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The Enforcement Directorate (ED) has arrested Amit Ganguly, Director of Ganguly Home Search Pvt Ltd, in connection with an investigation into a money laundering case relating to fraudulent acquisition, control and transfer of immovable properties belonging to multiple persons and entities.
ED's Kolkata zonal office arrested Ganguly on September 15 under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002. He was produced before the Special Court in Calcutta on September 16, which granted ED custody for four days. ED initiated an investigation on the basis of multiple First Information Reports (FIRs)registered by the West Bengal Police concerning various scheduled offences (invoking different sections of the Indian Penal Code) under the PMLA, 2002. During the course of investigation, ED said it was revealed that the accused, in connivance with associates and through various entities, was found involved in cheating, forgery and other fraudulent means leading to unlawful acquisition and usurpation and transfer of valuable immovable properties belonging to different individuals and entities. "Investigation further revealed the use of forged and fabricated sale deeds, agreements, powers of attorney, deeds of gift, Board Resolutions and other documents for creating and asserting false rights over properties. Land and municipal records were also allegedly manipulated on the basis of false claims and fabricated documents with the objective of unlawfully interfering with the possession and ownership rights of the actual owners," said the agency. Furthermore, the agency said, Ganguly used to acquire development rights over properties by entering into JVs with landowners and deliberately used to fail to honour the lawful entitlement of landowners, and used to fabricate documents to assert control over properties. "The proceeds and property rights arising from such criminal activities constitute proceeds of crime within the provisions of the PMLA, 2002.The Proceeds of Crime identified during investigation include valuable immovable properties and property rights," it said. Further, Ganguly is a subject of around 23 FIRs and has duped multiple investors and landowners using the above mentioned modus operandi. Earlier, the ED had conducted searches in the case on the premises belonging to Ganguly on March 28 this year leading to seizure of incriminating documents, digital devices and other records. ED further said the examination of the seized material revealed that Ganguly had influence with various local authorities and its officials in matters relating to real estate projects and other immovable properties. (ANI)
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