Court Orders Restoration of Rose Valley Scam Funds

A special court in Odisha has mandated the return of Rs 450 crore linked to the Rose Valley multi-state chit fund scam to legitimate investors. The PMLA court in Bhubaneswar has released Rs 332.76 crore, valuing at Rs 450 crore with interest. The ADC, led by Justice Dillip Kr Seth, supervises the restitution process.

A special court in Odisha has recently ordered the restoration of Rs 450 crore related to the notorious Rose Valley multi-state chit fund scam. The funds, previously attached by the Enforcement Directorate (ED), will now be returned to their rightful claimants and investors.

The PMLA court in Bhubaneswar commanded the release of Rs 332.76 crore, whose current value with interest amounts to Rs 450 crore, as confirmed by the ED in an official statement. These funds were held as fixed deposits across various bank accounts under the Rose Valley group, led by managing director Gautam Kundu.

The Asset Disposal Committee (ADC), chaired by Justice Dillip Kr Seth (Retd), continues to process claims through a comprehensive restitution mechanism, facilitating the return of assets to affected investors across the nation.