Rose Valley assets auction begins

Bhubaneswar: Armed with a directive from the designated court in Cuttack, the state government on Wednesday began the auctioning of part of the properties of chit fund firm Rose Valley.

According to reports, the government is e-auctioning the seized properties of the of the Ponzi firm located at Bhubaneswar tehsil under Khurda district and Nialgiri tehsil in Balasore district.

The government is also auctioning four flats in the name of the company located on the outskirts of the city, the sources said.

The seized properties of the Ponzi farm have been valued at Rs 4 crore, the sources added.