Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Crime Branch on Monday arrested the MD of Mass Infrastructure Ltd, Pratap Kumar Biswal, from New Garia area of Kolkata for allegedly cheating customers to the tune of Rs 15 crore.
As per reports, he was produced before the Additional Chief Judicial Magistrate, 24 Pragana (South), Kolkata yesterday. On the strength of transit remand, the accused was produced today in the Ld. Designated Court, under OPID Act, Balasore.
Based on the complaint of one Sukadev Hota of Soro, the EOW had registered a case under Sections 406, 420, 467,468, 471 and 120-B of IPC r.w Section 6 of OPID Act, 2011 against Biswal & six other directors and launched a probe.
The EOW said that during the investigation, it was revealed that M/s Mass Infra Reality Ltd is registered with ROC, Kolkata during September 2010 under the Companies Act, 1956 having its registered office under Barasat Police Station, 24 Praganas in West Bengal. Subsequently, during the year-2012, it changed to Human Welfare Credit & Thrift Co-operative Society Ltd registered under Multistate Cooperative Societies Act, 2012 having its registered office in Laxmi Nagar, New Delhi and the accused Pratap Kumar Biswal was its President.
The company represented through the Managing Director (the present accused) and other Directors had allured general public with false promise of returning high rate of interest on deposits under different lucrative schemes of the company. They unauthorisedly collected huge amount from several investors and absconded from the locality after shutting down their offices, said the EOW in a press note.
