Latest


Court orders confiscation of Odisha's Rose Valley property

  •   Wed, Feb 25 2015 09:55:55 PM

Bhubaneswar, Feb 25 (IANS): A special court in Odisha Wednesday ordered the state government to confiscate property worth Rs 63.64 crore owned by the Rose Valley ponzi firm in the state.

The court in Cuttack passed the order to confiscate the property under the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.

The Enforcement Directorate (ED) had attached 2,631 bank accounts of the ponzi firm in West Bengal, Odisha, Jharkhand, Tripura, Assam and Himachal Pradesh in Nov 2014.

The ED had frozen Rs.295 crore lying in these bank accounts under the provisions of the Prevention of Money Laundering Act (PMLA), said sources.

  

Top Stories

Pope Francis passes away at 88, Vatican confirms

  •   2 hours ago    21

Success in PU can mean life victory: BOSCOSS makes it possible

  •   6 hours ago   

Comment on this article

  • Kanu Kumar Biswas, Burdwan, West Bengal

    Mon, Mar 02 2015

    Dear Sir/Madam,

    Investigation is going too slow. What about the investor, when they should get their money back ?

    Thanks & Regards

    Kanu

    DisAgree Agree Reply Report Abuse


Leave a Comment

Title: Court orders confiscation of Odisha's Rose Valley property



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.

You might also like