Rose Valley releases cheques to investors

Durgapur, April 23: Rose Valley today started giving cheques to depositors after hundreds who had invested in several schemes made a beeline for the company’s Raniganj branch in the aftermath of the Saradha Group crisis. Those investors whose policies are yet to mature got back the cheque mentioning the principal amount. Yesterday, over 100 depositors from Raniganj town and neighbouring Jamuria had demonstrated inside the Rose Valley office, demanding their money back. The depositors had said they were worried about the money in the wake of the Saradha controversy. Those depositors whose schemes were yet to mature had been asked to come to the Raniganj Rose Valley branch today. Branch manager Jayanta Banerjee said: “We gave out 500 cheques today. All payments were made for schemes that are yet to mature. We will continue to give cheques to those who demand money.” A Rose Valley official said cheques for amounts ranging from Rs 10,000 to Rs 50,000 were given out. Several investors said they did not want to wait for their policies to mature. “We would have got the interest had we waited but we don’t want to take the risk,” an investor said. The customers expressed happiness but some of them said their fears would remain till the cheques were honoured. “I got a cheque for Rs 30,000 today, which is the principal amount I had invested in a scheme a year ago. The policy would have matured a year later but I don’t want to wait,” said a retired eastern coalfield employee. In another related development, CPM workers this morning blocked N.S. Bose Road in Raniganj after one of their party colleagues was beaten up allegedly by Trinamul Congress workers for demonstrating outside the Rose Valley office yesterday. Dilip Chatterjee, a retired Philips Carbon Black employee of Raniganj said that two years ago I had deposited Rs 50,000 in a scheme that promised double the amount in five years. “But after the Saradha group offices closed down, I became scared of losing my money. I came to know from my neighbours that the Rose Valley had agreed to return deposits. So, I came today and collected the principal amount I had deposited. I did not want to take any risk. I will be happy if I get my cheque cleared,” said Chatterjee. Depositors queued up from the morning and they rushed in as soon as the office opened at 10 am. The cheques were being distributed from the second floor office and the queue snaked out of the building on the road. At times those standing in the queue became restive and shouted why the queue was not moving. Sanyasi Badyakar, the CPM worker, was among the depositors who had demonstrated demanding their money back at the Rose Valley office yesterday. “The Trinamul workers beat me up with sticks as I took part at the demonstration,” said Badyakar. Senapati Mondal, Trinamul block president in Raniganj said, “We are not aware about any Trinamul worker beating up the CPM worker. We will inquire into it.” Uday Ghosh, officer-in-charge of Raniganj police station said that a complaint had been received and investigation has started.