A Fast Track Court in Guwahati has ordered the seizure of assets belonging to Siddhartha Sharma, the former manager of Indian singer Zubeen Garg, in connection with allegations of financial irregularities linked to the singer’s estate following his death in Singapore last year.
Zubeen Garg died on 19 September last year in Singapore while attending the North-East Festival. He had travelled there to participate in the event and did not return alive. His death prompted multiple inquiries in Assam, including scrutiny of financial transactions and the management of his assets.
Acting on the direction of Assam Chief Minister Himanta Biswa Sarma, the state government formed a Special Investigation Team (SIT) in September to investigate the circumstances surrounding the death and related financial matters. The probe subsequently included individuals closely associated with the singer, including his manager Siddhartha Sharma.
The Guwahati Fast Track Court has now directed the seizure of properties linked to Sharma’s proprietorship concern, “Mahabir Aqua”. According to submissions made before the court, approximately ₹1.10 crore was invested in the business entity, with investigators alleging that the funds were drawn from the singer’s financial resources.
During the proceedings, it was stated that Sharma failed to provide a satisfactory explanation regarding the source of his income. He also did not produce key financial records, including income tax returns and other supporting documentation requested during the investigation.
In addition, the court ordered the seizure of six bank accounts associated with Sharma, either held directly in his name or operated under his control. The presiding judge, Sharmila Bhuyan, noted that materials submitted by the investigating officer pointed towards irregular financial activity and indicated possible misuse of funds linked to the deceased singer.
A 49-page chargesheet filed in the case reportedly outlines allegations of financial misconduct, including misappropriation of funds, transfer of money across accounts, and suspected concealment of financial transactions. Investigators have also pointed to inconsistencies in the financial disclosures provided by the accused.
Summary of Financial Allegations Presented in Court
| Aspect |
Details |
| Business entity involved |
“Mahabir Aqua” |
| Alleged investment amount |
₹1.10 crore |
| Bank accounts seized |
6 accounts linked to Siddhartha Sharma |
| Main allegations |
Misappropriation, fund diversion, possible laundering |
| Documentation status |
Income tax returns and financial records not submitted |
The court observed that the available evidence suggested unexplained financial activity and significant discrepancies in the flow of funds under review. It further noted that the income sources presented by the accused appeared unsubstantiated based on the materials submitted by investigators.
The Special Investigation Team continues its inquiry into financial transactions and related evidence as proceedings move forward in the case. Further judicial action is expected as the investigation progresses.
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