Zubeen Garg death case: Ex-manager invested crores in water plant using singer’s money, murder was ‘premeditated’, says SIT
Rs 1.10 Crore Water Plant Investment Linked to Murder Motive
According to the SIT, Sharma invested around Rs 1.10 billion in the packaged drinking water business using money allegedly embezzled from Zubeen Garg. The investment was made in Mahabir Water Water Plant located in Chatabari Industrial Area in Chaygaon.
SIT chief investigating officer Dr. Rosie Kalita stated before the court that this financial investment was one of the main reasons behind the intentional murder of the singer.
SIT Seeks Property Seizure Under BNSS
The SIT filed a petition under Section 107 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) seeking attachment and forfeiture of the Mahabir Water Plant. Investigators warned that if the property was not seized immediately, Sharma and his business partner Chetan Dhirasaria could liquidate the assets.
The petition stated that such a liquidation could affect the future compensation awarded by the court for the late victim Zubeen Garg.
Court Issued Notification, Waiting for Response by January 17
After hearing the statement, Justice Gautam Baruah ordered the issuance of notices to Siddharth Sharma and his partner asking them to show cause as to why the property should not be attached. The court directed them to submit their answers by January 17.
Alleged Money Laundering and Benami Transactions
In his order, the judge noted that the SIT had thoroughly investigated the source of funds deposited in Mahabir Aqua. The investigation reported that the money originated from funds misappropriated from Zubeen Garg. The court observed that Sharma allegedly used benami transactions and money laundering techniques to legalize ill-gotten money. SIT said these financial crimes constitute the main reason for seeking attachment of assets.
Cash Show Fees and Fake Banking Practices
According to the SIT’s submission, Sharma routinely accepted show fees in cash in the singer’s name and deliberately avoided depositing the money in official bank accounts. This app allegedly helped him withdraw money and launder money through multiple channels.
Investigators alleged that Sharma used employees, relatives and others to deposit cash into bank accounts to legitimize the funds.
Sudden Increase in Wealth Raises Red Flags
The SIT also highlighted that Sharma was a salaried employee earning Rs 57,000 per month from TM Ventures Pvt. Ltd by November 2022. Soon his ability to suddenly invest crores raised serious doubts.
The court was told that a detailed forensic audit and financial analysis of Sharma’s bank transactions and investments were carried out by a firm of chartered accountants on staff.
Investigation Still Ongoing
The court noted that the SIT continues to investigate the financial trails, money laundering methods and alleged criminal conspiracy linked to the murder of Zubeen Garg.
The case remains under active investigation.
Inputs from TOI
