Chit fund Rose Valley office raided in Sikkim

PTI | 4 May, 2013, Gangtok :The office a Kolkata-based chit fund Rose Valley was raided by a team of policemen this morning at Tadong in Gangtok. 

"The branch office of Rose Valley company was searched and documents have been seized. We have a suspicion that the company is luring and collecting money from people here violating Sikkim Protection of Interests of Depositors Act," Superintendent of Police, East district, Manoj Tewari said. 

"No company official was present when the police reached the office. The policemen broke the lock in the presence of sub-divisional magistrate and seized documents related with money collecting activities," he said. 

The office was closed for the past two days and locals had removed the signboard from here, the police said.
KalimNews: Offices of Prayag group located in Deorali was also raided by the Sikkim police, in all raids police found that the hard discs of the main computers were taken out by the chit fund officials.
Police have sealed the offices after the raid.
Meanwhile police is searching for Passang Bhutia the absconding Rose valley manager.