ED probe finds funds were ploughed into group's jewellery, entertainment and hospitality businesses
Capital markets regulator Sebi on Wednesday said it will auction 27 properties of Rose Valley group of companies on November 25 at a reserve price of Rs 63.26 crore in a bid to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include flats, buildings, land parcels and hotels located in West Bengal and Bihar, the Securities and Exchange Board of India (Sebi) said in a notice. The e-auction will be conducted on November 25 between 11 am to 1 pm.
Rose Valley is one of the biggest money businesses after Sahara.
While Rose Valley claimed that it was mobilising funds for real estate business, Sebi came to the conclusion that the company was in fact running a Collective Investment Scheme and did not seek market regulator's permission, mandatory for these products.
In a fresh ponzi clampdown, Sebi on Wednesday barred Kolkata-based Rose Valley group from raising public money in the name of 'holiday membership' scheme, through which it is estimated to have garnered over Rs 1,000 crore (Rs 10 billion) without necessary regulatory approvals.
The case is related to a probe by Securities and Exchange Board of India over allegations that Rose Valley had raised money by issuing debentures without complying with the norms.
The probe agency is likely to take him to Bhubaneswar for further questioning.
Mithunda is expected to be discharged from hospital soon.
ED had arrested group chairman Gautam Kundu on March 25.
Chinese officials warn that glaciers on the Tibetan Plateau are becoming increasingly unstable, leading to a higher risk of flash floods and other disasters, as evidenced by a recent deadly ice-rock avalanche near the Nepal-Tibet border. The region has seen a significant reduction in glacier area, and scientists are calling for advanced monitoring systems to predict these complex events.
He will have to surrender before the court by the end of 14 days.
Kundu was arrested by the ED on March 25, 2015.
The death toll from devastating flash floods in Nepal has surged to 1,252, with more bodies recovered and fresh flood risks emerging due to continuous rainfall in the Bhotekoshi River's upstream areas. The disaster, triggered by an ice-rock avalanche, has also left 4,875 people missing and prompted calls to address climate change's impact on the Himalayan region.
'China wants to control and divert rivers.'
'I know China will implode. It is scientifically impossible for China to control a nation through the barrel of a gun.'
Heavy monsoon rains have caused widespread havoc across Arunachal Pradesh, leading to floods, landslides, and significant damage to infrastructure. Rescue operations are underway in multiple districts, with casualties reported and many displaced. Connectivity remains severely disrupted, and authorities have issued warnings as more heavy rainfall is forecast.
June-July 1999 saw some of the most bitterly fought battles in the Kargil War. Colonel Gaurav Chaturvedi looks back on those days -- and the extraordinary saga of the men he fought alongside.
Rahul Gandhi accuses Mamata Banerjee of not directly fighting the BJP, alleging that this indirect approach benefits the ruling party. He also criticised her government's performance on job creation and handling of corruption.
Congress leader Rahul Gandhi criticised the BJP and RSS for undermining the Constitution and accused the TMC of failing to deliver on job creation promises during rallies in West Bengal.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
Sacred spots and soaring peaks: Bucket-listing across the heartland. Roopa Unnikrishnan and her father journey through the heart of India.
Congress leader Rahul Gandhi criticised the BJP and RSS for undermining the Constitution and accused the TMC of failing to provide jobs in West Bengal during recent rallies.
The Indian government has relaxed foreign direct investment (FDI) norms for countries sharing land borders with India, including China, a move that amends press note 3 of 2020.
For many outside the technology sector, Shantanu Narayen's impact may not always be visible, but his leadership quietly transformed how millions of people learn, work, create and run businesses across the world.
Overall, the official data shows that over 7.85 crore tourists visited Jammu and Kashmir from 2023 to 2025, while over 4.76 crore tourists visited the Union Territory during 2016-18.
There is record underperformance and under-ownership. Some of this is cyclical and will turn on its own. However, we also need to regain our growth credentials. For this, both the government and companies have a role to play, as do investors, points out Akash Prakash.
Former Bigg Boss contestant Tehseen Poonawalla has hit back at trolls who have been criticising Salman Khan after the teaser of Battle of Galwan was released on his birthday.
A severe cold wave has gripped North India, with temperatures plummeting to near-freezing levels in several areas. The cold wave has disrupted daily life, with dense fog affecting visibility and forcing people to stay indoors.
Mbappe fires Real Madrid to the summit, Bayern lose at home and Dortmund stay in the title hunt.
As he took the bow at the end of the Lakme Fashion Week x FDCI show, many in the crowd cheered for him with an inkling that the magic and the beauty they just witnessed on the ramp was perhaps for the last time. But no one in the fashion fraternity thought that Bal would pass away so soon.
Bengaluru is at a critical juncture, where its economic model, reliant on attracting and retaining skilled professionals, is directly threatened by a measurable decline in urban quality of life, point out Shishir Gupta and Rishita Sachdeva.
'The (Maoist) organisation is in visible decline. Their senior leaders are ageing. Forest life is unforgiving -- older leaders simply cannot cope physically.' 'Earlier, they attracted educated youth from cities. That stream has dried up. Today's recruits largely come from poor village backgrounds and lack ideological depth.'
Notably, Siachen is the highest battlefield of the world, which sits on the nuclear tri-junction of India, Pakistan and China.
After record rains wreaked havoc in Jammu and Kashmir over the past two days, the death toll in related incidents rose to 41, most of them victims of the landslide on a Vaishno Devi pilgrimage route, while there was some let-up in the showers on Wednesday, allowing relief efforts to pick up pace.
Mrs Gandhi's power ebbed and peaked with the times. Mr Modi's has almost been constant, barring the few months of hard dip after the 240 seats of 2024, points out Shekhar Gupta.
Seventy years after Pather Panchali released on August 26, 1955, we finally get it. Shuttling between the village of Boral and a studio in Calcutta, caught between worrying about the next purse of funds and wondering which item to mortgage next, Satyajit Ray was explaining Indians to themselves, discovers Sreehari Nair.
The launch of the first-ever direct train service from Delhi to Kashmir would be a big turning point in the Valley's mood and its integration with India. He had to thwart it at any cost, asserts Shekhar Gupta.
The highlight of Tuesday's debate on Operation Sindoor was the speech by Prime Minister Narendra Modi, with the rebuttal by Congress's Wayanad MP Priyanka Gandhi coming a close second.
The labourers, who are said to be of Nepali origin, were engaged in the construction of a hotel.
Air India Boeing 787-8 crash in Ahmedabad has brought back all traumatic memories.
