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.
ED probe finds funds were ploughed into group's jewellery, entertainment and hospitality businesses
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.
ED had arrested group chairman Gautam Kundu on March 25.
Rose Valley is one of the biggest money businesses after Sahara.
He will have to surrender before the court by the end of 14 days.
'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.'
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.
Bandopadhaya claimed he was innocent and had no involvement in the scam.
Air India Boeing 787-8 crash in Ahmedabad has brought back all traumatic memories.
Another TMC MP Tapas Pal has been sent to judicial custody after six days in CBI custody.
A preliminary report on the investigations is likely to be submitted soon by SFIO, but the final report may take little longer, Corporate Affairs Minister Sachin Pilot said.
Centre must share blame for Ponzi schemes with West Bengal.
There's clearly no limit to how dramatic a wedding can be.
The agency said the recall of the order granting Kumar an interim protection from the arrest was necessary.
'I have tutored my family and myself to fight hunger,' the former agent for the disgraced Saradha chit fund says, his eyes welling up. 96 of the 107 cases referred to the Serious Fraud Investigation Office are based in Bengal!
Bandyopadhyay had approached the high court in February seeking regular bail on health grounds.
A special task force of the SFIO recently submitted an interim report to the Corporate Affairs Ministry in this regard.
The regulator is also exercising its new powers like collection of information from other regulators, government departments and even commercial enterprises such as telecom companies and banks.
Ponzi or MLM schemes are fraudulent investment operations.
"Tapas Paul was under tremendous pressure from central agencies and was a victim of the Centre's vendetta politics," she told reporters at Rabindra Sadan where Paul's mortal remains have been kept for people to pay homage.
The quizmaster-turned-parliamentarian was interrogated for about two hours on some financial transactions in bank accounts related to the TMC mouthpiece 'Jago Bangla'.
Will Lieutenant Governor Manoj Sinha, who gets his orders from New Delhi, call the shots or allow a democratically elected government to independently govern, questions Ramesh Menon.
Amidst strained ties with China, the pre-budget Economic Survey on Monday made a strong case for seeking foreign direct investments (FDI) from Beijing to boost local manufacturing and tap the export market. As the US and Europe are shifting their immediate sourcing away from China, it is more effective to have Chinese companies invest in India and then export the products to these markets rather than importing from the neighbouring country, the Survey said.
The Bharatiya Janata Party on Tuesday clinched a stunning hat-trick win in Haryana overcoming anti-incumbency and dashing Congress' hopes of a comeback while the National Conference-Congress combine pulled off a spectacular victory in maiden elections in Jammu and Kashmir after abrogation of Article 370 in 2019.
The agency had summoned him in January too but he sought time, citing the ongoing Winter Session of Parliament, they said.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
As Rose Valley resurfaces, Sudip Bandyopadhyay and Tapas Pal's arrests marks the end of the bonhomie between the TMC and BJP.
Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
In the last three years, 20 gardens have changed hands, and 90 per cent of the buyers are from non-tea background.
Completing its over a-year-long probe into Saradha scam, the Serious Fraud Investigation Office (SFIO) has submitted its final investigation report to the government, which may soon start prosecution proceedings for numerous serious violations found during investigations.
The Rajya Sabha MP, who is also a spokesperson of West Bengal's ruling party, was asked to appear before a CBI team in the first week of August, officials said on Friday.
With the Supreme Court ordering Kolkata Police Commissioner Rajeev Kumar to appear before the Central Bureau of Investigation, the agency will finally be able to question the top cop in cases arising out of the Saradha chit fund scam probe.
Former Trinamool Congress MP Kunal Ghosh also appeared before the probe agency in Meghalaya.
Banerjee said she was doing so after consulting leaders of major opposition parties and following 'a favourable court order'.
'Neither the Centre nor the state is helping us, rather they are coming up with new ways to create stumbling blocks for the return of money.'
The Pandits congratulated the hajis for completing the pilgrimage and sought their blessings. They offered roses to the pilgrims.
The two giants of Indian football, Mohun Bagan and East Bengal, are facing turbulent times. On the pitch, East Bengal finished a respectable third in the 2012-13 I-League season, while Mohun Bagan finished a disappointing tenth.
The two central premier investigative agencies - Central Bureau of Investigation and Enforcement Directorate - have asked their officials to focus more on digital evidence, e-forums and social media to crack down on offenders. These are a crucial part of prosecution amid the second wave of the pandemic. The Income Tax Department is going full throttle on data analytics to issue notices in time-bound cases. Further, sleuths have been given electronic devices including laptops with secure connections, which keep data encrypted and inaccessible.
Shortly after arrest, BJP state headquarters in Kolkata was attacked allegedly by members of TMC student wing.
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