Rs 1.10 Crore Water Plant Investment Linked to Murder Motive
According to the SIT, Sharma invested nearly Rs 1.10 crore in a packaged drinking water business using money allegedly misappropriated from Zubeen Garg. The investment was made in Mahabir Aqua Water Plant, located at the Chatabari Industrial Area in Chaygaon.
SIT chief investigating officer Dr Rosie Kalita submitted before the court that this financial investment was one of the key reasons behind the premeditated murder of the singer.
SIT Seeks Attachment of Property Under BNSS
The SIT moved a petition seeking attachment and forfeiture of the Mahabir Aqua Water Plant under Section 107 of the Bharatiya Nagarik Suraksha Sanhita (BNSS). The investigators warned that if the property is not attached immediately, Sharma and his business partner Chetan Dhirasaria may liquidate the assets.
The petition stated that such liquidation could affect any future compensation ordered by the court for the victim, late Zubeen Garg.
Court Issues Notices, Seeks Reply by January 17
After hearing the submission, Judge Gautam Baruah ordered 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 has directed them to submit their replies by January 17.
Money Laundering and Benami Transactions Alleged
In his order, the judge noted that the SIT had thoroughly investigated the source of the funds invested in Mahabir Aqua. The investigation reportedly found that the money originated from funds misappropriated from Zubeen Garg.The court observed that Sharma allegedly used benami transactions and money laundering techniques to legalise the ill-gotten money. These financial crimes, the SIT said, formed the core reason for seeking attachment of the assets.
Cash Show Fees and Forged Banking Practices
As per the SIT submission, Sharma routinely accepted show fees in cash on behalf of the singer and deliberately avoided depositing the money into official bank accounts. This practice allegedly helped him siphon funds and launder money through multiple channels.
The investigators claimed that Sharma used employees, relatives, and other individuals to deposit cash into bank accounts to legitimise the funds.
Sudden Rise 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 until November 2022. His sudden ability to invest crores soon after raised serious suspicion.
A detailed forensic audit and financial analysis of Sharma’s bank transactions and investments was carried out by an empanelled chartered accountant firm, the court was told.
Investigation Still Ongoing
The court noted that the SIT continues to probe the financial trail, money laundering methods, and alleged criminal conspiracy linked to the murder of Zubeen Garg.
The case remains under active investigation.
Inputs from TOI