ED officials visited the outlets to ascertain the extent of alleged money laundering that had taken place in setting up the expensive showrooms.
The Enforcement Directorate had earlier opposed Agarwal's bail plea saying he might tamper with evidence if the relief was granted to him. (Photo: File)
Kolkata: Enforcement Directorate officers on Wednesday started a search operation at three branded jewellery outlets of ponzi scheme firm Rose Valley in the city.
A team of ED officials visited the outlets to ascertain the extent of alleged money laundering that had taken place in setting up the expensive showrooms.
In August, angry depositors of Rose Valley’s various schemes had ransacked a hotel owned by the company at a prime location in the city, demanding their money back.
In a major crackdown on Rose Valley, market regulator SEBI had, in November, ordered a refund of thousands of crores of rupees to the investors, who had parked their money in the holiday membership plans of the group.
( Source : PTI )
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