Investors duped by Rose Valley chit Fund Company to get back their money

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Bhubaneswar: The Special Chit Fund Court in Cuttack on Thursday pronounced verdict in favour of the small investors duped by Rose Valley chit Fund Company.

The decision (in favour of the duped investors) is first of its kind in Odisha. As per the court order 2, 38, 477 depositors will get back their money amounting to the tune of approximately Rs 92.08 crore. The amount to be disbursed will be collected from the bank accounts of the company and from the confiscation of the lands of  Rose Valley company.

The investors who had deposited Rs 7,000 in the chit fund company will get back the total amount, while in cases of more than Rs 7,000 and less than Rs 10,000, the government will credit Rs 7,000 and 50% of the remaining invested amount to their account.

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