Tag: kolkata

Kolkata ED Investigation: Sabyasachi Dutta’s Illegal Activities

ED, Kolkata Zonal Office has conducted a search operation at 15 premises on 31.07.2026 in and around Kolkata (including one premises in Gurugram) in ECIR/KLZO-II/19/2026 in the case of Sabyasachi Dutta & Others based on the charges of extortion against him. During searches proceedings, various incriminating documents (including ledgers, digital devices etc.) related to utilization of Proceeds of Crime generated from extortion and other illegal activities in the form of various investments in movable and immovable properties done by Sabyasachi Dutta and his associates via routing of funds through a network of shell were seized. During the search proceedings, approximately 150 bank/ demat accounts having a balance of minimum of Rs. 13.9 Crore (as on 09.08.2026) related to Sabyasachi Dutta and his associates were frozen, cash worth Rs. 40.50 Lakh and foreign currency worth USD 17,200/- were also seized. Further investigation is under progress.

ED conducts search operation in the case of Sabyasachi Dutta & Others

Directorate of Enforcement (ED) Kolkata Zonal Office has conducted a search operations at 15 premises on 31.07.2026 in and around Kolkata (including one premises in Gurugram) in the case of Sabyasachi Dutta & others based on the charges of extortion against him. The premises covered during search action included residence of Sabysachi Dutta, Ex-MLA, TMC; office premises of entities associated with him; office and residential premises of the persons associated with him and his companies.

During the course of search proceedings, various incriminating documents (including ledgers, digital devices etc.) related to utilization of Proceeds of Crime generated from extortion and other illegal activities in the form of various investments in movable and immovable properties done by Sabyasachi Dutta and his associates via routing of funds through a network of shell entities including Precision Buildcom Pvt Ltd, Softline Media Network Pvt Ltd and Avam Realty Private Limited were seized. During the search proceedings, approximately 150 bank/ demat accounts having a balance of minimum of Rs. 13.9 Crore (as on 09.08.2026) related to Sabyasachi Dutta and his associates were frozen, cash worth Rs. 40.50 Lakh and foreign currency worth USD 17,200/- were also seized.

ED initiated an investigation under PMLA, 2002 in the case of Sabyasachi Dutta & others by recording an ECIR dated 23.06.2026 based on an FIR registered by Bidhannagar Police Station (North) alleging that Sabyasachi Dutta, Ex-Mayor, Bidhannagar Municipal Corporation and his associates ran an extortion racket by misusing his political influence. Through intimidation, assault, and criminal conspiracy, the group extorted funds from local businessmen, converting a portion of these proceeds into assets like gold, FDs, Mutual Funds, immovable properties etc

Further investigation is under progress.

87 Proposals Received under BHAVYA Scheme during First Round of Phase-I

Kolkata: 87 proposals are received from various State and UT governments under the Bharat Audyogik Vikas Yojana (BHAVYA) Scheme, in round 1 of Phase-I, which was open for receiving applications till 31st July 2026. The state-wise break-up of proposals received is placed at Annexure-I. No proposal has been received from the State of West Bengal in the first round.

Applications received would be taken up for evaluation and scoring in accordance with the prescribed eligibility and evaluation criteria as per the Scheme guidelines. The selection of projects is based on Challenge mode with evaluation on parameters such as connectivity and site suitability, quality of core, value-added and social infrastructure in DPR, industrial ecosystem and policy enablers. The criteria is detailed at Annexure I of the Scheme guidelines that are available at http://www.dpiit.gov.in. The guidelines provide that the selection process for first phase will be completed within one year from the date of notification of the Scheme.

This information was given by Minister of State for Ministry of Commerce and Industry, Shri Jitin Prasada in a written reply in Rajya Sabha today.

ANNEXURE- I

The state-wise break-up of proposals received in first round, is as under: –

S. No.State/UTNo. of proposals
1.Andhra Pradesh6
2.Assam2
3.Bihar2
4.Chhattisgarh4
5.Gujarat6
6.Haryana1
7.Himachal Pradesh2
8.Jammu & Kashmir2
9.Karnataka3
10.Kerala1
11.Ladakh1
12.Madhya Pradesh11
13.Maharashtra14
14.Manipur1
15.Meghalaya1
16.Mizoram1
17.Odisha2
18.Punjab2
19.Rajasthan4
20.Tamil Nadu7
21.Telangana4
22.Tripura2
23.Uttar Pradesh7
24.Uttarakhand1
 Total87

ED Issues Provisional Attachment Order Multy Crore Values include 37 horses Against Kunal Gupta Linked to International Cyber Fraud Network

Directorate of Enforcement (ED), Kolkata Zonal Office has issued a Provisional Attachment Order under Prevention of Money Laundering Act, 2002 (PMLA) on 03/12/2024 in respect of properties valued at Rs. 5.23 Crore linked to Kunal Gupta, owner of M/s Met Technologies Pvt Ltd and his associate, Pawan Jaiswal, who ran a international cyber fraud network. The attached properties include 37 horses belonging to KG Stud Farm LLP, valued at Rs. 398.5 Lakh, and flats in Greenleaf Complex in Baguiati, Kolkata, valued at Rs. 1.08 Crore.

ED initiated investigation on the basis of FIR registered by Cyber Crime Police Station, Bidhannagar under various sections IPC, 1860 against M/s Met Technologies Pvt Ltd and its Directors for cheating, forgery, and criminal conspiracy.

ED investigations revealed a nexus of fraudulent call centers controlled by Kunal Gupta, targeting victims in the USA, UK, and Australia. These centers defrauded individuals through false tech support, fake loans via counterfeit apps, and fraudulent business transactions. The Proceeds of Crime (POC) were layered and laundered through various companies, including KG Stud Farm LLP and GD Infotech, concealing their illicit origins.

ED investigation further revealed that KG Stud Farm LLP was used as a vehicle to launder funds, with POC being utilized for the purchase, maintenance, and training of horses. Race winnings generated from these horses, themselves linked to criminal proceeds, were reinvested, perpetuating a cycle of laundering. The attached 37 horses are stationed across race clubs and riding schools in India.

Pawan Jaiswal, a key associate of Kunal Gupta, was found to have utilized POC through GD Infotech to acquire properties in Greenleaf Complex. The investigation uncovered unexplained cash deposits and financial transactions linked to the acquisition, consolidating three flats into a single property valued at Rs. 1.08 Crore. These transactions were found to lack legitimate sources of income, directly tying the property to the POC.

Earlier, ED had issued Provisional Attachment Orders for properties worth Rs. 67.23 Crore on 07/11/2023 and Rs. 85 Lakh on 10/07/2024, belonging to Kunal Gupta, M/s Met Technologies Pvt Ltd, and their associates. Searches conducted at residential and commercial premises of Kunal Gupta and Pawan Jaiswal yielded incriminating documents, digital evidence, and cash.

This Provisional Attachment Order ensures the prevention of dissipation of POC and preserves assets for future confiscation under the provisions of PMLA, 2002.

Further investigation is under progress.

Calcutta University Fined ₹73 Crore by Income Tax Department for Failing to File Income-Tax Returns

The vice-chancellor of Calcutta University, Santa Datta, revealed on Wednesday that the income tax department has imposed a fine of ₹73 crore on the university for failing to file returns for the financial years 2020-21 and 2021-22. Datta, who took on the role of interim VC in June 2023, stated that the university plans to contest the hefty fine. A committee has been established to investigate the reasons behind the failure to file the tax returns.

Educational institutions are mandated to submit income tax returns annually, as per a provision implemented in 2015. Following a notice from the income tax department, the university intends to seek a stay on the order and is consulting with tax experts. Calcutta University has already filed its tax return for the 2022-23 financial year and is in the process of filing the return for 2023-24.

Furthermore, the finance officer of a state-aided university highlighted that in the returns, educational institutions are required to disclose details of grants received and their allocated expenditures. Failure to furnish the return by the due date may result in penalties as stipulated under different sections of the Income Tax Act, including a monthly interest on the outstanding tax amount and a fixed penalty. Additionally, if there is underreporting or misreporting of income, penalties may be imposed as determined by a specified formula under the act.