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Woman Realtor Arrested For Rs 12 Cr Fraud In Bhubaneswar

28 January 2019

Bikash Das

Bhubaneswar: The Economic Offences Wing (EOW) today arrested M/s Z-Infra Construction Pvt. Ltd director Rosmita Patra forwarded to the Odisha Protection of Interests of Depositors (in Financial Establishments) [OPID] Court, Cuttack.

As per a press note released, she has been arrested in connection with EOW PS Case No.17 dtd.30.07.2018 U/s 420/406/467/468/471/120-B IPC, r/w Sec.6 of the OPID Act 2011 registered on the report of one Manoranjan Mishra of Bhubaneswar in the matter of cheating the intending purchasers for providing plots at Bhubaneswar.

Investigation revealed that the accused along with Managing Director of M/s Z-Infra Construction Pvt. Ltd, IRC Village, Nayapalli, Bhubaneswar had collected about Rs 12 crores from more than 300 intending purchasers in between 2010 to 2013 for providing house plots with all amenities at Kansapada near IIT, Bhubaneswar under Jatni Tahasil at quite low price, the press note mentions.

It has also mentioned that at the time of receiving payments, the accused had the knowledge that the company has not acquired required land for selling to the investors from whom they had received payment. On pressure from the investors, the company registered the land in the name of some of them on which there is no approach road and other amenities.

It has further been mentioned, “In some cases the company had registered excess area of land to other investors knowing very well that the particular plot is not having that much area to be sold. In other cases, she along with other accused of the company had simply misappropriated the amount without registering the land. The accused and others of her company, after collecting the money, neither provided litigation free plots with approach road nor refunded the deposited amount to the investors and misappropriated the same.

“In this case accused MD Prasanna Kumar Patra (husband of the present accused) was arrested and forwarded to Court on 07.08.2018 and is in Judicial Custody,” the EOW press note said.

The investigation is in progress.

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