Bhubaneswar: The OPID Court in Cuttack has confirmed the attachment of property of more than Rs 2 crore of a real estate company in a multi-crore land fraud case.
The Economic Offences Wing (EOW) of Odisha Police on Friday said the Designated Court confirmed the attachment of the property of M/s Surya Nirman Resources (P) Ltd and its Directors on October 17 for cheating investors.
The court directed competent authority i.e. ADM-cum- Competent Authority under OPID Act, Cuttack, to sell the immovable properties through Public auction for equitable distribution of the proceeds among the investors.
Earlier the properties were attached by the state Finance department in April 2018 after an Ad-interim proposal for attachment of the landed properties worth Rs.2,07,85,349 was submitted by EOW in March 2018 under the provision of Sec.3 of OPID Act to the Finance Department.
The EOW swung into action after one, Bidhu Bhusan Mohanty, in a complainant alleged that M/s Surya Nirman Resources (P) Ltd. and its Managing Director Chinmay Mallick and Directors Rojalin Mallick and Biswajit Pattnaik have collected public deposits of more than Rs.2 crores under the promise of providing litigation free land at Chandaka or otherwise to pay back the invested amount with high returns through its different money back schemes.
Subsequently, the company neither provided the land nor returned the promised amount to the Investors and misappropriated the amount.
During 2010-15, the Directors of the Company collected more than Rs 2 crores from over 100 people by floating different schemes without any authority for providing litigation-free land at Chandaka.
After the unauthorized collection of more than Rs.2 crores from the investors, the company failed to provide land to the investors and also to return the invested amount.
During the investigation, the EOW detected Ac.17.468 Dec. of landed property at Krushna Nagar, Chandaka, Kantabada under Khordha District and Kujanga and Padampur under Jagatsinghpur District in the name of the company and its Directors and submitted the proposal to the Finance department for its attachment.
