Odisha: Man held for duping over Rs 1 crore to flat owners

Bhubaneshwar (Odisha) [India], November 28 (ANI): Economic Offences Wing, Bhubaneswar on Sunday apprehended a man accused of cheating over crores of rupees to flat owners.
The accused identified as Manoj Pattnaik allegedly duped Rs 1,15,82,550 on the pretext of providing flats in their Project "Basera Fresco" at Sijua, Bhubaneswar.
A case was registered against Manoj Pattnaik on the basis of a complaint filed by one Jyoti Shankar Panda against the arrested accused and three others on the allegation of cheating to the tune of Rs 1,15,82,550 to several flat owners in Bhubaneshwar.
Officials' investigations revealed that the accused cheated the complainants by posing as a Managing Director of a company.
According to a complaint filed by Jyoti Sankar Panda and his brother Subha Shankar Panda, the complainants booked a 3BHK flat in 'Basera Fresco', Sijua, a project of Basera Designs (P) Ltd. for Rs 41,50,000 as per the allurement, with the accused posing as the Managing Director of the company and also by others associated with the company.
"Accordingly, an 'Agreement for Acquisition of Ownership in Apartment' was executed on April 25, 2016, with Manoj Pattnaik, M D of 'Basera Designs Pvt Ltd', and flat number 306 was allotted to the complainant, with the condition that the flat would be handed over within June 30, 2017. A Housing loan of Rs 32,00,000 was sanctioned to the complainants from Allahabad Bank, Old Station Square Branch, for the purpose, and a tripartite agreement between the bank, builder (Manoj Pattanik), and the complainant. Then, the Bank released Rs 18,50,000 in the shape of DD which was credited to the Account of Basera Designs Pvt. Ltd.," officials said.
"Following this, Manoj hatched a conspiracy with other accused persons and neither handed over the flat to the complainants nor did return the amount received from them. The accused persons also did not renew the approval of BDA which should have been done after 3 years of approval. The accused persons closed down their office at Palasuni, Bhubaneswar, and absconded after cheating so many investors," the economic offences wing added.
A case has been registered against the accused persons under the IPC sections 420, 406, 467, 468, 471, 120-B, and section 6 of the Odisha Protection of Interests of Depositors (OPID) act.
Further information is awaited. (ANI)