The Enforcement Directorate has arrested Kolkata-based businessman Joy S Kamdar in connection with an alleged ₹1,100-crore shell company scam involving money laundering and land-grabbing operations. The arrest marks a significant development in an ongoing probe into suspected financial irregularities linked to multiple entities operating under the guise of legitimate businesses.

According to officials, Kamdar, who serves as the managing director of Sun Enterprise, is accused of facilitating large-scale illegal financial transactions through a network of shell companies. Investigators claim that these entities were used to route funds and mask the origin of money, enabling unlawful diversion of substantial sums across various channels without immediate detection.

The agency has also alleged that Kamdar maintained close links with Biswajit Poddar, also known as Sona Pappu, a history-sheeter accused of running an extortion and land-grabbing racket. Officials believe that Pappu operated under the cover of real estate ventures, using intimidation and influence to acquire land and generate illicit proceeds, which were then routed through associated companies.

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As part of the investigation, authorities have pointed to Kamdar’s role as a director in Supreme Credit Corporation Ltd, which allegedly transferred around ₹1.5 crore to SP Construction, a firm reportedly linked to Pappu. Another entity, Heaven Valley, owned by Pappu’s wife Soma Sonar Podder, is also under scrutiny for engaging in transactions that investigators consider suspicious and potentially part of the broader laundering network.

Sources within the agency stated that digital evidence, including chat records and financial data, has revealed what they describe as a “strong nexus” between Kamdar and Pappu. These materials are believed to indicate coordinated efforts to divert funds, including money allegedly siphoned from educational societies into a complex web of illegal transactions.

Officials confirmed that further investigation is underway to trace the full extent of the financial trail and identify additional individuals or entities involved in the case. The Enforcement Directorate is expected to continue examining documents, bank records, and digital communications to build a comprehensive case, as the alleged scam highlights growing concerns over the misuse of shell companies in large-scale financial crimes.

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