**Bhubaneswar:** Accepting the petition of the Economic Offences Wing (EOW) of Odisha Crime Branch on Wednesday, the designated court in Balasore, established under the Odisha Protection of Interest of Depositors Act, granted four-day more remand of Gautam Kundu, chief Rose Valley Group of Companies languishing in jail.
The EOW on Wednesday produced Kundu in the designated court in Balasore after completion of his five-day remand.
Sources said that the EOW had appealed to the court for another five-day remand of Kundu for further interrogation in addition to his earlier five-day remand that ended on the day.
The need for the additional remand by the State probe agency is aimed at eliciting more details about the ponzi firm’s investor base in Odisha so that refund to the duped investors can be expedited.
Notably, the Cuttack-based designated court has reportedly approved earlier of the attachment proposal for bank balance to the tune of Rs 78.18 crore, two high value flats and land measuring 14.31 acres in this multi-crore scam.
