The Enforcement Directorate (ED) on Thursday stated that it had a specific input concerning one “highly influential political person” who was attempting to launder money. This prompted a search action at one premises in Kolkata, from where Rs 1.4 crore cash was seized.
“A specific intelligence input was gathered that one highly influential political person was making an attempt to launder the proceeds of crime originating from coal smuggling through his close confidant Manjit Singh Grewal @Jitti Bhai,” a press release, by ED, stated.
Based on the information, the directorate laid a trap and conducted the search on Wednesday, at the office of Gajraj Group, at Earl Street in Kolkata. This resulted “in seizure of Rs. 1.4 crore cash and also incriminating media” from the place of search.
The ED said that this money was unaccounted cash, a part of the total cash payment of approximately Rs 9 crore, for a property called Salasar Guest House at “undervalued price”. The property has a market value of over Rs 12 crore, but the deed value has been shown around Rs 3 crore: “This money was part of the agreed differential amount to be paid in cash from the proceeds generated from coal smuggling,” the ED mentioned.
The registry for the property was done on 8 February, at an undervalued price, and “cash was being exchanged at the office of Vikram Sakaria of Gajraj Group” around 5pm. “Preliminary analysis of material on record suggests a greater nexus and it appears that this person was also involved in handling illegal cash of minister. Further, investigation is in progress,” the release mentioned.