MLM / Chain Money
ED attaches Rs1,250 crore assets of Rose Valley
The Enforcement Directorate on Thursday attached assets worth Rs 1,250 crore of the Rose Valley Group including eight hotels and 12 high-end cars in connection with a chit fund scam, an official said.
 
"In this money laundering case, the agency issued the fourth attachment order during the day. We have attached eight hotels and 12 high-value cars including a Rolls Royce luxury car. The market value of attached assets is around Rs 1, 250 crore," said an Enforcement Directorate official.
 
However, the deed value of the attached assets would be around Rs 460 crore, he said.
 
Of the eight seized hotels, two are in Kolkata while the others are in Haridwar, Ranchi, Goa, Silchar, Port Blair and West Bengal's Tarapith.
 
Thousands of people were allegedly cheated in West Bengal and Odisha in the multi billion rupee chit fund scam.
 
Under the provisions of the Prevention of Money Laundering Act (PMLA), the agency had registered an FIR against the company and its Chairman Gautam Kundu in 2014.
 
Kundu was last year arrested by the agency.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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SEBI advises PACL investors to file claim only on notification by its Committee
A Committee has been constituted by SEBI (Securities and Exchange Board of India) under the Chairmanship of Justice (Retd.) R. M. Lodha, former Chief Justice of India, for disposing of the properties of PACL Ltd., so that the sale proceeds can be paid to customers. 
 
The investors were informed that the process of auction is under way in terms of a notice dated 27 November 2016.
 
According to SEBI, the process of refund would be initiated upon realisation of sizeable amount by the committee. SEBI cautions that the claim could be filed only in the prescribed format upon specific notification by the committee.  Till such notification, investors have been requested to retain their documents with themselves and not to part with them for any reason. 
 
Meanwhile, it is noted that despite the above notice claims are being filed by individuals or through associations enclosing documents. SEBI has cautioned investors not to be misguided or fall into a trap by inducements and false promises.
 

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COMMENTS

Srinivasan Ganesh

3 weeks ago

Pls announce the date when we will get the money back. Very very difficult to handle the situation..

Dhruv Chand

3 weeks ago

Please so 100/clear date when give money. Now have very and big problam.

Dhruv Chand

3 weeks ago

Please please i give request. What happen.
When give my money very difficults sessutoin very problam very serious.

Anu Anusha

4 weeks ago

Please announce the date it doesn't matter if is too late

Anu Anusha

4 weeks ago

Please announce the date it doesn't matter if is too late

Balwant Kumar

1 month ago

Kya Abhi tak pack ki property sale nahi Abhi game paise ki bhuhat jarurat please kab hamara paisa kab melega

Balwant Kumar

1 month ago

Kya Abhi tak pack ki property sale nahi Abhi game paise ki bhuhat jarurat please kab hamara paisa kab melega

Balwant Kumar

1 month ago

Kya Abhi tak pack ki property sale nahi Abhi game paise ki bhuhat jarurat please kab hamara paisa kab melega

Vijaykumar Gupta

2 months ago

kabhi tak paisa milega

Nifty, Sensex getting oversold; may bounce back– Thursday closing report
Broadly negative global indices, coupled with foreign fund outflows and rupee depreciation, dragged the Indian equity markets lower on Thursday. The key indices closed in the red, as selling pressure was witnessed in metal, banking and capital goods stocks. The wider 51-scrip Nifty of the National Stock Exchange (NSE) declined by 82.20 points or 1.02% to 7,979.10 points. Headline Sensex index on Thursday tanked 263 points, extending its falling streak to the seventh consecutive session, and ended below the crucial psychological level of 26,000.  The Sensex touched a high of 26,248.45 points and a low of 25,940.14 points during the intra-day trade.
 
The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Sentiments remained down-beat after Prime Minister Narendra Modi’s top economic adviser Bibek Debroy has said that the negative shock from demonetisation will last until the end of March, though he also said that improved growth next year should fully compensate for the loss.
 
The India VIX (Volatility) index was up 5.76% at 15.55. The BSE Midcap closed at 11,809 and Smallcap indices closed at 11,802. Out of 1,887 stocks traded on the NSE, 886 declined and 316 advanced today. The BSE market breadth was skewed in favour of the bears - with 1,990 declines and 660 advances. A total of six stocks registered a fresh 52-week high in trade today, whereas 31 stocks touched a new 52-week low on the NSE.
 
It was the first time since March 2015 that the domestic equity market has ended in the red for seventh session in a row. In the midcap and smallcap segments, the S&P BSE Midcap index closed at 11,808, down 176 points, while the S&P BSE Smallcap index ended at 11,801, down 149 points. In the sectoral landscape, metal stocks shed most weight followed by basic materials and consumer durables stocks. The S&P BSE Metal index plunged 286 points to close at 10,021.
 
The Indian Rupee was trading lower by three paise at 67.93 per dollar. Gold was trading at Rs26, 918 per 10 grams and silver was trading at Rs38, 983 per kg.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
China stocks ended marginally lower as strength in the shares of state-owned enterprises (SOE) was offset by persisting tight liquidity in the wake of a bond scandal. The CSI300 index fell 0.1% to 3,335 points, while the Shanghai Composite Index lost 0.1% to 3,140 points. Japan's Nikkei slipped from one-year high as investors booked profits on recent gainers. The Nikkei dropped 0.1% to 19,427. The broader Topix fell 0.1% to 1,543. Hang Seng slipped 1%. European stocks opened in the red. 
 
The closing values of the major Asian indices are given in the table below:
 
 

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