Bhubaneswar: Assets worth Rs 1.14 crore of Orissa Homes Pvt Ltd and Trisal Estates and Constructions Pvt Ltd will be auctioned to compensate the 153 investors, who were lured and duped by the firms through their different real estate schemes.
The court of additional district and sessions judge, Cuttack, gave the go-ahead to the auction under the Odisha Protection of Interests of Depositors (In Financial Establishments) Act, 2011, on Friday.
Notably, the Economic Offences Wing (EOW) of the Crime Branch had registered cases against the managing director of the real estate companies, Jagat Jiban Nayak, and two other directors, Sumanta Kumar Acharya and Sankar Prasad Panigrahi, in 2018 for allegedly misappropriating investments by depositors and attached the properties of the twin firms in December 2018.
The assets include 18.3 acre of land having a market value of Rs 1.05 crore and nine bank accounts with Rs 8.87 lakh deposits.
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