Rs 1,100-crore ‘shell company scam’: Who is Joy Kamdar, the Kolkata businessman arrested by ED?
Indian Express·2h ago·Neutral
What Happened
The Enforcement Directorate arrested Kolkata businessman Joy S Kamdar Sunday for allegedly facilitating illegal transactions worth Rs 1,100 crore through shell companies. Kamdar, managing director of Sun Enterprise, is accused of operating a land-grabbing and money-laundering racket with associate Biswajit Poddar. ED seized digital devices revealing Rs 40 crore diverted from an education society and over Rs 500 crore in suspicious cash deposits.
Key Entities
Enforcement Directorate (ED)Joy S KamdarKolkataBiswajit Poddar (Sona Pappu)Sun EnterpriseSupreme Credit Corporation LtdRs 1,100 croreShell companiesLand-grabbingMoney-laundering