Merlin Group Money Laundering Case: ED Conducts New Searches

The Enforcement Directorate has expanded its investigation into the Merlin Group money laundering case, conducting fresh searches in Kolkata and North 24 Parganas, focusing on alleged financial links to politicians and officials.

Key Points

The Enforcement Directorate (ED) conducted new searches related to the Merlin Group money laundering case.
The searches targeted entities allegedly linked to the Kolkata-based real estate company.
The investigation focuses on alleged financial connections between Merlin Group and West Bengal politicians and officials.
Merlin Group denies any wrongdoing and claims full cooperation with authorities.
The ED alleges the company used forged documents to grab land and induce public investment in real estate projects.

The Enforcement Directorate on Friday conducted fresh searches against some entities being probed in connection with the money laundering case against Kolkata-based real estate company Merlin Group and some others, officials said.

The action in the poll-bound state is the follow-up of the raids conducted by the agency on April 8 against the Group (Merlin Projects Limited) and its promoters, Sushil Mohta and Saket Mohta.

Around five premises in Kolkata and the North 24 Parganas district of certain entities involved in the case are being searched under the Prevention of Money Laundering Act (PMLA) on Friday, they said.

Merlin Group Responds To ED Investigation

A Merlin Group spokesperson said in a statement that none of its premises was raided by the ED on Friday.

"Merlin Group is a law-abiding corporate organisation and remains fully committed to conducting its operations in strict compliance with all applicable laws. We continue to extend our full cooperation to the authorities," the statement said.

Allegations Against Merlin Group

ED officials had said the agency is investigating alleged financial links between the company and some politicians and officials of the West Bengal government as part of this probe.

The promoters and the company are under the ED scanner on charges of fabricating a "false" chain of title using "forged" documents, leading to land-grabbing allegations.

The agency alleged that the accused commercially "exploited" the purportedly grabbed land by launching "large-scale" real estate projects.

By projecting themselves as lawful owners using "forged" documents, the accused induced the public to invest "substantial" sums in their real estate projects, the agency alleged.

Merlin Group Defends Project Title

The company stated that its project under scrutiny -- Merlin Niyasa -- was developed under a "valid and lawful" agreement, and various judicial forums, up to the Supreme Court, have adjudicated the project's title in favour of the current landowners.

West Bengal will have two-phase polls on April 23 and April 29.

Under the Prevention of Money Laundering Act (PMLA), the ED has the authority to attach and seize assets believed to be derived from the proceeds of crime. The next stage of the investigation will likely involve further questioning of individuals connected to the Merlin Group and scrutiny of financial documents to trace the flow of funds.

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