PMLA case: ED raids Lodha's premises in Kolkata, Delhi

The ED today conducted searches at the premises of arrested Kolkata-based businessman Paras Mal Lodha here and in Delhi in connection with a money laundering case probe in two high-profile black money cases of illegal conversion of old notes in the wake of demonetisation.

Officials said the agency began the searches late in the afternoon and covered two of his premises here at S N Roy road and Queens Park here even as one location in Delhi was brought under the same operation.

Lodha (62), at present, is in the Enforcement Directorate's custody after he was arrested by the agency last week in Delhi.
 

He was arrested by the agency in "connection with the recovery of large amount in new currency notes from a company belonging to Advocate Rohit Tandon of T and T law firm (in Delhi) and J Shekhar Reddy of Chennai".

While Tandon's case pertains to an operation of Delhi Police and the Income Tax department earlier this month when the agencies had allegedly seized Rs 13.6 crore from a law firm he is associated with, that of mining baron Reddy relates to Chennai where the I-T department has made the biggest detection of alleged unaccounted income of over Rs 142 crore.

Both the cases pertain to the ED's anti-black money operations post the currency ban.

These two cases, involving Tandon and Reddy, are being probed by at least four agencies -- the ED, the I-T department, the CBI and Delhi Police.