Kolkata. In a sweeping move related to a money‑laundering case, the Enforcement Directorate (ED) carried out coordinated raids on roughly 17 premises associated with Amrit Group entities and their promoters in Kolkata and Indore, Madhya Pradesh, on Wednesday.
The operations were executed under the provisions of the Prevention of Money Laundering Act (PMLA), following complaints that a large number of investors fell victim to a suspected fraud scheme.
Alleged collection of public funds on the promise of lofty returns
According to the investigating agency, several Amrit Group companies and their directors allegedly raised money from the public through assorted deposit schemes, assuring investors unusually high returns. The authorities claim that these promised payouts were never honoured.
The raids form a critical component of the broader probe into the financial irregularities and possible money‑laundering activities linked to the case. Officials have not yet revealed the nature of documents or other evidence seized during the searches.
As of now, representatives of Amrit Group and its promoters have not provided an official comment on the ED’s actions.
