Kolkata, September 18, 2026 (Yes Punjab News)
The Enforcement Directorate (ED) has arrested Amit Ganguly, Director of Ganguly Home Search Pvt Ltd, in connection with a money laundering investigation involving the alleged fraudulent acquisition and transfer of immovable properties.
According to an ED statement, Ganguly was arrested on September 15 under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002. He was subsequently produced before a special PMLA court, which remanded him to ED custody for four days.
The investigation stems from multiple FIRs registered by the West Bengal Police in connection with scheduled offences under the PMLA. The ED alleged that Ganguly, in connivance with associates and through various entities, was involved in cheating, forgery and other fraudulent activities to unlawfully acquire and transfer valuable immovable properties belonging to individuals and entities.
The agency said its investigation uncovered the alleged use of forged and fabricated sale deeds, agreements, powers of attorney, deeds of gift, Board resolutions and other documents to create false claims over properties. Land and municipal records were also allegedly manipulated to interfere with the possession and ownership rights of the actual owners.
According to the ED, Ganguly obtained development rights over properties by entering into joint ventures with landowners but allegedly failed to honour their lawful entitlements. Instead, he allegedly used fabricated documents to assert control over the properties.
The agency said the property rights and assets generated through the alleged activities constitute “proceeds of crime” under the PMLA. The proceeds of crime identified during the investigation include valuable immovable properties and associated property rights.
The ED further claimed that Ganguly is named in around 23 FIRs and allegedly duped multiple investors and landowners through the same modus operandi.
Earlier, the agency had conducted searches on March 28, 2026, at premises linked to Ganguly. During the searches, ED officials seized allegedly incriminating documents, digital devices and other records.
The agency said examination of the seized material also indicated Ganguly’s alleged influence with local authorities in matters concerning real estate projects and immovable properties.
Further investigation is underway.
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