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Joint MD of FACOR in Crime Branch net

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Bhubaneswar : The Economics Offence Wing (EOW) of Odisha Crime Branch on Saturday brought the tainted  Joint Managing Director of Ferro Alloys Corporation Limited (FACOR) Rohit Kumar Saraf, and Sajjan K. Surekha , one of the company official to city after arresting them on friday night in connection with a land fraud case at Pipili in Puri district

While Saraf was arrested from Jhunjunu in Rajasthan , Sajjan was arrested from Kolkata. They were arrested under section 467,468,471,420,120-B of IPC and Section 6 of Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011, police sources said.

Meanwhile, the arrested MD who is reportedly sick after arriving at the city has been admitted to Capital Hospital.

As per the sources, a piece of land of about 6.17 acres in Pipili Tahsil of Puri district in Odisha was sold by a Berhampur based , “Seven Hills Estate” company to some 200 people under a plotting scheme between 2003 to 2006.

However, due to certain disturbances, the mutation and registration of the land on investors name could not be made.  The same land was sold for the second time to Lingaraj Infrastructure Private Limited (with Saraf and Sajjan as Directors)  in fraudulent way.

Crime Branch DG, B.K.Sharma said in spite of knowing the earlier land deal, Lingaraj went ahead with the land purchase.

Police said, during September 2016, the 200 investors had lodged an FIR against both the companies and their managing directors. DG Sharma added, after investigation the Managing Director of Seven Hills , M.S. Srinivas was arrested on September 9,2016 and is now under judicial custody.

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