Realtor arrested for cheating flat buyers of Rs 5 crore

Crime Odisha

Bhubaneswar: The Economic Offences Wing (EOW) has arrested Shreya Infrastructure Services Ltd director Gatikrushna Dash for allegedly or cheating a large number of investors of Rs 5 crore.

The company was functioning from Saheed Nagar area. It was accused of defrauding nearly 100 people of Rs 5 crore on pretext of providing flats to them in Puri. The arrest was made by the EOW while acting on a complaint lodged by one Debadutta Routray.

According to EOW, the Shreya Infrastructure Services Ltd published advertisements for studio apartment namely “Shree Kshetra Kalinga Kutira” at a cost of Rs 9.50 lakh each for unit at Sipasarubali in Puri district.

Moved by the advertisements, more than 100 customers, including one Debadutta Routray had deposited Rs 5 crore in 2014 and 2015 for the project.

And the Gatikrushna on the capacity of being the director of the company had executed agreements with the customers to hand over possession of the respective flats within three years from the date of pact. But, the company failed to provide flats to them.

But the company failed to provide the flats and Gatikrushna misappropriated the amount. When the investors approached him, he along with the managing director of the company absconded.

Earlier, EOW also arrested company MD Himanshu Sekhar Nayak in connection with the case. Further investigation is on in the case.

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