ED Searches 17 Amrit Group Premises in Bengal, MP
ED Searches 17 Amrit Group Premises in Bengal, MP
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Key Points
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Reports said the Kolkata operation included six locations, with an ED team and Central Armed Police Forces personnel arriving at a businessman’s residence in North Kolkata’s Narkeldanga area at about 7 a.m.
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Investigators were reportedly questioning people linked to the entity during the searches, which were still continuing when the report was filed.
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Sources alleged that deposits were collected through multi-level marketing schemes without proper authorization from regulators and were then invested in various sectors through another corporate entity described as a shell company.
India's Enforcement Directorate conducted searches at 17 premises linked to the Amrit Group across Kolkata and Indore on Tuesday. The raids target directors and promoters suspected of collecting public deposits through unauthorized schemes promising high returns, then failing to repay investors Sprouts News.
Investigators examined records and traced fund flows under the Prevention of Money Laundering Act. Officials allege the group collected deposits via multi-level marketing without regulator approval, then funneled money through a shell company Sprouts News.
Raids Hit Six Locations in North Kolkata
An ED team and Central Armed Police Forces arrived at a businessman's residence in Narkeldanga, North Kolkata, around 7 a.m. The operation covered at least six locations in the city. Investigators questioned people linked to the group while examining documents and materials Sprouts News.
Directors and Promoters Under Investigation
The searches targeted premises connected to KC Dujari, Kali Kishore Bagchi, and other promoters associated with Amrit Group. Officials are working to identify assets potentially tied to suspected criminal proceeds. The operation was still underway when reports emerged Sprouts News.
Unauthorized Deposits Invested Through Shell Companies
Amrit Group allegedly collected deposits through multi-level marketing schemes without proper regulatory authorization. The collected funds were then invested across various sectors through another corporate entity described as a shell company, investigators claim Sprouts News. This structure allowed the group to obscure the money trail and avoid regulatory scrutiny.
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