On 06.07.2023, the Directorate of Enforcement (ED) conducted search operations in various premises of M/s Emparta Infrastructure Pvt Ltd and its Directors in Siliguri and Sikkim, and during the course of the search proceedings, M/s Emparta Infrastructure Pvt Limited voluntarily tendered a draught amounting to Rs 2.60 Crore of their pending arrears of lease rent pertaining to a Rose Valley Group hotel. Unaccounted cash totalling Rs 44 lakhs was also confiscated from the search site.
The Enforcement Directorate initiated an investigation under the provisions of the Prevention of Money Laundering Act, 2002 against Rose Valley Group of Companies and other persons associated with the company after taking note of various FIRs filed by West Bengal Police and the CBI against Rose Valley Group & Ors. The Rose Valley group acquired cash from the ordinary naive public by floating false schemes and defaulted on re-payments totalling Rs. 6,666 crore, which represents the profits of crime, according to the investigation.
So far, moveable and immovable properties worth Rs. 1,172 crores have been attached and confiscated as part of the inquiry. Gautam Kundu, the promoter/owner/chairman of the Rose Valley Group of Companies, is still in judicial prison after being apprehended by the ED in March 2015.
ED has filed one Prosecution Complaint and two additional complaints thus far. More research is being conducted.
