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ED seizes Rose Valley's properties worth Rs. 1256 crore

ED seizes Rose Valley's properties worth Rs. 1256 crore

| | 22 Dec 2016, 10:45 pm
Kolkata/New Delhi, Dec 22 (IBNS): The Enforcement Directorate (ED) on Thursday attached Rs. 1256 crore worth assets of ponzi firm- Rose Valley Group of Companies- at several locations in Kolkata, Ranchi, Goa, Chhattisgarh, Silchar, Jaipur, Port Blair and Haridwar, officials said.

According to reports, few lands, resorts, hotels, apartments and at least eight imported cars, including a Rolls-Royce, were seized from several locations in India.

"Though the attached properties are worth 465 crore, but the present market value of the seized assets are 1256 crore rupees," an ED official told IBNS.

Earlier the ED freezed at least 2631 bank accounts, having a total amount of nearly 295 crore rupees, of the chit fund group.

Chairman of Rose Valley Group of Companies, Gautam Kundu, was arrested by the ED on Mar 25 last year and he is in judicial custody.

(Reporting by Deepayan Sinha)

 

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