Asset Disposal Committee Advances Compensation for Rose Valley Ponzi Scheme Victims

The Asset Disposal Committee, established by Calcutta High Court, is compensating victims of the Rose Valley Ponzi scheme. With assistance from the Enforcement Directorate, Rs 19.40 crore has been recovered through asset auctions. Retired Justice Dilip Kumar Seth leads the initiative, processing around 29 lakh depositor claims.

The Asset Disposal Committee, a court-mandated panel, is making strides in compensating victims defrauded by the infamous Rose Valley Ponzi scheme.

In partnership with the Enforcement Directorate, the committee has so far reclaimed Rs 19.40 crore by auctioning off assets seized under the Prevention of Money Laundering Act.

Heading the committee is retired Justice Dilip Kumar Seth, who reported that nearly 29 lakh claims have been filed. The committee has begun disbursing funds to those affected, with arrests made, including that of the scam's orchestrator, Gautam Kundu.

(With inputs from agencies.)