Rose Valley Scam

Capital markets regulator Sebi on Wednesday said it will auction 27 properties of Rose Valley group of companies on November 25 at a reserve price of Rs 63.26 crore in a bid to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include flats, buildings, land parcels and hotels located in West Bengal and Bihar, the Securities and Exchange Board of India (Sebi) said in a notice. The e-auction will be conducted on November 25 between 11 am to 1 pm. The total reserve price of these properties is pegged at Rs 63.26 crore, it added. The markets regulator said it has engaged Quikr Realty to assist it in sale of the properties of Rose Valley while C1 India has been appointed as the e-auction service provider. A committee would oversee sale of the assets and the money will be utilised for repaying the investors. The committee was formed following an order passed by Calcutta High Court in May 2015. Going by the notice, bidders may

Rose Valley Group had amassed substantial deposits from the public under false/fraudulent promises of high returns

Markets regulator Sebi on Monday said it will auction 22 properties of Rose Valley Group of companies on May 20 at a reserve price totalling Rs 8.6 crore in a bid to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include flats and office spaces located in West Bengal, the Securities and Exchange Board of India (Sebi) said in a notice. The e-auction will be conducted on May 20 between 11 am and 1 pm. The total reserve price of these properties is pegged at Rs 8.6 crore, it added. The markets regulator said it has engaged Quikr Realty to assist it in the sale of the properties. A committee would oversee sale of the assets and the money will be utilized for repaying the investors. The committee was formed following an order passed by Calcutta High Court in May 2015. Going by the notice, the bidders should make their own independent enquiries regarding the encumbrances, litigations, attachments and acquisition of liabili

The total value of assets attached in the 2014 money laundering case linked with the Rose Valley Group has risen to more than Rs 1,171 crore with the Enforcement Directorate Friday saying it has seized properties worth Rs 54 crore in the case. The attached properties comprise insurance policies in the name of Rose Valley Group chairman Gautam Kundu and his wife, buildings and plots of land in West Bengal, Maharashtra, Madhya Pradesh and Bihar, which were found to have been acquired by the companies of the group from the funds collected from the gullible investors, the probe agency said. Gautam Kundu, who was arrested by the ED in March 2015, continues to be in judicial custody. "The Rose Valley Group collected funds from the common gullible public by floating fake and fictitious schemes and defaulted on the re-payments," the agency said. The total value of assets attached in this case to date is Rs 1,171.71 crore, including fresh properties worth Rs 54 crore seized provisionally un

Markets regulator Sebi on Wednesday ordered attachment of bank accounts as well as share and mutual fund holdings of Rose Valley and its then directors to recover investors' dues

This recovery proceeding has been initiated against them to recover Rs 1,006.70 crore collected by the company through the issuance of non-convertible debentures (NCDs) to investors

The Enforcement Directorate on Friday said it has taken "possession" of assets worth Rs 304 crore in connection with its money laundering case in the alleged Rose Valley ponzi scam

The IPL franchise says apart from accepting Rs 11.87 cr from Rose Valley Hotels as sponsorship fees, it had no other dealings with the group

Multiple charge sheets have been filed in the courts in Kolkata and Bhubaneswar by the ED in this case

Shubhra Kundu, who had evaded ED summons for the last three consecutive times, appeared before the investigation agency officials and was quizzed for more than three hours

The chit fund is estimated to have raised Rs 15,000 crore from investors

Mohta was detained and taken to the CBI's office in Salt Lake as the agency allegedly found discrepancies in his answers

Mohta allegedly duped the Rose Valley of Rs 25 crore, CBI sources said

The SEBI had probed the company before the ED and the CBI registered cases against the group

The saffron party adds, BJP leaders are being arrested and harassed by implicating them in false cases