ED to file chargesheet in Rose Valley case today
1 April 2015 12:16 AM GMT
The Enforcement Directorate (ED) is expected to file a charge sheet on Wednesday against the Rose Valley group in connection with its probe in the ponzi scam allegedly perpetrated by consortium of companies belonging to the group.
Sources privy to the development said the agency has compiled its investigation done against the group, its officials and those working in association with it and investigators will be placing the same as a charge sheet in a special court here.
“The prosecution complaint under sections of the Prevention of Money Laundering Act against the Rose Valley group is expected to be filed tomorrow,” they said.
ED had arrested group Chairman Gautam Kundu on March 25 and his bail plea was rejected by a local court here Tuesday.
The agency has investigated the case acting on the prosecution complaint filed by SEBI against the group of companies for “unauthorised issue of debentures” and violations under the Corporate Affairs Act.
“The modus operandi used by the group to conduct the investor fraud would be described in the charge sheet,” the sources said. The ED estimates that gullible investors were duped by this group to the tune of Rs 15,484 crore.
Sources privy to the development said the agency has compiled its investigation done against the group, its officials and those working in association with it and investigators will be placing the same as a charge sheet in a special court here.
“The prosecution complaint under sections of the Prevention of Money Laundering Act against the Rose Valley group is expected to be filed tomorrow,” they said.
ED had arrested group Chairman Gautam Kundu on March 25 and his bail plea was rejected by a local court here Tuesday.
The agency has investigated the case acting on the prosecution complaint filed by SEBI against the group of companies for “unauthorised issue of debentures” and violations under the Corporate Affairs Act.
“The modus operandi used by the group to conduct the investor fraud would be described in the charge sheet,” the sources said. The ED estimates that gullible investors were duped by this group to the tune of Rs 15,484 crore.
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