Business Standard

Lookout notice against Rose Valley group chairman's wife

Image

Press Trust of India Kolkata
The Enforcement Directorate (ED) on Friday issued a lookout notice against Subhra Kundu, wife of Rose Valley group chairman Gautam Kundu, in connection with the probe into the multi-crore chit fund scam.
A team of ED officials, probing the money laundering aspect of the Rose Valley scam, had last week visited her south Kolkata flat, but she was not home, agency sources said.
According to an ED official, Kundu had written to the agency after finding out about the team's visit to her flat.
He, however, did not reveal the content of the letter.
The lookout notice has been issued against Kundu as a "precautionary measure", the official added.
The ED had in 2015 arrested Gautam Kundu and attached his assets worth Rs 2,300 crore, including hotels and resorts. The group had reportedly floated 27 companies to run the chit fund operations.
It pegged the total volume of the alleged irregularities in Rose Valley scam at Rs 15,000 crore, including interest and penalties.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 29 2019 | 1:55 PM IST

Explore News