Odisha: Lookout circular issued against builder in Rs 20 cr cheating case

Bhubaneswar (Odisha) [India], September 24 : A Lookout Circular has been issued against the director of a real estate company in Odisha for allegedly cheating the investors to the tune of Rs 20 crore on the pretext of providing them dispute-free flats in its apartment project, said police on Friday.
Following the request of the Economic Offence Wing (EOW), Bhubaneswar, the Bureau of Immigration (BoI) issued the circular against Manoj Kumar Panda, who is the director of Odyssa Home & Commercials Pvt. Ltd.
The EOW Bhubaneswar has registered a case against Panda under Sections 406, 420/467, 468, 471, 120-B of Indian Penal Code (IPC) r.w. Section 6 of OPID Act, 2011.
The case was registered on the basis of the written allegation of Ranjan Kumar Mohapatra, an employee of TCS regarding cheating him and many other investors to the tune of Rs 20 crores on the pretext of providing them dispute-free flats in its apartment project namely, 'Ganapati Homes' located in Sampur Mouza, Bhubaneswar near Kalinga Studio, in front of SOS Village.
During the investigation, the EOW officials found that the directors of the accused real estate company had collected around Rs 20 crore from 42 investors during the period from 2013 to 2016 with a promise to provide them flats by 2018.
"Necessary agreement and MoUs were also executed to that effect. However, till now, no flat has been allotted to any of the investors. On the other hand, they have also resold seven flats in the under-construction apartment to other customers," EOW said in a statement.
The EOW further said that directors have also cheated many other investors in their different projects and with criminal intention have deliberately made multiple transactions of the flats against which they have already received substantial amounts.
"It was also found that criminal cases have been registered at different police stations and complaint cases have been instituted in the jurisdictional courts against the directors of the company. The present accused Manoj Kumar Panda was heading all affairs of the company and has cheated so many investors in their different projects in the name of giving flats or lands," it said.
EOW said that Arabindo Santra, MD of the company has already been arrested and forwarded in the case, and he is still in judicial custody. The two other Directors Manoj Kumar Panda and Saroj Panda are absconding in order to evade the police arrest.
"Further, 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 and details of the informer will be kept secret," EOW said in a statement.
Further investigation of the case is underway.
Look Out circular is generally issued to alert immigration check posts at airports or seaports etc. to alert law enforcement agencies if the wanted person tries to leave the country or arrive inside the country from abroad.