ED Raids Spark Turmoil in Siliguri’s Real Estate Sector
The Directorate of Enforcement (ED) conducted simultaneous raids at six locations in Siliguri, causing a significant stir in the city’s real estate sector. The raids are part of an ongoing investigation into alleged financial irregularities and economic crimes.
Real EstateSiliguriEd RaidsFinancial IrregularitiesEconomic CrimesReal EstateJun 17, 2025
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.
Frequently Asked Questions
What prompted the ED raids in Siliguri?
The raids were prompted by an ongoing investigation into alleged financial irregularities and economic crimes in the real estate sector.
Who are the prominent businessmen linked to the raided locations?
The prominent businessmen linked to the raided locations are R Aggarwal and B Rampuria.
How many locations were raided by the ED in Siliguri?
The ED conducted raids at six locations in Siliguri, including three in Khalpara, two in Natunpara, and one in Lake Town.
What is the significance of the high-volume bank transactions under investigation?
The high-volume bank transactions are significant as they are suspected to be part of a money laundering scheme, where account holders receive fixed monthly payments for allowing their names to be used.
What are the potential implications of these raids for the real estate sector in Siliguri?
The raids could have far-reaching implications for the real estate sector in Siliguri, potentially leading to stricter regulations and a crackdown on illegal practices, which may impact the market's growth and transparency.
Related News Articles
Reaching New Heights: Palais Royale Redefines Luxury Living
Experience unparalleled luxury living at Palais Royale, India's tallest skyscraper, where the first habitable floor starts at a breathtaking 82.5 meters.
Sohna Road Housing Market Sees Significant Surge in Capital Appreciation and Rental Values
Sohna Road's housing market has witnessed a 54% capital appreciation and 40% rent rise since 2022, making it one of the top-performing micro-markets in Delhi-NCR.
Maharashtra Polls: Major Seizure of Cash and Goods Worth Rs 27.6 Crore in Thane
In a significant crackdown ahead of the Maharashtra Assembly elections, law enforcement agencies in Thane seized cash and goods worth Rs 27.6 crore. This operation is part of the ongoing efforts to curb illegal activities and ensure a fair electoral proce
41 Crore Worth of Gold and 10 Crore in Cash Seized in Abandoned Vehicle in Madhya Pradesh
In a major crackdown, authorities in Madhya Pradesh seized a staggering 54 kg of gold worth Rs 41 crore and Rs 10 crore in cash from an abandoned vehicle. The operation came just hours after raids were conducted on the house and office of real estate agen
Pune: Maharashtra Government Revokes PMRDA Development Plan; Initiates New Planning Process
The Maharashtra government has scrapped the PMRDA's development plan for Pune and initiated a fresh planning process. This move is expected to bring significant changes to the city's infrastructure and real estate landscape.
Gautam Adani's Strategic Move: Adani Group Subsidiary Acquires 48,000 Sq Ft Property in Malabar Hill
In a significant move, a subsidiary of the Adani Group has purchased a sprawling 48,000 square foot property in Malabar Hill, one of Mumbai's most exclusive and expensive neighborhoods. This acquisition underscores the group's growing presence in luxury real estate and strategic investments.