gfiles magazine

April 17, 2013

Thorn among roses

digging it out
real estate investor protection
Thorn among roses
The Rose Valley Group, with its interests in hospitality, films, amusement parks and finance, is already under the SEBI lens but continues to operate unabashedly
byAnil Tyagi
This is the story of how a national resource has been systematically looted by vested interests. It also documents how, as part of a larger conspiracy, a private company was able to squander Rs 2,816.24 crore belonging to the poor in the name of selling land and farm houses in West Bengal that did not exist, not even in their own brochures. It is a scam being perpetrated by the infamous ‘Rose Valley Group’ for almost a decade now, involving thousands of crores of money earned by small investors.
Gfiles has compiled a comprehensive record of how the Kolkata-based Rose Valley Group of Companies systematically plundered the poor man, publishing false claims to give a home to the common man. What is sad is that this loot has taken place in full public view, despite complaints and protest notes based on public documents and actions having been filed, the promoters and directors of the Rose Valley Group are yet to be held accountable...Read More

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