AGARTALA, March 17 (TIWN): Final ultimatum by Agartala Municipal Corporation(AMC) to Rose valley on the issue of illegally occupying the Sakuntala Road office likely to be end on Tuesday. As a first step AMC will cut off the electricity and water facility of the building. While Mayor of AMC and West Tripura District Magistrate Abhishek Singh informed that this chit fund house was already been informed to leave the property of the Government. But they turned a deaf ear to the instruction which prompted AMC to take punitive steps. Talking to TIWN, Executive Engineer of AMC, Arun Roy told that, after the passing of the final ultimatum on March 17, AMC will apply their own steps against the chit fund. It is to be mentioned here that earlier, two persons Rose Valley Director Ashok Saha and Branch Manager Anupam Bhattacharjee were also arrested for collecting money without any valid permission from RBI or SEBI. Rose Valley has been biggest chit fund operator in Tripura and has presence even in remote tribal areas. Rose Valley chit fund scam is India's one of the largest NBFC scam involving Rs. 15,000 crores,which is three times above Sarada scam.

While, earlier, a new twist in the Rose Valley chit fund scam one agent namely Santosh Kumar Bhowmik resident of Champaknagar who was picked by the Central Bureau of Investigation (CBI) officials for interrogation, on March 4th was found absconding from the state. According to highly placed sources, at present the Central Bureau of Investigation (CBI) officials are examining the papers and documents which they have collected during the raid at head office of chit Fund Company Rose Valley on March 4. After examining all the papers and documents the Central Bureau of Investigation (CBI) officials will arrive in the state to interrogate the people those were engaged with the Rose Valley chit fund. In the upcoming days the Central Bureau of Investigation (CBI) officials will conduct a series of raids in houses of the agents of Rose Valley chit fund, the source added.

The company was first raided in 2011. According to official figures, the Rose Valley had collected Rs 196 crore during the past three years, out of which an amount of Rs 86 crore has been returned on maturity. The Rose Valley authorities could not give any explanation where the remaining money is. The Kolkata based chit fund company has several branch offices in West Bengal while over twelve thousand agents are working in the ‘down line’.

It is also to be mentioned here that one of the top functionary of Rose Valley run media channel who has always tried to create problem during the raid conducted by CBI and also misbehaved with the media persons regarding the issue. Top Rose Valley official Ashok Saha and 11 others were also interrogated and vital leads collected. At the end of the raid CBI officials were seen collecting two large boxed containing files and cash and taking in their possession.