ED raids 2010 Games building firm Emaar MGF

The Enforcement Directorate today conducted searches on the premises of realtor EMAAR MGF in connection with the multi-crore illegal Hawala and investment case involving former Jharkhand Chief Minister Madhu Koda.

The Enforcement Directorate on Thursday conducted searches on the premises of realtor EMAAR MGF in connection with the multi-crore illegal Hawala and investment case involving former Jharkhand Chief Minister Madhu Koda.

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The search followed the ED finding certain documents that showed Koda's associates on the board of certain EMAAR group companies, ED sources said.

EMAAR MGF is a joint venture between Dubai-based EMAAR Properties and India's MGF Development.

Sources said one of Koda's associates, Vikash Sinha, who is in judicial custody, has now disclosed that he and some others had invested on behalf of Koda in the same companies.

When contacted, a Emaar MGF spokesperson did not offer any comments immediately.