Lookout Circular Issued Against Real Estate Firm Director
Bhubaneswar: A lookout circular has been issued against Director of M/s Odyssa Homes & Commercials Pvt. Ltd for his alleged involvement in house fraud scam.
The action was taken by the Bureau of Immigration on the request of the state police’s Economic Offences Wing (EOW).
The notice was issued against the Director, Manoj Kumar Panda, in EOW PS Case No.14 dt.23.08.2022 u/s 406/420/467/468/471/120-B IPC r.w. Sec. 6 of OPID Act, 2011.
The above referred case has been registered on the basis of the written allegation of Ranjan Kumar Mohapatra, an employee of TCS regarding cheating to him and many other investors to the tune of Rs.20 Crores by the Directors of M/s Odyssa Homes & Commercials Pvt. Ltd. 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.
It was found during investigation the Directors of the company M/s Odyssa Home & Commercials Pvt. Ltd. during the period from 2013 to 2016 collected around Rs.20 Cr. 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 knowingly lingering the process to handover the plots and in the meanwhile have also resold seven flats out of them to other customers.
Further, it was revealed that 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 amount.
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.
The accused Manoj Kumar Panda is one of the three Directors of M/s Odyssa Homes & Commercials Pvt. Ltd. Shri Arabindo Santra, MD of the company 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.