₹515.31 crore handed over for restitution to Rose Valley Ponzi scheme investors
Union Minister of State for Finance Pankaj Chaudhary on 12 April 2025 handed over ₹515.31 crore to the Asset Disposal Committee headed by Justice D.K. Seth (Retd.) for restitution to legitimate investors of the Rose Valley group's Ponzi scheme.
Summary
Union Minister of State for Finance Pankaj Chaudhary on 12 April 2025 handed over ₹515.31 crore to Justice D.K. Seth (Retd.), Chairman of the Asset Disposal Committee, for restitution to legitimate investors of the Rose Valley Ponzi scheme. The amount, attached by the Enforcement Directorate (ED) between 2015 and 2017 after tracing 2,987 bank accounts, is expected to benefit about 7.5 lakh victims out of 31 lakh claims received. Earlier, ₹22 crore had been restored to 32,319 investors. ED Director Rahul Navin was present.
Key facts
- Amount handed over
- ₹515.31 crore
- Recipient
- Asset Disposal Committee, Chairman Justice D.K. Seth (Retd.)
- Handed over by
- MoS Finance Pankaj Chaudhary
- Expected beneficiaries
- about 7.5 lakh victims (of 31 lakh claims)
- Attachment
- by ED in 2015–17; 2,987 bank accounts traced
- Earlier restitution
- ₹22 crore to 32,319 investors
Practice MCQs 3 questions
On 12 April 2025, ₹515.31 crore was handed over for restitution to investors of which Ponzi scheme?
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Correct answer: B — Rose Valley
Rose Valley: the amount was handed to the Asset Disposal Committee headed by Justice D.K. Seth (Retd.).
Who chairs the Asset Disposal Committee that received ₹515.31 crore for Rose Valley investors?
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Correct answer: A — Justice D.K. Seth (Retd.)
Justice D.K. Seth (Retd.) is the Chairman; Rahul Navin, the ED Director, attended the handover.
Consider the following statements about the Rose Valley restitution of April 2025: 1. The amount was attached by the Enforcement Directorate between 2015 and 2017. 2. It is expected to benefit about 31 lakh victims. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. ED attached the amount in 2015–17; about 7.5 lakh victims are expected to benefit out of 31 lakh claims received.