Ponzi scam: Rose Valley chief produced in Balasore court

Balasore: The Economic Offences Wing (EOW) of Crime Branch produced chief of the Rose Valley Group of Companies Gautam Kundu in a specially-designated court here today.

Kundu was produced in the court as his five-day remand ended. Sources said the investigating agency would seek the court’s permission to take him on remand for five days more for further interrogation.

The probe agency had taken Kundu on remand to elicit details about the ponzi firm’s investor base in the State so that refund to the investors can be expedited.