Madhu Koda associate deposited 640 crore cash in one branch of Mumbai bank
Nov 13, 2009 General Info
This seems to be the biggest slip by an Indian financial institution which is supposed to maintain heightened vigilance on suspicious and high-value cash transactions. At least Rs 640 crore was deposited in cash by one of the alleged front companies of former Jharkhand CM Madhu Koda in a state-owned bank in Mumbai. The bank failed to trigger an alert to countless intelligence agencies tasked to keep a tab.
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Tags: cash deposits, cash transactions, delhi office, ed officials, enforcement directorate, intelligence agencies, legal money, union bank of india