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By A Newsman

Kolkata, 27 December: ENFORCEMENT Directorate (ED) officers today conducted raids at tycoon Parasmal Lodha’s residence and office in Kolkata.

Lodha, who owns stake in Peersless Group and also deals in real-estate and mining, was arrested by the ED on 22 December from Mumbai airport while he was allegedly fleeing to Malaysia. This after ED got a whiff that he had deposited as much as Rs 25-crore demonetised notes that were unaccounted for.

A special team of the ED flew down from New Delhi today and straightway went to Lodha’s office at SN Roy Road in Behala. After conducting a search there for near three hours, the team went to Lodha’s residence at Queens Park at Ballygunge.

The ED officers searched the palatial residence for several hours until evening and also questioned the caretaker, drivers, and other staff who work there. ED suspects that the demonetised notes that Lodha deposited did not entirely belong to whom and rather a substantial part of it belonged to some powerful individuals of Bengal, including politicians.

The agency is now looking for documentary evidence to track down such individuals who had used Lodha in getting their unaccounted money deposited to bank accounts.