ED seizes seven vehicles in Rose Valley PMLA case

Properties worth a total of Rs 1,103.61 crore have been attached in this case till now by the Enforcement Directorate (ED).

Published: 13th November 2021 10:33 AM  |   Last Updated: 13th November 2021 10:33 AM   |  A+A-

income tax raid

Image used for representational purposes. (File Photo)


NEW DELHI: The Enforcement Directorate has seized seven four-wheeled cars after it recently conducted fresh raids in connection with the multi-crore rupees Rose Valley money laundering case.

The federal probe agency said in a statement on Friday that it conducted raids on November 10 at seven locations in West Bengal following which it seized two Mahindra Bolero SUVs, a Honda City car, a Toyota Innova, a Tata Indica, a Hyundai Verna and a Mahindra XUV having total value of about Rs 1 crore.

"These vehicles were found to have been acquired out of the proceeds of crime by the companies of the Rose Valley group," it said.

Properties worth a total of Rs 1,103.61 crore have been attached in this case till now by the Enforcement Directorate (ED).

The Rose Valley group of companies has been accused of collecting "huge amount of money from gullible public by floating various fake and fictitious schemes and defaulting on re-payments."

The probe found, the ED had earlier said, that several properties in West Bengal, Odisha, Tripura, Assam, Maharashtra, Jharkhand and others states were "acquired in the name of various companies of the group by illegally diverting the funds collected from the common public".

The ED had filed a criminal case of money laundering against the firm, its chairman Gautam Kundu and others in 2014 and also later arrested him in Kolkata.

Multiple chargesheets have been filed by it in this case even as the probe continues.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp