Bhubaneswar, Mar 13 (UNI) The Special Court (PMLA), District and Sessions Court, Khurda, has released Rs.332.76 crore of proceeds of crime, held as fixed deposits in various bank accounts and attached by the Enforcement Directorate (ED), in connection with one of the biggest multi-state chit fund scams involving the Rose Valley Group of Companies.
The fixed deposits, whose present value is approximately Rs.450 crore, were released due to the persistent and concerted efforts of the Directorate of Enforcement (ED), Bhubaneswar Zonal Office, for restitution to lawful claimants and investors.
The Rose Valley Group of Companies, under the leadership of its Managing Director, Gautam Kundu, operated in the eastern region, including Odisha, West Bengal, Assam, and Tripura.