The Additional Solicitor General R. Sankaranarayanan told the Kerala High Court on Tuesday that the former Principal Secretary to the Chief Minister of Kerala, M Sivasankar, is the kingpin, who.
The judgment was pronounced by a bench of Justices AM Khanwilkar, Dinesh Maheshwari and CT Ravikumar on a batch of 241 petitions challenging the validity of the law.
Rose Valley case: PMLA court convicts Debenture Trustee Arun Mukherjee
Provisional Attachment order under PMLA was issued in respect of fourteen fixed deposits having total value of Rs 12 crores. (Image Source: File Photo)
Updated: Feb 13, 2021, 11:51 PM IST
Enforcement Directorate (ED) initiated investigation under the provisions of Prevention of Money Laundering Act, 2002 against Rose Valley Real Estates Construction Ltd. Chairman Gautam Kundu along with other persons related to company. It was alleged in the Securities Exchange Board of India that Rose Valley Real Estate Construction Limited and its Associate Companies repeatedly floated Secured Non - Convertible Debentures in the year 2001-2002, 2004-2005, 2005-2006 and in 2007-2008 and issued to more than 49 persons in each financial year and illegally raised the total sum of Rs 12.82 crores.