KOLKATA: The Enforcement Directorate (ED) initiated fresh searches on Friday as part of its ongoing money laundering investigation into Merlin Group, a Kolkata-based real estate company, and related entities, according to officials.
This recent action follows previous raids conducted by the agency on April 8 targeting Merlin Projects Limited and its promoters, Sushil Mohta and Saket Mohta.
Officials indicated that 4-5 locations in Kolkata and the North 24 Parganas district are being searched under the Prevention of Money Laundering Act (PMLA) as part of the investigation.
The Merlin Group has stated that it is cooperating with the ED and maintains that all its transactions are transparent.
The agency is exploring alleged financial connections between the company and certain politicians and officials within the West Bengal government as part of this investigation.
The promoters and the company are under scrutiny for alleged fabrication of a “false” chain of title using “forged” documents, which has led to accusations of land-grabbing.
According to the agency, the accused have purportedly “commercially exploited” land that they had allegedly seized by launching “large-scale” real estate ventures. They are accused of using “forged” documents to project themselves as legitimate owners, attracting significant public investment in their projects.
The company contends that the project under investigation, the Merlin Niyasa project, was developed based on a “valid” agreement executed transparently and lawfully.
West Bengal is scheduled to hold elections in two phases on April 23 and April 29.
