Bhubaneswar: The Economic Offences Wing, Bhubaneswar has arrested one Amaresh Chandra Panda, on charges of duping investors luring them with flats in the Capital City. A native of Nuagan under under Fategarh police limits in Nayagarh, Panda has been booked under multiple Sections of the IPC and OPID Act. He was produced before the Designated Court under OPID Act, in Cutttack on Friday.
The EOW had registered a case on the complaint of one Jyoti Shankar Panda against Panda and three others on the allegation of cheating to the tune of Rs 1.15 crore on the pretext of Providing Flats in their Project “Basera Fresco” at Sijua, in Bhubaneswar.
It has been ascertained during investigation that complainant and his brother booked a 3BHK flat in ‘Basera Fresco’, Sijua, a project of Basera Designs (P) Ltd. for Rs 41.50 lakh.
Accordingly, an ‘Agreement for Acquisition of Ownership in Apartment’ was executed on April 25, 2016, with the MD of ‘Basera Designs Pvt Ltd.’, and a flat No. 306 was allotted to the Panda . with the condition that the flat would be handed over by June 30, 2017.
A Housing loan of Rs 32 lakh was availed by Panda from Allahabad Bank here, for the purpose, and a tripartite agreement between the Bank, Builder and the complainant was also made. The Bank released Rs 18.50 lakh through a DD which was credited to the Account of “Basera Designs Pvt. Ltd.”
“Subsequently, the accused persons including the Builder by entering into a conspiracy neither handed over the Flat to Panda nor did they returned the amount. The accused persons also did not renew the approval of BDA which should have been done after 3 years of approval. The accused persons closed down their office at Palasuni, Bhubaneswar and absconded. The complainant continues to repay the loan with interest,” the EOW stated.
