EOW ARRESTS MANAGING DIRECTOR OF REAL ESTATE COMPANY M/s ODYSSA HOMES & COMMERCIALS PVT. LTD.IN THE MATTER OF CHEATING TO THE TUNE OF MORE THAN Rs.20 CRORES
Bureau,Odishabarta
Bhubaneswar:Economic Offences Wing, Bhubaneswar has arrested accused, Aurobinda Santara,Managing Director of M/s Odyssa Home & Commercials Pvt. Ltd. a Real Estate company Wednesday i.e. on 24.08.2022 from Nayapalli, Bhubaneswar in EOW PS Case No. 14 dated 23.08.2022 u/s
406/420/467/468/471/120 B IPC r.w. Sec. 6 of OPID Act, 2011. He is being forwarded to the court of Presiding Officer, Designated court under OPID Act, Cuttack.
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.
Investigation of the case revealed M/s Odyssa Home & Commercials Pvt. Ltd. Is incorporated with ROC, Cuttack having its registered office at Nayapalli, Bhubaneswar. Its two born Director and Managing Director are Manoj Kumar Panda and the present accused, Aurobindo Santara respectively. One Saroj Kumar Panda subsequently joined as an additional Director.
It has been ascertained that during the year 2016, the complainant came to know about the ongoing “Ganapati Homes” apartment project launched by the M/s Odyssa Home Commercials Pvt. Ltd. company and booked a 3BHK flat vide No. 31 in the 3rd Floor at the consideration cost of Rs.65 lakhs. Subsequent to booking, on 22nd January, 2016 an agreement was executed between the buyer (complainant Ranjan Kumar Mohaptra & his mother Smt. Krushna Priya Kar) and seller (M/s Odyssa Home & Commercials Pvt. Ltd. represented through Director Saroj Kumar Panda) according to which the company supposed to handover by the end of June, 2018. Subsequently, the complainant availed a housing loan for the said flat from State Bank of India, Main Branch Bhubaneswar, for which a tripartite agreement was executed in the bank, wherein the above company was represented by its Director Saroj Kumar Panda.
It was found during investigation the Directors of the accd. 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 are knowingly lingering the process to handover the plots and in the meanwhile have also resold seven flats out of them to other customers.
It was also found during investigation 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.
During investigation so many incriminating documents like agreements, money receipts etc. have been seized.
It has been ascertained that the company represented through its Directors including the present accused, Aurobindo Santara though had collected crores of rupees from the intending buyers, but failed to deposit the same in the bank, though they were supposed to do the same and thereby also had cheated the banks and misappropriated the public money.
The project is also not registered with RERA.Investigation of the case is continuing.
