Balasore: A court in Balasore district Friday ordered the attachment of properties of a firm that duped investors after promising them flats and shops.
The OPID Special Court of Judge Biswajit Das ordered the attachment of all properties of Shri Sai Infrastructure, except an ice plant, said Special Public Prosecutor Pranab Panda.
The court has been set up under the Odisha Protection of Interests of Depositors (OPID) Act. The court also ordered the public auction and equitable distribution of the money among the investors, Panda said.
Shri Sai Infrastructure had taken advances from several people in 2009, promising them to provide residential flats and shops at Fakir Mohan Golai in Balasore town.
“However, the firm did not keep its promises. It neither provided the investors flats as assured nor returned their money. The firm siphoned off over Rs3 crore from 14 investors,” said Panda.
After a few investors lodged a complaint with the Sahadevkhunta police station in 2016, the government filed a petition before the court, seeking absolute attachment of moveable and immovable properties of the firm.
PTI