Kolkata. In a sweeping move related to a money‑laundering case, the Enforcement Directorate (ED) carried out coordinated raids on Wednesday at roughly 17 locations associated with Amrit Group’s businesses and its promoters in Kolkata and Indore, Madhya Pradesh. The operation is linked to accusations of a large‑scale investment fraud.

Legal basis of the action

The ED invoked the Prevention of Money Laundering Act (PMLA) to search premises in both cities, aiming to uncover evidence of illicit financial flows. Officials say the probe stems from complaints that a substantial number of investors were cheated.

Alleged scheme

Funds gathered on the promise of lofty returns

According to the investigating agency, several Amrit Group entities and their directors solicited public deposits through assorted schemes, assuring participants of unusually high yields. The promised profits, however, allegedly never materialised, leaving investors at a loss.

Current status of the investigation

The raids form part of a broader effort to trace the alleged financial irregularities and any associated money‑laundering activity. While the ED has not disclosed the specifics of documents or assets seized, the operation underscores the seriousness of the case.

As of now, neither Amrit Group nor its promoters have responded publicly to the ED’s actions.