EOW Apprehends Builder For Duping Rs. 1.74 crore in Bhubaneswar

Bhubaneswar: The Economic Offences Wing (EOW) arrested a builder on the charges of duping Rs 1.72 crore on the pretext of providing flats in Bhubaneswar.

The accused was identified as Manoj Pattnaik, Managing Director (MD) of Basera Designs Pvt. Ltd.

The accused was arrested on the basis of a complaint filed by one Jyoti Shankar Panda, one of the victims. Jyoti Shankar Panda lodged a complaint against the arrested accused and three others over cheating to the tune of over Rs 1.15 crore. The complainant and others were promised flats in the “Basera Fresco” project at Sijua, Bhubaneswar.

According to sources, Jyoti Shankar and his brother Subha Shankar Panda initially booked a 3BHK flat in the said project of Basera Designs Pvt. Ltd. for Rs.41,50,000. As a result, an ‘Agreement for Acquisition of Ownership in Apartment’ was executed on April 25, 2016, with the accused Manoj Pattnaik. Flat No.306 was allotted to the complainant with the condition that the flat would be handed over by June 30, 2017.

According to EOW reports, a housing loan of Rs.32,00,000 was sanctioned to the complainant from Allahabad Bank, and a tripartite agreement was done between the bank, builder, and the complainant. Later, the Bank released Rs.18,50,000 via a demand draft which was credited to the account of Basera Designs Pvt. Ltd.

It was alleged that the accused Manoj Pattnaik along with others neither handed over the flat to the complainant. Also, he did not return the amount received from him.

“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,” said EOW.

The accused, being the Managing Director of M/s Basera Designs (P) Ltd, along with his wife Suchitra Bisoi, another Director and others have also cheated other flat buyers in a similar manner to the tune of Rs.1.72 crore.