From Our Correspondent
Agartala: After trying hand against little-known chit fund companies, the Administration on Friday launched one of the biggest operations against ‘mighty’ Rose Valley here.
In course of the operation, police netted two officials of the chit fund companies- its Director Ashok Saha and Branch Manager Anupam Bhattacharjee were arrested following an FIR lodged by SDM Manik Lal Das. Over 10,000 payment vouchers were seized along with several documents during a marathon raids in the office of Rose Valley, one of the biggest money marketing companies in the state.
A team headed by SDM Manik Lal Das entered into the Rose Valley’s regional office at Mantribari Road around 1130 am.
Though the SDM was reluctant to speak with media, source said massive irregularities were found in the marathon operation.
In fact, the Rose Valley which has a good number of offices spreading all over the state has not RBI or SEBI permission to collect money in different schemes. However, it has got trade licence from the Agartala Municipal Council (AMC) that doesn’t permit it to collect public investment.
According to official figures, the Rose Valley had collected Rs. 196 crore during the past three years and out of which an amount of Rs. 86 crore has been given after maturity. The Rose Valley authorities could not give any explanation where is the remaining money.
After failing to show valid documents, Director Ashok Saha and Branch Manager Anupam Bhattacharjee were arrested on Saturday, said the SDM who led the operation. “Both the arrested persons would be produced before the court on Saturday seeking police remand for interrogation”, he added.
The raid in the Regional Office of Rose Valley sparked widespread resentment among agents who looks set to face the depositors’ fury. So far, eight persons of different chit fund companies have been arrested on charger of illegal money marketing business in the state. The government has already decided to hand over all the chit fund related cases to CBI investigation following pressure from opposition Congress.