KOLKATA | NEW DELHI: The Enforcement Directorate (ED) announced on Thursday that it is probing potential financial connections between a Kolkata real estate firm and several politicians and government officials in West Bengal as part of a money laundering investigation.
Following raids at seven locations tied to the Merlin Group (Merlin Projects Limited) and its founders Sushil Mohta and Saket Mohta, investigators seized certain “incriminating” digital devices and documents.
The company has stated it is fully cooperating with the investigation and maintains that all of its transactions are transparent.
“Merlin Group is aware of the ongoing inquiry by the Enforcement Directorate concerning the Merlin Niyasa project in Kolkata,” the company mentioned in a statement.
“We reaffirm our commitment to cooperating with the authorities while ensuring compliance with all applicable laws,” it added.
ED officials are examining claimed financial ties between the company and certain political figures and government officials.
This action occurs as West Bengal approaches assembly elections, with voting scheduled for April 23 and April 29.
The promoters and the company are being scrutinized by the ED for allegedly fabricating a “false” chain of title using “forged” documents, which has led to land-grabbing accusations.
The agency alleges that the accused took commercial advantage of the purportedly seized land by initiating “large-scale” real estate projects.
They allegedly misrepresented themselves as lawful owners utilizing “forged” documents to encourage the public to invest “substantial” amounts in their projects.
The company asserted that the Merlin Niyasa project was developed under a “valid” agreement, executed transparently and lawfully.
“Importantly, the title for the project’s land was adjudicated in favor of the current landowners well in advance by various courts, including the Honorable Apex Court,” the statement said.
“We regret that certain unfounded litigations by third parties have prompted this inquiry, which is a lamentable trend in the real estate sector aimed at causing project delays and undue demands,” it concluded.
