Bhubaneswar: The Enforcement Directorate (ED) has attached properties worth Rs 250 crore of Rose Valley Group of Companies which had cheated thousands of investors in Odisha in a muti-crore chit fund scam.
The Directorate in a tweet on Saturday said, “ED has attached movable and immovable properties having a present market value of Rs 250 crore in an ongoing investigation against Rose Valley Group of Companies and its promoters under the PMLA, 2002.”
With the day’s attachment, the enforcing authorities have attached Rose Valley’s properties amounting to Rs 1171.71 crore till date, it added.
Earlier, the OPID court in Cuttack had approved attachment of the chit fund company’s properties worth Rs 6.52 crore by Economic Offences Wing.
It may be noted that the EOW had registered a case under Prize Chits and Money Circulation Scheme (Banning) Act, 1978 against Rose Valley group and its directors by taking over a case registered at Soro police station in Balasore district.
The complaint had alleged that the Rose Valley Hotels and Entertainment was into unauthorised collection of public money by promising high rate of interest.
During investigation, the EOW filed 5 chargesheets against Rose Valley Group and its directors Goutam Kundu and Sibamoya Dutta and regional/branch managers Bikramjit Bhoumik and Badal Kumar Kar.
So far, 2,38,477 small depositors of Odisha, who had invested in the Rose Valley Group, have got refunds of around Rs 60.22 crore.
