ED attached properties of Rose Valley worth Rs 304 cr

Kolkata: The Enforcement Directorate (ED) has attached property of Rose Valley worth Rs 304 crore on Friday.

On Friday the ED tweeted, "ED has taken possession of movable and immovable properties worth Rs. 304 Crore of Rose Valley Group of companies under PMLA." The Rose Valley group had allegedly flouted norms and collected huge amounts of money from people promising high returns.

But on several occasions the group failed to pay the money on maturity. The ED had earlier identified several properties in West Bengal, Odisha, Tripura, Assam, Maharashtra, Jharkhand.

During February this year, ED had served notice to the occupants of the flats and office premises owned by the Rose Valley group to vacate the premises within a certain period.

Though ED had attached several properties in connection with the Rose Valley financial scam, several group owned flats and offices were left untouched.

On Friday several moveable and immoveable properties including the flats and offices were attached under the provisions of Prevention of Money Laundering Act (PMLA). It may be mentioned that Subhra Kundu, wife of Rose Valley chief Goutam Kundu was arrested on January 15 from her Kolkata residence. Following her arrest, the investigation got expedited.