Bhubaneswar: The Economic Offences Wing, Bhubaneswar, on Thursday arrested Saroj Kumar Panda, one of the Directors of M/s Odyssa Homes & Commercials Pvt Ltd, from Jeypore in Odisha’s Koraput district for cheating Rs 9 crore in the pretext of providing people with commercial units.
A case (No.09 dated 07.03.2023) was registered at the EOW police station under Sections 420/467/468/471/120-B IPC r/w Section 6 of the OPID Act. The arrested accused was produced before the designated court under OPID, Cuttack, on Thursday.
The above-noted case was registered on the written allegation of one Kalyan Mishra of IRC Village, Bhubaneswar against the directors of M/s Odyssa Homes & Commercials Pvt Ltd for misappropriation of crores of rupees by fraudulent means by the real estate company in providing commercial units at Ashok Nagar, Bhubaneswar.
Five land owners entered into an agreement and registered power of attorney with ‘Maa Basudha Homes’, Kharvel Nagar, Bhubaneswar, represented by its proprietor Snigdha Pradhan, for the development and construction of a commercial complex during the year 2012 on sharing basis. Subsequently, Maa Basudha Homes made a collaboration agreement with M/s Odyssa Homes & Commercials Pvt Ltd, represented by its directors including the accused Saroj Kumar Panda, to develop, construct, market and accept the booking amounts for the sale of commercial units excluding the share of land owners.
During the period 2013-20, M/s Odyssa Homes & Commercials Pvt Ltd, represented by its directors, accepted deposits to the tune of around Rs 9 crore from different prospective buyers for the sale of 129 commercial units of ‘Basudha Homes Project’ but failed to hand over the units till date and also did not return the booking amounts.
It was also found that the company has made multiple transactions in respect of most of the commercial units. Again, without BDA approval, the company has constructed the third floor in the said complex and has also received booking amounts from different prospective buyers to provide the commercial units on that floor. The company has also deceived the five land owners into giving the commercial units of their share and rather has received the booking amount against their share of units also.
Two directors – Manoj Kumar Panda and Aurobinda Santara of M/s Odyssa Homes & Commercials Pvt Ltd. were arrested earlier by the EOW in connection with a case (No. 14/22) registered at the EOW police station for cheating Rs 20 crore in their Ganapati Homes Project to provide flats to different investors. Accused Manoj Kumar Panda is still in jail custody.
The arrested accused was involved in both cases i.e. EOW PS (Case No.14/22 and 09/23) and was absconding to evade arrest.
More than 10 cases are pending against M/s Odyssa Homes & Commercials Pvt Ltd and its directors in different police stations.
During the investigation, many incriminating documents pertaining to the Basudha Homes Project have been seized. Further investigation is underway.
