Enforcement Directorate, whose raid at a Ballygunge real estate office owned by Gajaraj Group Wednesday unearthed cash haul of over Rs 1.40cr following a 1-hr long search, today claimed that the cash recovered so far was a “miniscule amount” of a larger conspiracy to launder money allegedly by an influential politician got through coal pilferage and illegal mining scam by using in property deeds.

The central probe agency today in a release claimed that it was on the trail of another installment of Rs 7.50cr that was still to be uncovered as fresh leads emerged, claimed the agency.

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Meanwhile, the owner of the real estate group Gajaraj, Vikram Sikaria along with one of his aides had been summoned to Delhi for interrogation this week in connection with the cash haul to get information regarding the alleged source of the unaccounted cash.

ED today in a statement claimed that the cash of worth Rs 1.40cr, which was recovered yesterday, investigations revealed was “unaccounted cash” allegedly as part of proceeds of crime from illegal mining and coal pilferage.

The highly influential politician, who was trying to launder that ill-gotten money through a businessman identified as Manjit Singh Grewal, who, the agency claimed had been entrusted with the task to accomplish it through a property deed.

From initial investigations, the ED has found out that the Sikaria’s businesses’ especially those related to real estate earned maximum profit during the Covid-19 pandemic and lockdown period, when the real estate sector was in a real difficult shape. In this connection, the ED sleuths are also looking for one of Sikaria’s close associates Manjit Singh Jitta, who is currently absconding.

Sources said that it came from the examination of different documents and statements given by different witnesses in connection with the coal smuggling case.

It is learnt that recently a person, named Ratnesh Burma, a close associate of the prime accused in the coal scam, Binay Mishra, surrendered at a special CBI court in Asansol. Burma was reportedly involved in managing the accounts of the coal smuggling proceeds. During the course of interrogation, he gave crucial clues to the investigating officials.