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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 months ago

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

Dhruv Chand

3 months ago

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

Dhruv Chand

3 months ago

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

Anu Anusha

3 months ago

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

Anu Anusha

3 months ago

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

Balwant Kumar

4 months ago

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

Balwant Kumar

4 months ago

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

Balwant Kumar

4 months ago

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

Vijaykumar Gupta

4 months ago

kabhi tak paisa milega

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