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The Directorate of Enforcement (ED) on Saturday said it seized Rs 1.4 crore in cash from an office of the Gajraj Group in Kolkata in a raid, connected to an ongoing case of coal smuggling.According to a statement, the agency laid a trap and conducted a search on February 8 at the group's office situated at Earle Street in the city. Other incriminating evidence was also seized from the office, the ED said.The agency said that a specific intelligence input was gathered that a highly influential political person was making an attempt to launder the proceeds of crime, originating from coal smuggling through his close confidante Manjit Singh Grewal, also known as Jitti Bhai.The agency said this money was unaccounted cash part of the total cash payment of approximately Rs 9 crore for a property called Salasar Guest House at an undervalued price. The market value of this property is more than Rs 12 crore, however, ED said that the deed value of the same is shown to be around Rs 3 crore. The agency also said that this money was part of the agreed differential amount to be paid in cash from the proceeds generated from coal smuggling.On February 8, the probe agency said a registry of the property was done at an undervalued price at the office of an additional subregistrar in Alipore and cash was being exchanged at the office of Vikram Sakaria which owns the Gajraj Group.At the same time, ED searched the said premise and recovered Rs 1.4 crore from the place. Further investigations were being carried out at the moment, the agency added.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Business :Coal smuggling case: ED seizes Rs 1.4-crore after raid in Kolkata

The Directorate of Enforcement (ED) on Saturday said it seized Rs 1.4 crore in cash from an office of ... ...