Seven days after the arrest of chairman of Rose Valley Group of Companies Gautam Kundu, the Enforcement Directorate on Thursday filed charge sheet against six persons, including Mr Kundu.
All the accused, which includes five directors of the group and the chairperson, have been charged under different sections of Prevention of Money Laundering Act.
The ED had started investigation against Rose Valley on the basis of a complaint of capital market regulator Securities and Exchange Board of India (SEBI) against the company.
It has been alleged in the charge sheet that the company issued “illegal debentures” to many fictitious persons. The debentures amounted to Rs 12.80 crore.
According to the ED, which is investigating other cases against the group, the charge sheet is the result of over a year of investigation by the central agency.
The ED has alleged that the Rose Valley Group has generated Rs 15,000 crore from the public through issue schemes, which did not have sanction of the SEBI.
