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Rose Valley chairman hospitalised

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IANS Kolkata
Last Updated : Dec 05 2015 | 9:42 PM IST

Rose Valley Group chairman Gautam Kundu, now under arrest in connection with the multi-crore rupee chit fund scam, was admitted to the jail hospital on Saturday due to health issues.

Kundu, currently in judicial custody at the Presidency Correctional Home here, has several health issues, said a jail official.

The Enforcement Directorate, which arrested Kundu in March under provisions of the Prevention of Money Laundering Act, has already filed a charge sheet against him and five other Rose Valley officials. The ED probe followed a complaint from market regulator, the Securities and Exchange Board of India.

Kundu sustained minor injuries on November 30 when he banged his head repeatedly on the grills of the lock up in protest against "non-cooperation" of the central investigation agencies Central Bureau of Investigation and ED in returning money to the depositors from funds which can be obtained by auctioning off his seized properties.

He then also threatened to commit suicide.

Kundu was arrested on March 25 by the ED after he failed to give proper answers during sustained questioning spread over several hours on being summoned to its office.

The ongoing investigation on the Kolkata-based ponzi firm has revealed that it had garnered more than Rs.15,000 crore from public through issue of various financial instruments which did not have sanction of the capital market regulator.

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First Published: Dec 05 2015 | 9:24 PM IST

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