Court orders confiscation of Odisha's Rose Valley property

Posted on 26th Feb 2015 12:32 pm by mohit kumar

Bhubaneswar, Feb 25 (IANS) A special court in Odisha Wednesday ordered the state government to confiscate property worth Rs 63.64 crore owned by the Rose Valley ponzi firm in the state.

The court in Cuttack passed the order to confiscate the property under the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.

The Enforcement Directorate (ED) had attached 2,631 bank accounts of the ponzi firm in West Bengal, Odisha, Jharkhand, Tripura, Assam and Himachal Pradesh in Nov 2014.

The ED had frozen Rs.295 crore lying in these bank accounts under the provisions of the Prevention of Money Laundering Act (PMLA), said sources.

Other news

'Beti Bachao, Beti Padhao' drive launched in Mizoram

Aizawl, March 9 (IANS) DoNER Minister Jitendra Singh on Monday launched the central government'

Pakistan's ruling coalition PDM begins talks with PTI to resolve the political crisis

For the first time after coming to power, the federal government led by the Pakistan Democratic M

Power Crisis: States did not pay Coal India's 21 thousand crore rupees, nor did they raise coal

To end the deepening power crisis in the country, several steps have been taken by the Central Go

40th day of Farmer Protest: Government meeting with farmers continues; A 2-minute silence was kept for those who lost their lives in the movement

Today is the 40th and important day of the farmers' agitation against agricultural laws. The 8th

Apple can launch 4G models of iPhone 12, know - how cheap will be the price

New Delhi: For those who are fond of the iPhone, the company can also launch many models of iPhon

Monsoon Update: Drizzle in Delhi, drizzle in Northeast, Loo days, know where it will rain today

The Southwest monsoon is giving relief to live in the country. Due to the effect of Western Distu

G-20 Summit: Advancing US-India relations is our priority – US Treasury Secretary Janet Yellen

US Treasury Secretary Janet L. Yellen on Thursday (September 8) emphasized India-US bilateral rel

Delhi Metro to Run on Single Line on Select Days

New Delhi, Feb 20 (IANS) Trains between Sarita Vihar and Badarpur section will run on single li

OPD services halted across the country: Doctors took to the streets in Delhi and NCR, staged massive protests; demanding justice

Doctors across the country are protesting at various places against the rape and murder of a fema

Raje , RSS clashes over the demolition of temples in Jaipur

In Rajas