Merlin Group ‘land scam’ probe: ED planning more raids in Kolkata to dig out money trail and expose beneficiaries
The Statesman | 18 April 2026
The Enforcement Directorate (ED) today signalled a major escalation in its probe into the alleged multi-crore Merlin Group land scam, with officials confirming that more searches are imminent if ongoing raids fail to fully expose the money trail and those who benefited from it.
An ED official in Kolkata said the agency is not ruling out a wider crackdown in the coming days. “If we are not satisfied with the outcome of today’s searches, we will be conducting more searches to trace the full money trail and identify both direct and indirect beneficiaries,” the official said.
Probe agency intensifies probe
Earlier on Friday, the ED carried out coordinated searches at multiple locations linked to the Merlin Group across Kolkata. The operations, conducted under the Prevention of Money Laundering Act, targeted key offices and residential premises associated with the real estate firm.
The raids were backed by a heavy deployment of Central Armed Police Force (CRPF) personnel, underlining the scale and sensitivity of the investigation.
Simultaneously, the Income Tax Department launched parallel searches at related premises, pointing to a multi-agency crackdown on the real estate network.
Key locations and individuals under scanner
Investigators searched premises linked to Sushil Kumar Dhandhania and Vijay Kumar Dhandhania at Middleton Street, as well as properties connected to DC Paul Group Construction Private Limited in Salt Lake.
Residences of company officials, including director Kamlini Paul and former director Shanti Ranjan Paul, were also covered as part of the investigation. Officials believe these locations may hold crucial evidence tied to financial transactions and ownership patterns.
At the core of the probe are serious allegations that the company’s promoters used forged and fabricated documents to illegally acquire multiple land parcels, including public land. These properties were then allegedly monetised through large-scale real estate projects, generating substantial proceeds suspected to be laundered through layered financial transactions. Earlier searches had already pointed to a pattern of questionable land acquisitions and possible investor fraud, with funds routed through project developments.
The agency’s next steps will hinge on what emerges from the latest raids, but the message from investigators is clear: the probe is expanding, and more names could surface as the money trail is chased down.