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The Enforcement Directorate conducted searches at seven locations linked to Kolkata-based Merlin Group as part of a money laundering probe. The investigation relates to alleged land grabbing using forged ownership documents and raising funds by projecting false ownership claims. Authorities suspect that investors were misled into funding real estate projects built on disputed land. The case is also linked to earlier legal disputes, including a stalled INR 600 crore project and a demolition order in another development. The probe is ongoing, with officials examining financial records and land documents.
The Enforcement Directorate (ED) carried out search operations at seven premises linked to Kolkata-based Merlin Group and its promoters as part of a money laundering investigation under the Prevention of Money Laundering Act. The action covered offices and residential locations associated with the group, as officials gathered documents and digital records related to ongoing allegations. Advertisement
The probe is focused on promoters Sushil Mohta and Saket Mohta, who are under scrutiny for suspected involvement in financial and land-related irregularities. Officials indicated that the searches were conducted to trace the flow of funds and verify ownership claims linked to multiple real estate projects. The company has not issued any official statement on the matter so far.
According to findings shared by investigators, the case involves allegations of creating a false chain of ownership using forged land documents. These documents were allegedly used to claim legal rights over certain land parcels. Based on these claims, the land was then used for development projects, raising concerns about unauthorised land use and possible fraud.
Authorities suspect that the promoters projected themselves as legitimate landowners to attract investments from homebuyers and financial partners. Substantial funds are believed to have been raised on this basis. The agency is examining whether these funds were diverted or routed through multiple entities as part of suspected money laundering.
The current investigation also connects to earlier disputes involving the group. In the past year, legal issues were reported in a project valued at around INR 600 crore, where a joint development agreement came under question. A court had observed a prima facie case and temporarily restrained further action on the project.
In a separate matter, the Calcutta High Court had ordered demolition of a high-rise building linked to the group after finding violations in construction approvals. The court had also directed initiation of criminal proceedings against those involved. This development had impacted several homebuyers associated with the project.
The ongoing searches are part of a wider review of land transactions and project approvals linked to the group. Officials are continuing to analyse seized records to establish the extent of financial irregularities and identify the entities involved.
Source PTI
5th Jun, 2025
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