DHARMANAGAR, Feb 2 (TIWN): Manik Sarkar led Tripura CPI-M's active backings enabled Rose Valley, I-Core, Basil International type Chit fund companies into big empires which caused poor depositors to lose over 1300 crores. After 11 days, when all the Rose Valley properties were seized at Agartala, the Dharmanagar administration also seized the property there. The property was bought in 2008 with R. 60 lakhs value, which has been seized on Thursday along with many other important items. Police and Govt Officials under SDM Pradip Acharjee have sealed the whole office, where from computers to many important Documents were recovered. This Rose Valley branch at Dharmanagar reportedly were getting trade license from Municipality till the year 2014, when across India it was seized. When Tripura Government was allowing for a tax free business to Rose Valley group of Agency, all of a sudden with the pressure of oppositions and the CBI inquiry threat has compelled the Govt to take some action against the Rose Valley building, which is standing beside Rabindra Bhawan building.

On Jan 21st, 2017 Sadar administration led by DCM Debashish Das had seized all the properties under Sadar. 

Along with that Malabati Tea garden 207 Ekar, Bordowali Flat, Rose Valley Park all were seized all of a sudden and after 11 days the Dharmanagar property was also seized.

But what surprising is that the Securities and Exchange Board of India (SEBI) had prohibited the sale of real estate by Rose Valley in January 2011 and the Tripura Govt un-following all those prohibitions year after years was doing the renewal of Rose Valley building. Either the Municipality of Agartala or Dharmanagar, every places were sheltering the Rose Valley even after 2011’s Rose Valley Tsumani came in allover India.

In addition, all the 2,600 bank accounts of the company, which together hold cash balances of Rs 800-1,000 crore, had been frozen by the government. However, among the 3 hit listed states along with Orissa and Assam, Tripura’s name was also declared by Supreme Court in 2013, but no action was taken against it.  Moreover, in 2012 from the office of the Nagar Panchayat ot Municipality at Dharmanagar with Rs. 3000/- license was given to Rose Valley Marketing India Lmt. with the validity upto 2013.

But all of a sudden the Rose Valley’s building has been locked by Tripura Govt. after Congress, TMC had kicked off various protests claiming that CPI-M Ministers, including the Chief Minister himself was involved in Tripura Rose Valley scam. Not only this the political representatives also unmasked the Tripura Govt how it sent a wrong report to New Delhi, just to avoid CBI inquiry in Rose Valley.

Not only this, at West Bengal Barasat the Rose Valley Entertainment Park was fully seized but at Agartala Amtali the park is making a Tax-Free business. But the state govt till day didn’t show any interest to conduct CBI inquiry against Rose Valley, whereas only a letter from the Chief Minister Office was enough to call for direct CBI inquiry against Rose Valley.

Recently on January 5 CID Tripura also had called for the customers documents for survey and after 5 / 6 years of the scam at last theproperties have been seized, which has raised further questions on Manik Sarkar’s clean image. However, no reporter was informed about the action, but it was fussed among media and in appropriate time, TIWN Journalists, Photographers reached at the heat of the moment.

But question remains about whether the investors will get back their money or not.