By PTI
NEW DELHI: Assets worth around Rs 150 crore have been attached under the anti-money laundering law as part of an ongoing investigation against the Rose Valley Group, the Enforcement Directorate said on Wednesday.
A provisional order for attachment of assets has been issued under the Prevention of Money Laundering Act (PMLA) and as many as 139 immovable properties consisting of land, flats, commercial and office space, shops etc. registered in the name of various companies of Rose Valley Group and its directors in Tripura, West Bengal, Andaman and Nicobar Islands, have been frozen, the agency said in a statement.
The money laundering case stems from a CBI FIR and charge sheets.
Probe found, the ED said, that funds were collected by selling “fake and fabricated” schemes through a chain of agents located in Assam, West Bengal, Tripura, Odisha, Jharkhand and several other states.
“In Assam, schemes were sold in the name of Rose Valley Real Estate and Construction Ltd. (RVRECL) and its associates groups and the funds collected by selling fake schemes were routed and transferred to the corporate office of Rose Valley Group in Kolkata,” it said.
The funds were later transferred from the corporate office to the accounts of various companies in the guise of loans and advances, it said.
The agency said an amount of about Rs 718 crore remains “unpaid” to the Assam-based investors.
The ED investigation against the Rose Valley Group and its chairman Gautam Kundu dates back to 2014 and the agency has also filed multiple charge sheets before the courts.
NEW DELHI: Assets worth around Rs 150 crore have been attached under the anti-money laundering law as part of an ongoing investigation against the Rose Valley Group, the Enforcement Directorate said on Wednesday.
A provisional order for attachment of assets has been issued under the Prevention of Money Laundering Act (PMLA) and as many as 139 immovable properties consisting of land, flats, commercial and office space, shops etc. registered in the name of various companies of Rose Valley Group and its directors in Tripura, West Bengal, Andaman and Nicobar Islands, have been frozen, the agency said in a statement.
The money laundering case stems from a CBI FIR and charge sheets.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });
Probe found, the ED said, that funds were collected by selling “fake and fabricated” schemes through a chain of agents located in Assam, West Bengal, Tripura, Odisha, Jharkhand and several other states.
“In Assam, schemes were sold in the name of Rose Valley Real Estate and Construction Ltd. (RVRECL) and its associates groups and the funds collected by selling fake schemes were routed and transferred to the corporate office of Rose Valley Group in Kolkata,” it said.
The funds were later transferred from the corporate office to the accounts of various companies in the guise of loans and advances, it said.
The agency said an amount of about Rs 718 crore remains “unpaid” to the Assam-based investors.
The ED investigation against the Rose Valley Group and its chairman Gautam Kundu dates back to 2014 and the agency has also filed multiple charge sheets before the courts.
