 "Enforcement Directorate, ED")
The Enforcement Directorate on Thursday said it has seized Rs 1.4 crore in cash from the premise of a Kolkata-based company and has identified a person who was "handling illegal cash of a minister" allegedly generated from coal smuggling.
The federal probe agency issued a statement saying it raided the premises of the Gajraj Group at Earle Street in West Bengal's capital Kolkata on Wednesday.
The action, the ED said, was undertaken on the basis of a "specific" intelligence input that a "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 alias Jitti Bhai.
The seized cash of Rs 1.4 crore was "unaccounted", part of the total cash payment of approximately Rs 9 crore, for a property called Salasar guest house at an "under-valued" price, it said.
"The market value of this property is more than Rs 12 crore. However, deed value of the same is 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 said.
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It said the registry of the same property was done on February 8 at an under-valued price at the office of additional sub-registrar, Alipore and "cash was being exchanged" at the office of Vikram Sakaria of Gajraj Group around 5 pm on Wednesday.
The ED said it laid a "trap" and searched the said premise and recovered Rs 1.4 crore.
"Preliminary analysis of material on record suggests a greater nexus and it appears that this person was also involved in handling of illegal cash of a minister," the agency alleged.
It said some "incriminating media" was also seized from the premise.
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