End probe against Kripashankar in four weeks: HC

“No criminal prosecution has been lodged on the basis of these reports? According to the ACB report,Kripashankar has disproportionate assets up to Rs 43 lakh,” the court remarked. Additional Solicitor General D J Khambatta and Advocate General Ravindra Kadam told the court that the agencies are sharing information and will require more time.

Chief Justice Mohit Shah also raised questions regarding the allegations made by the petitioner earlier regarding the money deposited by Dynamix Realty,that is under the scanner for the 2G spectrum scam,in Singh’s son’s bank account. “What about the so-called interest-free loans received by the son? Is it not possible to connect the two?” Chief Justice Shah asked. Last week,Tiwari had informed the court that the DB Realty subsidiary had deposited Rs 4.5 crore in Singh’s son Narendra Mohan and daughter-in-law Ankita’s account during 2008-09.

“The I-T inquiry is almost done. The agency has identified the sources of funds of Kripashankar’s son. The ED will now see if there is any money laundering. It has found no evidence to indicate a nexus between Singh and (Madhu) Koda,” Khambatta said.

“Even if there is no Koda angle to the entire case,the I-T and ED should still look into this Rs 60 crore amount. The deposit of this amount has been revealed in diaries seized from Koda’s residence,” Jethmalani had told the court earlier.

“Singh’s wife owns a 258-acre agricultural plot in Ratnagiri worth Rs 25 crore,along with the owner of a private security firm,” an affidavit filed by Tiwari stated. “The land was purchased at the time when Singh was the state Home Minister and had granted 104 arms licences to the security firm as a kickback,” the affidavit added. Singh’s counsel Janak Dwarkadas had,however,denied the allegations.