Latest news with #AssetDisposalCommittee
Indian Express
5 days ago
- Business
- Indian Express
Rose Valley chit fund scam: More RS 10.5 crore returned to depositors
The ED on Wednesday said the Asset Disposal Committee (ADC) has disbursed an additional Rs 10.5 crore to 11,883 victims or depositors of the Rose Valley Ponzi scheme. 'With this latest round, the total amount disbursed so far to 72,760 victims has reached an Rs 55.45 crore,' the ED said, adding the agency has been instrumental in facilitating the attachment, possession, and disbursement of assets belonging to the Rose Valley Group, thereby streamlining and accelerating the restitution process for thousands of victims across West Bengal, Odisha, Assam, and other states. The ED said it is actively assisting the ADC in surveying and valuing confirmed attached properties and facilitating their expeditious monetization to ensure timely disbursal to the affected investors. 'As of now, the ADC has processed 72,760 claims, leading to the substantial funds disbursed. The restitution process is expected to intensify in the coming months as more claims are scrutinized. Through comprehensive investigations, the ED has successfully attached movable properties worth Rs 494 crore and immovable properties valued at 1,069 crore.
The Hindu
5 days ago
- Business
- The Hindu
ED facilitates disbursal of ₹10.5 crore to 11,883 more victims of Rose Valley Ponzi scheme
The Asset Disposal Committee (ADC) presided by Justice (retired) Dilip Kr. Seth and comprising Enforcement Directorate (ED) officials has, in the eighth round, disbursed ₹10.5 crore to 11,883 more victims of the Rose Valley Ponzi scheme. The total amount disbursed so far now stands at over ₹55.45 crore to 72,760 victims. 'In the committee presided over by ADC Chairperson Justice (retired) Dilip Kr. Seth, ED (Kolkata) has played a crucial role in facilitating the attachment, possession, and disbursement of assets of the Rose Valley Group, thereby smoothening and expediting the restitution of properties to the thousands of victims in West Bengal, Odisha, Assam, etc.,' an agency official said. The agency is actively assisting the ADC in conducting survey and valuation of the confirmed attached properties and in facilitating expeditious monetisation of assets for disbursal to the investors/victims. 'Further restitution process is expected to continue over the coming months as more claims are scrutinised and validated by the ADC. As on date, the ADC has processed 72,760 claims resulting into funds disbursal of about ₹55.45 crore,' the agency said. The ED has attached movable properties worth ₹494 crore and immovable assets valued at ₹1,069 crore, spread across West Bengal, Odisha, Assam, and Tripura, with properties in West Bengal alone accounting for ₹1,184 crore.
