GAUTAM KUNDU Vs. STATE OF C.G.

JUDGEMENT

(1.) Heard.

(2.) The facts of the case are that the petitioner was director/ Chairman of Rose Valley Group of Companies which was established by him in the year 1997 at Kolkata.

(3.) In the State of Chhattisgarh, two companies namely Rose Valley Hotel and Entertainment Ltd., and Rose Valley Real Estate Construction Ltd., started business and spread all over the State of Chhattisgarh and availed different amounts. The money was collected from different stake-holders on a promise that after certain point of time the money would be inflated with higher rate of interest. Thus with such an assurance, deposits were collected from various investors who are residents of various Districts of the State i.e., Balarampur, Kanker, Korba, Bemetara, Bilaspur, Kavardha, Jagdalpur (Distt. Bastar), Sarguja, Baikunthpur (Distt. Korea) etc. After reaching the maturity period, different investors wanted to get the money back with interest. However, when their efforts to get the money back became futile, eventually FIRs were lodged in different parts of the State by the investors.