ED attaches properties worth Rs 150cr in money laundering case

New Delhi, March 29 (IANS) The Enforcement Directorate (ED) on Wednesday said it has attached 139 movable and immovable properties worth Rs 150 crore belonging to the Rose Valley Group of Companies and the directors, under the Prevention of Money Laundering Act (PMLA).

The ED initiated a probe under the PMLA against Rose Valley Group of Companies and others on the basis of the FIRs registered by the Bureau of Investigation (Economic Offences), and the CBI, Guwahati against Rose Valley Group of Companies and its directors.

The CBI had also filed a chargesheet in two cases lodged by them wherein they had alleged that an amount totalling to Rs 718 crore (approximately) remains unpaid to the investors of Assam.

"On the basis of the above, investigation was conducted by the Enforcement Directorate under the provisions of the PMLA, which revealed that the funds were collected by selling the fake and fabricated schemes through a chain of agents located in Assam, West Bengal, Tripura, Odisha, Jharkhand and several other states. In Assam, schemes were sold in the name of Rose Valley Real Estate & Construction Ltd. (RVRECL) and its associates groups.

"The funds collected by selling fake schemes were routed and transferred to the corporate office of Rose Valley Group in Kolkata and from the Corporate Office, the fund was transferred to the accounts of various companies in guise of loans and advances. Bank accounts and ledger maintained by these companies were collected and scrutinised to trail the proceeds of crime," the ED said.

"During the course of the investigation, 139 immovable properties consisting of land banks, flats, commercial spaces, office spaces, shops etc., registered in the name of various companies of Rose Valley Group and its directors, located in Tripura, West Bengal and Andaman, have been identified and provisionally attached," an official said.

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