AGARTALA, April 12 (TIWN): Tripura High Court on Tuesday expressed disappointment over the affidavit placed by the SIT, directed to place new affidavit over the chit fund scam case by June 30. Reportedly, Tripura High Court on Tuesday directed Special Investigation (SIT) Team to place a fresh affidavit over the chit fund case which will not only include the details for the organization but also about the Managing Directors, owners of the organization. Mentioning about the details, HC also asserted that SIT should also mention all the details of the immovable and movable properties of owners. It is to be mentioned here that with the aim to launch fresh drive against the Chit fund scam in Tripura, Assam, WB and Odissa CBI has formed a special investigation team. It is worthy to mention here that the Manik Sarkar led CPI-M govt turned their back towards the depositors who lost everything following chit fund scam.Rose Valley has been biggest chit fund operator in Tripura and had presence even in remote tribal areas.

Chit fund companies who started their business by having a secret understanding with the administration fled away with their entire loot of common peoples money.

The company was first raided in 2011. Chief Minister Manik Sarkar promoted Rose Valley through various speeches, even inaugurated Rose Valley Park in Amtali in 2008.

It is to be mentioned here that earlier, two kingpins Rose Valley Director Ashok Saha and Branch Manager Anupam Bhattacharjee were also arrested for collecting money without any valid permission from RBI or SEBI.

According to official figures, the Rose Valley had collected Rs 196 crore during the past three years, out of which an amount of Rs 86 crore has been returned on maturity. The Rose Valley authorities could not give any explanation where the remaining money is.

The Kolkata based chit fund company has several branch offices in West Bengal while over twelve thousand agents are working in the ‘down line’.

India's market regulator, Securities and Exchange Board of India (SEBI), had earlier banned the Kolkata-based Rose Valley and several other non-banking financial companies (NBFCs) from accepting deposits from the public.

However, Special Investigation Team has to submit the fresh affidavit over the chit fund scam case by June 30, including all the details of immovable and movable property of Managing Director of the companies