Bhubaneswar Builder Arrested for Allegedly Cheating 35 Buyers of ₹4 Crore

Bhubaneswar: The Economic Offences Wing (EOW) in Bhubaneswar arrested the Managing Director of the real estate firm M/s GLF Infratech Pvt Ltd on charges related to a case under Sections 420/467/468/471/120-B IPC r/w Section 6 of OPID Act, 2011. The arrest stems from a complaint filed by Anil Kumar Panda and 34 others, alleging fraudulent activities by the Managing Director of M/s GLF Infratech Pvt Ltd, a real estate firm.

The accused, Deepak Kumar Chhotray of Delanga, Puri district, is accused of promising plots in residential projects at Patrapada in Bhubaneswar to prospective buyers. After collecting substantial sums from these buyers between 2016 and 2019, Chhotray informed them that due to unavailability of land at Patrapada, they would instead be provided flats at Mouza-Gadakana. Despite the agreement, the accused failed to deliver any property to the buyers or refund their investments, amounting to Rs 12 lakhs each from 35 individuals.

Investigations revealed that Chhotray, as the MD of M/s GLF Infratech Pvt. Ltd engaged in deceptive practices by falsely committing to provide plots/flats without owning any land. The buyers, having agreed to relocate to the new project at Gadakana, were further defrauded in 2019 when Rs 12 lakhs were collected from each individual. To date, neither the promised properties nor the invested amounts have been returned.

The real estate company, along with its MD, has been accused of swindling over Rs 4 crore from unsuspecting buyers through the fabrication of false documents. The EOW’s investigation led to the seizure of incriminating documents, including money receipts and agreements, from the possession of the arrested accused.

Deepak Kumar Chhotray is set to be presented before the Designated Court under OPID in Cuttack on Thursday, where further legal proceedings will take place. This arrest marks a significant step in addressing financial fraud and protecting the interests of those who fell victim to the alleged deceitful practices of M/s GLF Infratech Pvt Ltd and its Managing Director.