Court to auction Rose Valley property in Orissa


Kolkata/Bhubaneswar: A special court in Bhubaneswar has directed to auction the Property held by the Rose valley Group in Orissa. As per the reports Rose valley had mobilized an amount of 63 crore and 64 lakhs from the investors in Orissa. This move by the court is first in its kind where a court verdict directed the company to pay off the investors by auctioning its property. Rose valley has a deposit of 51 crore 17 lakh in the bank, and the company also owns 14 acres land in Nilgiri and Puri. Justice PK Shyamal of Katak Court through his verdict on Thursday provided the investor a hope to regain their hard earned money.