Kolkata: CBI has taken custody of Rose Valley Group chairman Gautam Kundu who was arrested by the Enforcement Directorate in March 2015.
“He was produced before the Special CJM Court, Bhubaneswar and was remanded to police custody till 02.02.16.The instant case was registered against said Group of Companies & others on the orders of Hon’ble Apex Court dated 09.05.14,” said the statement issued by the CBI today.
“It was alleged that the said Group had collected more than Rs.10,000 crores from the public. Investigation so far revealed that then Chairman was allegedly involved in cheating of the public by the said Group and he had siphoned off huge funds of the company which were illegally collected from the public. He was also allegedly instrumental in the diversion of the funds of the deposit collection companies of said Group to other Group companies wherein he was also Director,” added the statement
A chargessheet was filed on 07.01.2016 in the Court of Special CJM, Bhubaneswar against then Chairman; then MD; then Senior Director and others including an official of said Group & three companies of said Group U/s 120B r/w 420/409 of IPC & Section 4&6 of Prize Chits and Money Circulation Schemes (Banning) Act in the case.Further investigation is continuing in the case for examination of the role of the accused persons, role of regulatory agencies, larger conspiracy and money trail, added the statement.