Kolkata, Sep 6 (IANS) An Enforcement Directorate (ED) team was carrying out search operations at the residence of a business family, involved in share trading and money market operations, in north Kolkata since Sunday morning.
In this raid, instead of the Central Armed Police Forces (CAPF) personnel, the ED team was escorted by Kolkata Police personnel.
It is learnt that a team of ED officials from the central agency’s eastern regional office turned up at the Phoolbagan Police Station, under whose jurisdiction the residence of the said business family falls.
After completion of the necessary formalities there, a joint team of ED officials and police from the Phoolbagan Police Station arrived at the multi-story building named “Shivam” located at Kankurgachi.
The ED officials are tight-lipped over the exact reason behind the raid and search operations. It is learnt that the residence at which the raid and search operations are being conducted belongs to the Shah family, who are involved in share trading and money market operations.
Recently, ED had become active again in West Bengal over a number of money-laundering cases. On September 3, ED officials conducted search operations at multiple locations in Kolkata, as part of a money-laundering investigation linked to an alleged Rs 290 crore bank-loan fraud by a private company.
The private company had availed loans from banks to set up a 66 MW power plant in Jharkhand, but the loans were allegedly “siphoned off” to other group entities and for personal use.
On September 2, the ED launched search operations at 14 premises under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002, in different locations in the country, including Kolkata, as part of an investigation into alleged fraudulent collection at various National Highways Authority of India (NHAI) toll plazas.
The searches were carried out in locations across Uttar Pradesh, Rajasthan, Maharashtra, Jammu, Madhya Pradesh, the National Capital Region (NCR), as well as Kolkata.
–IANS
src/vd
