The Enforcement Directorate (ED) arrested Kolkata-based businessman Joy S Kamdar Sunday in connection with a land-grabbing and money-laundering case. Kamdar, the managing director of Sun Enterprise, is accused of facilitating illegal transactions worth approximately Rs 1,100 crore through a web of shell companies.
According to ED sources, Kamdar is a key associate of Biswajit Poddar, alias Sona Pappu, a history-sheeter with reported ties to influential political figures. Investigators alleged a strong nexus between the two, claiming that Pappu operated an extortion and land-grabbing racket under the guise of real estate promotion.
Kamdar serves as a director for Supreme Credit Corporation Ltd, which allegedly funnelled Rs 1.5 crore to Pappu’s firm SP Construction. Owned by Pappu’s wife, Soma Sonar Podder, a firm called Heaven Valley also allegedly engaged in suspicious transactions with Kamdar’s company.
During questioning, Soma Podder allegedly claimed she was unaware of the business operations, stating her husband managed all financial matters in her name.
The agency seized several digital devices from Kamdar, uncovering incriminating chats and financial records. These documents suggest that at least Rs 40 crore was diverted from the Calcutta Gujarati Education Society to shell entities, including one named Chicas Enterprise.
Investigators found evidence of over Rs 500 crore in cash deposits made within a single four-month window as part of a larger Rs 1,100 crore transaction cycle.
Following his arrest, the agency was unable to produce Kamdar in court after he complained of chest pain. A medical examiner declined to issue a “fit for production” certificate, and Kamdar is currently admitted to the RG Kar Medical College and Hospital.
The agency has moved for judicial custody. It intends to confront Kamdar with electronic evidence seized during raids on April 1, interrogate him to identify the ultimate beneficiaries of the crime, and establish the money trail to prevent evidence tampering.
A special court on Monday granted the ED custody of Joy S Kamdar till April 28. This was after the hospital stated that Kamdar was fit to be produced in court.
While Kamdar’s counsel prayed for bail stating that Kamdar will cooperate with the investigation . His counsel further submitted that the transactions cannot be called illegal until the money is illegal.
Meanwhile, the public prosecutor stated that cash had been recovered from the house and they had also found a book in which there are certain names and the cash transactions which require to be investigated. The ED further stated that they have chat details of financial transactions in the UK, Malaysia, Dubai and in the book there is a mention of Shantanu sir which also require to be investigated. The ED further stated that Kamdar had not cooperated with the investigation and had not replied to the two summons.
The arrest follows a series of raids across six locations in Kolkata, including Pappu’s residence in Ballygunge and the home of associate Rahul Das on Kakulia Road.
The investigation targets a “housing scam” in which disputed land was allegedly seized by force or by forgery and sold at premium prices. Prior to his arrest, Kamdar had ignored two ED summonses. During an earlier raid on his residence, officials recovered Rs 1.2 crore in unaccounted cash.
While Sona Pappu remains absconding, his alleged involvement in illegal construction and extortion, fuelled by information from within the administration, remains the central focus of the probe.