KOLKATA | NEW DELHI: The Enforcement Directorate (ED) conducted searches at the premises of Kolkata-based real estate firm Merlin Group and its promoters on Wednesday as part of a money laundering inquiry, officials confirmed.
Approximately seven locations connected to the company and its promoters, Sushil Mohta and Saket Mohta, were raided under the Prevention of Money Laundering Act (PMLA).
A response from Merlin Group regarding the searches is still pending.
The promoters and the company are under scrutiny by the federal agency for allegedly fabricating a “false” chain of title with “forged” documents, which has raised land grabbing allegations. This action comes just ahead of the upcoming elections in West Bengal, scheduled for April 23 and April 29.
The ED accuses the accused of “commercially exploiting” the allegedly acquired land by launching extensive real estate projects.
By misrepresenting themselves as legitimate owners through “forged” documents, the promoters reportedly persuaded the public to invest “substantial” amounts into their real estate initiatives.
