ED Raids Spark Turmoil in Siliguri’s Real Estate Sector

The Directorate of Enforcement (ED) conducted simultaneous raids at six locations in Siliguri on Tuesday, creating a significant stir in the city’s real estate sector. The raids began early in the morning, targeting premises in Khalpara, Natunpara, and Lake Town. These operations are part of an ongoing investigation into alleged financial irregularities and economic crimes.

Sources revealed that the locations under scrutiny are linked to prominent businessmen, R Aggarwal and B Rampuria. Central security forces were deployed to ensure the smooth execution of the raids, which were carried out under tight security. According to officials, three premises in Khalpara, two in Natunpara, and one in Lake Town are being searched. A similar raid in Natunpara was conducted a few days ago, leading to the arrest of one individual.

ED sources disclosed that hundreds of bank accounts with unusually high-volume transactions are currently under investigation. The account holders reportedly have no direct involvement in the transactions but are believed to receive a fixed monthly payment for allowing their names to be used. This practice is suspected to be part of a larger scheme to launder money and evade taxes.

The raids are still underway, and further details are expected to emerge as the investigation progresses. The real estate sector in Siliguri is on high alert, with many stakeholders concerned about the potential implications of these raids. The city’s real estate market has been growing rapidly, and such investigations could have far-reaching consequences for the industry.

The ED’s actions are part of a broader effort to combat financial crimes and ensure transparency in the real estate sector. The raids are not only aimed at uncovering illegal activities but also at sending a strong message to potential wrongdoers. The ongoing investigation is likely to have a significant impact on the business practices and regulatory frameworks in the region.

As the investigation continues, the real estate community in Siliguri is closely monitoring the developments. Many are hoping for a swift resolution that will restore confidence in the market. The outcome of these raids will be closely watched, as it could set a precedent for future enforcement actions in the real estate sector.