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Rose Valley scam: CBI files supplementary chargesheet against company chairman in Tripura

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AGARTALA: The Central Bureau of Investigation (CBI) on Friday has filed a supplementary charge sheet against Rose Valley Real Estates and Construction Ltd Chairman Gautam Kundu and others for alleged involvement in a scam.

It had filed the charge sheet in a district court in Tripura.

The CBI has alleged that the company collected deposits of more than Rs 31 cr by luring investors.

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The money collected in violation of the Companies Act and SEBI regulations was allegedly diverted to the loss-making group companies knowingly.

Reportedly, the chairman and his assiciates created many bank accounts and and diverted the fund as per their own interest.

During the investigation, CBI founnd that the accused group used to falsely portray and promote their company as a highly profitable one.

A large number of agents would be appointed and they would be used to collect deposits by promising them high commissions an incentives.

“The investors of accused company’s Amarpur Branch, Tripura were cheated through non-refund of their investment and Rs 4.81 crore was allegedly misappropriated by the said accused,” a CBI Spokesperson said in a report.

The central agency has been looking into the scam cases since 2014.It said that the accused used to run an illegal money circulation scheme under the Prize Chits and Money Circulation Schemes (Banning) Act.

 

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