LOC Issued Against Real Estate Firm’s Director

Bhubaneswar: On the request of Economic Offences Wing (EOW), Bhubaneswar, Bureau of Immigration (BoI) has issued a Look out Circular against accused Manoj Kumar Panda, Director of M/s Odyssa Homes & Commercials Pvt. Ltd in connection with a case of cheating investors to the tune of Rs 20 crores on the pretext of providing them dispute free flats.

The case has been registered on the basis of the written allegation of Ranjan Kumar Mohapatra, an employee of TCS. He alleged that the Directors of M/s Odyssa Homes & Commercials Pvt. Ltd. cheated 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, it was found that the Directors of the company M/s Odyssa Home & Commercials Pvt. Ltd. during the period from 2013 to 2016 collected around Rs 20 crores from 42 investors to provide them with flats at their project ‘Ganapati Homes’ promising them to supply 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 knowingly lingering the process to handover the plots and in the meanwhile have also resold seven flats out of them to other customers.

It was also found during investigation the company and its Directors have also cheated so 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 M/s Odyssa Homes & Commercials Pvt. Ltd.

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/lands.
He is one of the three Directors of M/s Odyssa Homes & Commercials Pvt. Ltd. While the company’s MD Arabindo Santra 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.

Look Out circular is generally issued to alert immigration check posts at airports/seaports etc. to alert law enforcement agency if the wanted person tries to leave the country or arrive inside the country from abroad. The EOW has requested that anyone giving credible information leading to the 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. The investigation of the case is continuing.