Bhubaneswar, May 4: First ever e-auction of immoveable properties of Rose Valley, a money deposit collection company, failed to produce any results with no bidders turning up.

The properties included four flats at Utkal Signature at Pahala on Bhubaneswar outskirts and 45 decimal of land at Nilagiri in Balasore district. The auction value was Rs 3.8 crore.

The auction, which was conducted through Metal Scrap Trade Corporation Ltd, remained opened for buyers from 11am to 3pm today.

State crime branch, which was earlier probing the financial irregularities of the group in the state, had also attached assets of the Ponzi firm that included Rs 51 crore in different banks, Rs 47 lakh in cash and 15 acres in Bhubaneswar and Balasore. CBI is at present investigating the money laundering activities of the group. Sources said that a re-auction of the properties would be done shortly.

The CBI in March last year had conducted raids at company's office in Bhubaneswar. The central agency had found some photographs showing political leaders alongside the company officials. One of these photos also featured Naveen Patnaik.

The group had also allegedly donated Rs 2 lakh to Odisha chief minister's relief fund and Rs 25 lakh to the Assam chief minister's relief fund.

The preliminary charge sheet submitted by the CBI in January this year mentioned that the company had duped investors of Rs 17,000 crore in the country and Rs 450 crore in the state.

The 86-page charge sheet also mentioned 131 witnesses. The company has allegedly duped over 1.25 lakh people in the state with a promise of high interest on their investments.

The state police had registered as many as 25 cheating cases against the company in the state and had also arrested seven officials. The Calcutta-based Ponzi firm had collected investors' money through its 65 branches across the state.

The preliminary charge sheet of CBI mentioned that Gautam Kundu was the chairman of the Rose Valley Group, while its three directors were Ashok Kumar Saha, Shibamoy Dutta and Ramlal Goswami.

While Saha and Dutta are at present lodged in Jharpada jail after being arrested from Calcutta in September, Kundu is in a Calcutta jail in connection with a separate case lodged by the Enforcement Directorate. However, Goswami is yet to be arrested.