TechnoGroot - BloggerRedirect.txt Displaying TechnoGroot - BloggerRedirect.txt. Rose Valley: a vague outline of arrests of high-le - SadLife.In

Breaking News

Rose Valley: a vague outline of arrests of high-le

rose valley latest news

Sudip Bandyopadhyay detention is flammable in the already hostile relations between the Party and the Trinamool Congress Party, the BJP points. What are the case against him and his party colleague Tapas Pal?

Rose Valley: a vague outline of arrests of high-le


Back to back two of Trinamool's party, the congress of the arrest of representatives - representative and MP of Lok Sabha of Krishnanagar, Tapas Pal last Friday, the party leader in the Lok Sabha Sudip Bandyopadhyay on Tuesday - has put The focus back on The Tricks Ponzi that shook the state of West Bengal in 2013 -14. He was captured in each of the House of Representatives by the Central Bank of Iraq in Kolkata in the case of Rose Valley - supposedly a scheme to trick small investors with the promise of extraordinary returns. TMC two other deputies, Kunal Ghosh and Srinjoy Bose, West Bengal's minister, Madan Mitra, had previously been arrested in connection with the known Saradha scandal.


Sold temporary membership plan Valle de Las Rozas with the promise of a time in the luxury hotels of the expiration of the term. A group dedicated to building and hotel, cinema, and built the own brand with anger, tender care Durga through Calcutta, and at one time, until the IPL team Kolkata gentlemen of the motorcycle. Tapas Pablo and other figures from the entertainment industry, most recently the Bharatiya Janata Party MP Babul Supriyo, has been linked to the scandal, as well as a group of politicians, including Prime Minister Odisha and Tripura in the Naveen Patnaik and Manik Sarkar. Despite the progress, the title of longest Saradha and Rose Valley allege that the biggest scam, with an estimated value of Rs 17,000 rupees.




So what did Rose Valley offer?
Rose Valley was set up in the 1990s by one Cajal Kondo, who began as an LIC. Graph of the company rose dramatically within a very short period of time. After the death of Cajal and his entire family in a car accident while he was on a visit to Tripura in 2003, and approved the business to his brother Gautam Kondo, a man known for his flamboyant style and love of expensive cars. There were rumors about foul play in the incident and the death of Cajal, but the group scaled the highest levels in light of Gautam.


According to investigations, Rose Valley Hotels and Entertainment Limited (RAHEL) system called Rose Valley launched a holiday membership plan in 2010. Investors can book a package holiday through the payment of monthly installments. At maturity or completion of the plan period, they can opt for a holiday, which included hotel accommodation, services, or an annual return on investment interest. CMA SEBI, which were imposed in July 2013, and found the company offered plans with interest rates ranging from 11.2% to 17.65%. Can not cancel the subscription, the investor can not get the money back before the end of the well.

And what exactly was a scam?
SEBI is estimated that the company has received Rs 10,000 crore without regulatory approvals. After preliminary investigations in the "Rose Valley Organic leave plan," and found that RAHEL been "collective investment system" run without the necessary approvals and registration with the regulator. At about the same time that began SEBI investigations, the state police recorded Assam case against Rose Valley to collect crores in 1006 through organic holiday scheme until February 2012. The CBI accuses later chairman Gautam Kondo and three others from defrauding investors from all over of the country amounting to more than Rs 17,000 rupees.

S Raman, the whole time member of SEBI, and found that the scheme was all the "ingredients" of the Commonwealth of Independent States and that the "contribution in the form of monthly installments by investors, assembling and used for this purpose of the plan membership vacation." He said in order and made these contributions by investors in order to obtain profits or income returns in the form of an annual interest.
In July 2013, revealed the investigation into the financial affairs of the entities Rose Valley by the Indian Express dubious spending in the profit and loss accounts of group companies: For example, you might Rose Valley Real Estate (RVRE) payments to the tune of Rs 365 crore in 2010-11 and 2011-12 toward retirement voluntary, but there was not any other situation. Again, in the financial statement of 2011-12 RVHE, marked by the introduction of 484 crore rupees as miscellaneous expenses.
Balance sheet and profit and loss (P & L) statement of RVRE accessed through the Registrar of Companies (ROC) not only pointed to the poor performance by the company but also the cash to leak. While revenues for the year ended in March
In 2012 amounted to 42.5 crores, losses for the year amounted to Rp 222 billion rupees.
And it amounted to losses in the previous year to Rs 374 billion rupees. The company started from the voluntary retirement expenses of Rs 200 crore and 165 crores in FY12 and FY11 respectively. During 2011-12, the cash and bank balances of the company fell from Rs 733 crore rupees 572 billion rupees.
When contacted, the company said the Indian Express had said there was a "lack of voluntary retirement element," and "the number that is referred to relate to compensation for giving up the right of occupancy." This was contrary to what has been stated in the introduction RVRE with the Republic of China.
P & L statement showed RVHE for the year ended March 2012 and other expenses of Rs 489 billion rupees, with the increased nearly nine-fold increase in losses of Rs 52 billion rupees in FY11 of Rs 468 crore in FY12. And increased cash and bank balances RVHE of Rs 741 crore in FY11 1,222 crore rupees in FY12, but jumped the current liabilities of Rs 990 crore in 2906.
Loans and advances granted the company an amount of Rs 596 crore during the year, which was given Rs 378 billion rupees for its holding company, any RVRE, and another Rp 217 billion rupees for the promoter Gautam Kondo.
The company said in the Indian Express, then that's RVRE loans were interest-free, and that there is a loan given to Kondo.
What is the role played by the TMC in the rise of companies such as Rose Valley and Saradha?
Sudip Bandyopadhyay was at one point a director at one of the companies Rose Valley is said to have family ties with Gautam Kondo. The appetizers Pal and his wife on board the Rose Valley administration. In 2010, it was Pal written to Finance Minister Pranab Mukherjee and then about proliferating Ponzi scams in the state of West Bengal, but made no mention of Rose Valley.


It has been linked to many of the leaders of the TMC Saradha scam. Srinjoy Bose had to resign his seat, the Rajya Sabha was Kunal Ghosh in prison nearly three years before being released on bail before Diwali. He claimed Ghosh was framed and accused a number of TMC leaders, including the supreme Mamata Banerjee, of involvement in the scam. During the election campaign, the Lok Sabha in 2014, Prime Minister Narendra Modi alleged that Saradha promoter Sudipta Sen had bought one of the paintings Banerjee of Rs 1.8 billion rupees, a claim that both the Party and the Trinamool Sen denied.


It has been signed many others down the pecking order Trinamool party by Saradha. Filmstar Mithun Chakraborty, who resigned his seat recently Rajya Sabha, crores returned one he had received from the company after the scandal broke. Trinamool MP questioned Party Arpita Ghosh in the course of investigations. However, as TMC refers repeatedly extended activities Saradha beyond the state of West Bengal, and claimed to have benefactors across the parties. Besides, it began operations in the state of West Bengal under the Left Front.

What is the status of investigations into two tricks?
It is investigated each of the frauds by the CBI and ED separately. Previous arrests in connection with the Rose Valley, including Gautam Kondo, made by the ED, who also gave first indictment against Kondo. The CBI filed 6 charge sheets in the case of Saradha, label, among other things, Ghosh, Mitra, Boss and Sudipta Sen. CBI also provided one indictment in the case of Rose Valley, naming Kondo and two other directors.