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Odisha Sun Times Bureau
Bhubaneswar, Nov 4:

The Economic Offences Wing of the Odisha Crime Branch arrested the Joint Managing Director of Ferro Alloys Corporation Ltd (FACOR) Rohit Kumar Saraf for his involvement in an alleged land fraud, police said today.

BK SHARMA

According to sources, the anti-corruption wing sleuths arrested Rohit Saraf and one of his company officials Sajjan Kumar Sureka last night for their alleged complicity in a land fraud.

While Saraf was arrested from Jhunjhunu in Rajasthan, Sureka was apprehended from Kolkata. Sureka was produced before the Designated Court in Cuttack which remanded him to judicial custody. Saraf was arrested in Nawalgarh in Rajasthan yesterday night. After his production in a local court at Nawalgarh, he is being brought to Bhubaneswar

They have been arrested under section 467, 468, 471, 420,120-B of IPC and Section 6 of Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.

The joint MD of FACOR Rohit Saraf and another accused have been arrested in connection with a land fraud, Crime Branch Special DG BK Sharma informed.

According to Crime Branch sources, a piece of land measuring Ac.6.17 decimal under Pipil Tahasil of Puri district was sold twice in a fraudulent manner. The land belonged to Seven Hills Estates Ltd. The company sold part of this land to about 200 persons in a plotting scheme between 2003 and 2006. However, due to technical reasons mutation of the land could not be done in favour of the buyers. Taking advantage of the situation, the same land was purchased by Lingara Infrastructure Pvt. Ltd. through a power of attorney holder of Seven Hills Estates Ltd in 2009.

It is alleged that the land deal in the year 2009 was result of a criminal conspiracy between arrested persons which deprived hundreds of innocent investors from their land in spite of making payments more than a decade ago. It is alleged that Lingaraj Infrastructure Pvt. Ltd. had knowledge of the earlier land deal but in spite of that it went ahead with purchase of the land in question.

In September, 2016, a group of victims approached EOW and lodged an FIR naming both companies and their Managing Directors. After investigation MS Srinivas, Managing Director of Seven Hills Estates Ltd. was arrested on September 9, 2016 and forwarded to the Court. He is in judicial custody at present.

Notably, FACOR is one of the India’s largest producers and exporters of Ferro Alloys. It has a mining complex in Bhadrak.