Enforcement Directorate(ED), which arrested Rose Valley chairman Gautam Kundu on the basis on a SEBI complaint, was confident of filing the charge sheet within 15 days. "We are going to file the charge sheet definitely with 15 days time," an ED official told PTI today. Kundu was produced at the designated Prevention of Money Laundering Act court here during the day and was remanded to five days in ED custody. The official said Rose Valley had been mobilising money issuing non-convertible debentures (NCDs) to investors without proper sanction of SEBI.
According to ED estimates the company had mobilised public money to the tune of Rs 15,000 crore, which was nearly five times the size of Saradha ponzi scam.
ED had frozen more than 2000 bank accounts of Rose Valley, following which the corporate entity had been renamed as Sun City Group and Chocolate Group. Rose Valley had been charged with money laundering by ED.
