Kolkata, September 18 (Daily Kiran) : The Enforcement Directorate (ED) has intensified its investigation into the Amrit Group, conducting significant raids across Kolkata, Indore, and Jaipur. This action, which took place on September 16 and 17, targeted 20 residential and office locations associated with the group and its promoters. The raids are part of a broader inquiry into a fraud case involving over ₹131 crore defrauded from the public.
The investigation was initiated based on a criminal complaint filed by the Serious Fraud Investigation Office (SFIO) on August 1, 2025. This complaint implicated several companies, including Amrit Projects Limited, Amrit Bio-Energy and Industries Limited, and others, under various sections of the Companies Act, 2013, and the Prevention of Money Laundering Act (PMLA).
Evidence gathered during the ED’s investigation revealed that key individuals, including Kailash Chand Dujari and Kali Kishore Bagchi, raised approximately ₹131.86 crore from the public through fixed deposits, recurring deposits, and income schemes, falsely promising guaranteed returns. The funds were misrepresented as investments in redeemable preference shares and deep discount bonds. By the fiscal year 2019-20, about ₹71.04 crore had not been returned to depositors.
Further scrutiny indicated that the directors diverted these public funds to shell companies, using them to purchase real estate under fictitious names controlled by the promoters, thus facilitating cash withdrawals.
During the raids, the ED seized and froze assets exceeding ₹2.75 crore, including ₹1 crore in cash, $4,800 in foreign currency, bank balances, and various investment documents. These records pertained to investments in hotels, schools, residential properties, and land, including over ₹20 crore in undisclosed investments.
Additionally, the agency confiscated several incriminating documents, digital devices, and records of hawala transactions. The ED stated that these materials would help uncover the methods used to conceal profits from criminal activities. The investigation is ongoing.
Leave a Comment