EOW Arrests Real Estate Firm CGM For Rs 12 Cr Fraud In Bhubaneswar

Bhubaneswar: The Economic Offences Wing (EOW) on Friday arrested chief general manager (CGM) of a real estate company on charges of duping clients on the pretext of providing plots.

The accused has been identified as Soumendra Narayan Dalabehera, a native of Damasahi in Nayagarh district. He was the CGM of M/s Z-Infra Construction Pvt Ltd.

He arrested on the basis of a complaint lodged by one Manoranjan Mishra.

In the course of investigation, EOW found that the accused along with managing director and director of the company had collected about Rs 12 crores from more than 300 people between 2010 and 2013 for providing house plots with all amenities at Kansapada near IIT, Bhubaneswar, under Jatni Tehsil at a very low price. The company, however, had not acquired required land for the purpose.

Following pressure from the purchasers, the company registered the land in the name of some of them, but there was no approach road and other amenities.

In other cases, they failed to provide plots to the investors and misappropriated the amount, the sources added.

MD Prasanna Kumar Patra and Director Rasmita Patra were earlier arrested on August 7, 2018, and January 28, 2019, respectively.