This Article is From Oct 06, 2021

Enforcement Directorate Attaches Rs 26.98 Crore Assets In Rose Valley Case

The Rose Valley group "had collected a huge amount of money from the gullible public by floating various fake and fictitious schemes and defaulted the re-payments", the agency said.

Advertisement
India News

Enforcement Directorate has so far attached assets worth Rs 1,074 crore in the case

New Delhi:

The Enforcement Directorate (ED) today said it has attached assets worth Rs 26.98 crore in connection with the multi-crore Rose Valley money-laundering case.

"The attached assets are in the form of land, hotels, bank balances, and demand drafts attributed to the Rose Valley Group of companies," the agency said in a statement.

The Rose Valley group of companies "had collected a huge amount of money from the gullible public by floating various fake and fictitious schemes and defaulted the re-payments", it said.

The ED probe had found that several properties in West Bengal, Odisha, Tripura, Assam, Maharashtra, Jharkhand and other states were "acquired in the name of various companies of the group, by illegally diverting the funds collected from the common public", the agency had earlier said.

It has so far attached assets worth Rs 1,074 crore in the case.

Advertisement

The ED filed the money-laundering case against the firm, its Chairman Gautam Kundu and others in 2014. It subsequently arrested Kundu in Kolkata.

Advertisement