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Odisha: Real estate firm director arrested for Rs 5 crore land fraud

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Bhubaneswar: The Economic Offences Wing (EOW) of the Odisha Crime Branch today arrested Shreya Infrastructure Services Pvt Ltd director Gatikrushna Dash in connection with land fraud. He was later forwarded to OPID Court in Cuttack, sources said

Dash was arrested on the basis of a complaint filed earlier against Shreya Infrastructure Services’ MD Himanshu Shekhar Nayak and other office-bearers by one Debadutta Routray of Bhubaneswar.

Earlier on January 3 this year, Himanshu Shekhar Nayak was arrested by the EOW.

Sources said over a hundred customers had deposited a sum of around Rs 5 crores between 2014 and 2015 to purchase studio apartments of Shreya Infrastructure Services at Sipasarubali in Puri. The customers had deposited Rs 9.5 lakh for each flat. Dash had executed agreements with the customers to hand over possession of the flats within three years from the date of agreement.

However, the company MD misappropriated all the deposited money and later absconded closing the office here.

Further investigation is on in this connection, said an official