The Enforcement Directorate (ED) has conducted search and seizure operations at 17 residential and office premises linked to directors and promoters of the Amrit Group of companies in Kolkata and Indore. The action is part of an ongoing investigation into alleged cheating and money laundering involving funds collected from members of the public.
The searches reportedly covered premises associated with individuals including KC Dujari and Kali Kishore Bagchi, along with others connected to the group. The ED's Kolkata zone launched the operation under Section 17 of the Prevention of Money Laundering Act (PMLA), with assistance from security forces and state police. Officials said the searches were continuing.
Deposit Schemes and High-Return Promises Under Investigation
According to officials, the Amrit Group and its directors are being investigated over allegations that substantial amounts were collected from the public through different deposit schemes. The schemes allegedly promised investors high returns, but the promised payments were reportedly not made.
The investigation is focused on understanding how the funds were collected, how they were subsequently handled and the role of individuals and entities associated with the group. The allegations remain subject to investigation and have not been established as proven wrongdoing.
ED Examines Documents to Trace the Financial Trail
During the searches, ED officials have been examining documents and other material available at the premises. The objective is to trace the movement of funds and establish the financial trail connected with the alleged transactions.
Investigators are also examining the roles of the group's directors and promoters and whether funds collected through the deposit schemes were transferred through other entities or individuals.
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Company Records and Possible Assets Under Review
The ED is also expected to examine corporate records and documents belonging to individuals associated with the Amrit Group. Investigators are looking into the extent of the alleged financial irregularities and whether any assets can be connected to suspected proceeds of crime.
The searches in Kolkata and Indore are part of the ongoing investigation. At this stage, the available reports do not provide details of any final findings or establish criminal liability against the individuals being investigated.
Conclusion
The ED's searches across 17 locations mark another stage in its investigation into alleged public-fund collection and money laundering linked to the Amrit Group. Further examination of financial records and other evidence is expected to determine the movement of funds and the roles of the entities and individuals under scrutiny.