To widen the probe against former Jharkhand Chief Minister Madhu Koda and his associates for alleged illegal investments worth Rs 2,000 crore, the Income Tax (I-T) department and Enforcement Directorate (ED) will share information with various central economic intelligence agencies.
More than a week after the I-T department conducted nationwide searches at more than 70 properties of Koda and his aides, intelligence and enforcement agencies like the Central Economic Intelligence Bureau, Financial Intelligence Unit-India, will have access to the findings of the searches, sources in the Finance Ministry said.
The Directorate General of Intelligence (Central Excise) and Narcotics Control Bureau will also have access to the findings of the searches.
"As the initial investigation has found national and international investments in this case, it is essential to check and verify the sources, routing and final destination of such huge amount of money," the sources said.
Every agency, which would share the inputs from the ED and the I-T department, would be asked to carry out thorough checks according to their respective mandates, they said.
Market regulator Sebi and the RBI may also be informed as the seizures have shown a lot of investment by Koda and his associates in the share market and they are also in the possession of multiple bank accounts, they said.
