Chit fund Rose Valley office raided in Sikkim | india | Hindustan Times
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Chit fund Rose Valley office raided in Sikkim

india Updated: May 05, 2013 10:55 IST

The office a Kolkata-based chit fund company Rose Valley was raided by a team of policemen on Saturday 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 Gangtok, the police said.