Kolkata: The Enforcement Directorate (ED) is conducting searches at eight locations across West Bengal as part of its investigation into an alleged Rs 280 crore bank fraud involving Kohinoor Power Pvt Ltd.
According to ED sources, the investigation is focused on the suspected laundering of proceeds of crime and their alleged use in manipulating proceedings before the National Company Law Tribunal (NCLT).
The searches are being carried out at residential and office premises linked to several individuals, including company directors, an auditor and resolution professionals. These individuals are suspected of being connected to different processes and activities involving the alleged proceeds of crime.
ED Probes Alleged Money Laundering From Jharkhand to Kolkata
Investigators suspect that funds generated through a power plant in Jharkhand were allegedly diverted and laundered to Kolkata.
The agency has also taken note of the alleged role of a Kolkata-based chartered accountant suspected of setting up shell companies and facilitating financial irregularities worth crores of rupees.
The searches are aimed at gathering evidence related to the alleged movement and utilisation of funds, including their suspected connection with NCLT proceedings.
Searches Across Kolkata and Other Bengal Districts
Apart from Kolkata, the ED’s search operation is underway in Uttarpara in Hooghly district, Asansol in West Burdwan district and Howrah.
The premises being searched reportedly belong to people suspected of having played different roles in the financial transactions and related proceedings under investigation.
The agency is examining the alleged bank fraud, suspected money laundering and possible misuse of the corporate insolvency resolution process. Further details about the searches and any action against those under investigation are awaited.
