Real estate fraud: Lookout notice against Director of Odyssa Homes and Commercials Pvt Ltd
Investigation revealed that the directors of the accused company had collected around Rs 20 crore from 42 investors between 2013 and 2016 to provide them flats at their project ‘Ganapati Homes’
Bhubaneswar: The Bureau of Immigration (BoI) on request of the Economic Offences Wing (EOW) of Odisha Police, issued a lookout circular against one of the directors of real estate company Odyssa Homes and Commercials Pvt Ltd Manoj Kumar Panda today in connection with a fraud case.
As per reports, the EOW had registered a case against the company director under relevant sections of the IPC and section 6 of the OPID Act 2011 after a TCS employee filed a police complaint accusing the directors of Odyssa Homes & Commercials Pvt Ltd (OHCPL) of duping investors to the tune of Rs 20 crore on the pretext of providing them dispute free flats in one of its apartment projects.
Investigation revealed that the directors of the accused company had collected around Rs 20 crore from 42 investors between 2013 and 2016 to provide them flats at their project ‘Ganapati Homes’ near Kalinga Studio, in front of SOS Village in Bhubaneswar. They had promised to hand over the complete flats by 2018 and necessary agreement and MOUs were also executed to that
effect. But till now, no flat has ever been allotted to any of the investors.
Rather, in order to cheat the investors, the directors of the company are intentionally lingering the process to handover the plots and in the meantime, have also resold seven flats out of them to other customers.
During probe, it was learnt that the company and its directors have also cheated
many other investors in their different projects and deliberately
made multiple transactions of the flats against which they have already received substantial
It was also found that criminal cases have been registered at different police stations and complaint cases instituted in the jurisdictional courts against the company directors. The present accused Manoj Kumar Panda was heading all affairs of OHCPL is one of the three directors. His two other counterparts Manoj Kumar Panda and Saroj Panda are absconding in order to evade the police arrest.
The MD of the company Arabindo Santra has already been arrested and is still in judicial custody.
“It is requested that anyone giving credible information leading to arrest of the
above noted accused persons will be suitably rewarded. The information can be given on the
Mobile number 8895301539. The name/details of the informer will be kept secret.
Investigation of the case is continuing,” a BoI release stated.