also ask the official if he had informed the establishment about the transaction.
Reserve Bank of India (RBI) rules direct banks to authenticate the identity of the depositor and the source of the funds.
On Tuesday, a team of investigators spent the whole day at the residence of Koda, a former Chief Minister of Jharkhand, sifting through his papers and questioning him after he got discharged from the Apollo Hospital in Ranchi.
Koda is being accused of being involved in hawala transactions and making illegal investments. (ANI)
- Koda discharged from hospital to be questioned by IT officials - Nov 08, 2009
- Koda in hospital, sleuths in town to question him - Nov 04, 2009
- Madhu Koda to be questioned by IT department from Tuesday - Nov 08, 2009
- Vikas Sinha brought to Delhi by ED officials for further interrogation - Nov 08, 2009
- Koda's interrogation resumes - Nov 10, 2009
- Koda's house sealed, Swiss bank links being probed (Second Lead) - Nov 04, 2009
- Madhu Koda faces arrest on discharge from hospital - Nov 05, 2009
- Koda aide remanded in ED custody for 12 days - Nov 19, 2010
- Koda pleads innocence, interrogated by IT, ED (Third Lead) - Nov 08, 2009
- Madhu Koda to remain in hospital for another day - Nov 07, 2009
- Koda moved from ICU to general ward, ED set for arrest - Nov 05, 2009
- Madhu Koda's associate sent to ten days in Enforcement Directorate custody - Nov 07, 2009
- Madhu Koda associate arrested by Enforcement Directorate - Nov 06, 2009
- Koda's house sealed, Swiss bank connection being investigated (Lead) - Nov 04, 2009
- Enforcement Directorate grills Koda for four hours - Jan 21, 2010
Tags: apollo hospital, bank of india, banks, chief minister, crores, depositor, enforcement directorate, financial intelligence, intelligence unit, investigators, investments, madhu koda, mumbai, rbi, reserve bank of india, scanner, sifting through, union bank, zaveri bazaar