Builder arrested for cheating flat buyers of Rs 1.72 crore in Bhubaneswar
Bhubaneswar: The Economic Offences Wing (EOW) arrested builder Manoj Pattnaik for allegedly duping flat buyers of approximately Rs 1.72 crore here in the city.
The accused was arrested from Bhubaneswar on Saturday in a case dated February 6, 2022 under sections 420/406/467/468/471/120-B IPC r.w Sec 6 of OPID Act.
He will be produced before the Designated Court under OPID Act, Cuttack, today.
Manoj Pattnaik, the MD of Basera Designs (P) Ltd, was arrested based on a complaint filed by the victim Jyoti Shankar Panda against the former and three others. The complaint alleged that Patnaik and his associates of the company cheated him and many others of Rs.1,15,82,550/ on pretext of providing them flats in the “Basera Fresco” project at Sijua on outskirts of Bhubaneswar city.
According to reports, Jyoti Shankar Panda and his brother Subha Shankar Panda had booked a 3BHK flat in ‘Basera Fresco’, Sijua, a project of Basera Designs (P) Ltd. for Rs.41,50,000.
Accordingly, an ‘Agreement for Acquisition of Ownership in Apartment’ was executed on April 25, 2016 with MD Manoj Pattnaik and flat No.306 was allotted to the complainant with the condition that the flat would be handed over within June 30, 2017. A Housing loan of Rs. 32 lakh was sanctioned to the complainant from Allahabad Bank, Old Station Square Branch, for the purpose, and a tripartite agreement between the bank, builder (the present accused) and the complainant. Then, the Bank released Rs.18.50 lakh through DD which was credited to the Account of “Basera Designs Pvt. Ltd.”
However, Pattnaik along with other accused persons made a conspiracy to dupe the flat buyer. Neither he handed over the flat to the complainant nor did he return the amount received from the latter. Even the accused persons did not renew the approval of BDA which should have been done after 3 years of approval. Later, they closed their office at Palasuni area and absconded after cheating many flat buyers, the EOW said in a statement today.
During investigation, the EOW found that Patnaik along with his wife Suchitra Bisoi, another director of Basera Designs and others had cheated many other gullible investors on pretext of providing them flats in their project ‘Basera Fresco’ at Sijua to the tune of approximately Rs 1.72 crore.
Many of the investors had taken loan from the Allahabad Bank, United Bank and also from other banks by executing acquisition of ownership in apartments/tripartite agreements with the present accused builder and the banks. After substantial amount of loan were disbursed to the Basera Designs (P) Ltd. on the strength of tripartite agreement, the present accused and his other associates absconded by closing down their office. Neither they handed over the flats to the investors as per the agreement nor did they return the invested amount, the EOW said.
The accused Pattnaik his wife being the MD and Director of the company have also cheated so many other investors in their different projects like “Basera Brindaban”, “Basera Impression Plus”, “Basera Harmony”, “Basera Angan” etc. Another case vide EOW PS Case No.21/2018 has also been registered against the present accused, his wife and others. The present accused is also involved in Chandrasekharpur PS Case No.428/2020, the EOW revealed.
Earlier, one accused person was arrested in the case and forwarded to the court. Many incriminating documents relating to the fraud including some forged documents have also been seized in the case.