Reported by Santosh Jagdev
Bhubaneswar, Feb 16:
The Economic Offences Wing (EOW) of the state Crime Branch (CB) on Sunday arrested the managing director (MD) of a city-based firm Siridi Sai Estate Private Limited (SSEPL) Prakash Chandra Panda on Saturday from Keutasahi in Kapilaprasad here for allegedly duping hundreds of customers across the state by giving them false promises of offering flats and plots, CB sources said.
Talking to the media persons here today, DIG CB Rajesh Kumar informed that this was the third such land fraud case by builders in the state.
Earlier, CB had nabbed the MD’s of Hi-Tech Group and Umamani Home Creation Private Limited in the land fraud case.
In April 2013, the CB had registered a case against Panda who hails from Durgadeipatna of Bankual under Sahid Nagar police station, following Odisha High Court’s direction in a writ petition (criminal), No.1259 of 2012, the DIG said.
He said the the accused had made wide publicity and issued brochures inviting the public to purchase plots and flats of various sizes near Cuttack, Bhubaneswar and Puri on easy instalment. He had said there were seven different projects namely Sai Enclave, Dhabaleswar Vihar, Bira Pratappur, Krushna Saranpur, Krushna Vihar, Sainagar and Bhagabati Nagar at different locations like Basuaghai, Kalarahanga, Chandanpur, Patia, (Krushnasaranpur, Singada and Barimunda), Pahala and Tankapani road mouzas/areas respectively.
Though the company did not have the required quantum of land in the above areas, it had resorted to falsehood while dealing with the prospective buyers and claimed he had transferable rights and titles over the plots on offer.
“Initial reports suggest Panda had allegedly failed to provide the plots and flats promised to the depositors, years after collecting hefty sums from them. The ‘fraud’ is worth over Rs 10 crore,” Kumar said, adding, he was running his head office at Bhubaneswar and regional offices at Soro, Bhadrak, Baripada, Chandanpur, Biramitrapur, Puri, Balasore and Cuttack.
“We have siezed two four vehicles owned by him and charged him under Sections 120 (B), 420, 406, 467, 468, 471, 34 of IPC read with section 6 of the Odisha Protection of Interests of Depositors (in Financial Establishments) Act 2011. We will forward him to the court today,” Kumar said, adding investigation is on to arrest other members of the company involved in this land fraud case.