ED takes possession of ₹304-crore assets of Rose Valley Group
The Hindu
The group floated various schemes to collect huge amounts of money from small-time investors on false promises of phenomenal returns, according to the agency.
The Enforcement Directorate (ED) has taken possession of assets worth ₹304 crore of in connection with . According to the agency, the group floated various schemes to collect huge amounts of money from small-time investors on false promises of phenomenal returns. However, it defaulted on re-payments. The ED identified several properties in West Bengal, Odisha, Tripura, Assam, Maharashtra, Jharkhand and others States that were acquired in the name of various Rose Valley Group companies, by illegally diverting the collected funds. Following the procedures under the Prevention of Money Laundering Act (PMLA), the agency attached the properties.More Related News
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