ED Raids Multiple Premises Linked to Kolkata Real Estate Firm

The Enforcement Directorate (ED) on Wednesday carried out searches at multiple locations associated with a Kolkata-based real estate company, Merlin Group, as part of an ongoing money laundering investigation, officials said.

The raids covered around seven premises connected to the company and its promoters, Sushil Mohta and Saket Mohta. The कार्रवाई was conducted under provisions of the Prevention of Money Laundering Act (PMLA).

Officials said the company and its promoters are being investigated over allegations of creating a fraudulent chain of property ownership through forged documents, leading to suspected land grabbing. The ED further alleged that the accused used the disputed land for commercial purposes by developing large-scale real estate projects. By presenting themselves as legitimate owners on the basis of allegedly falsified documents, they are accused of persuading members of the public to invest significant amounts in these projects.

The development comes at a time when West Bengal is heading into elections, with polling scheduled in two phases on April 23 and April 29. The company’s response to the searches was awaited at the time of reporting.

Merlin Group is a prominent real estate firm in Kolkata, known for its extensive portfolio of residential and commercial properties. The allegations of fraudulent activities and money laundering have raised serious concerns among investors and the public. The ED's investigation aims to uncover the extent of the alleged misconduct and ensure that any illegal activities are brought to light and appropriately addressed.

The impact of these allegations on the upcoming elections in West Bengal remains to be seen. Political observers are closely monitoring the situation, as the timing of the raids could influence voter sentiment and the overall political landscape in the state.