The Arthika Sansthamanakadwara Kshatigrastanka Milita Mancha (ASKMM)on Monday decried that though the Cuttack ADM issued a notification for identification of investors tehsil-wise who deposited in various branches of the Rose Valley company from June 1 to 21, but the same was conducted on June 17 and 18.
The Mancha and another forum, Rose Valley Jamakari Sangha, demanded identifying investors of the Rose Valley from each tehsil, auctioning off all the assets of the company at market prices, recovering Rs 562 crore the company collected from the State and invested outside Odisha and allowing a month more time to those investors who could not apply for return of their money due to fault of the their respective tehsils.
The ASKMM alleged that though the investors of the Rose Valley along with its other branches like the Rose Valley Hotel and Entertainment limited, the Rose Valley Industries, the Rose Valley Fashions and the Rose Valley Travels Private limited were asked to apply for claim of their invested money, but the Crime Branch’s Economic Offences Wing (EOW) was silent about another branch of the company, the Real Estate and land Bank India limited, which the Rose Valley owner Goutam Kundu opened and collected about Rs100 crore through it. The Mancha said this branch was opened at the Bapujee Nagar area and the Crime Branch had raided it and collected the hard disks and other documents of the office. The Mancha alleged that the investors of Real Estate and land Bank India limited were not allowed yet to apply for claiming their money.
Terming it as the State Government’s undue favour to the Rose Valley, the investors’ forum at a Press meet here also alleged that the land properties of the Rose Valley at Puri, Bhubaneswar, Cuttack and Baleswar were estimated far below their market prices and apprehended that it would hardly recover 10 per cent of the money duped by the company. Rose Valley Jamakari Sangha convener Prasanna Kumar lenka, Madhusudan Biswal, Anuradha Subudhi and scribe Rabi Das were present at the meet.