Bhubaneswar: The Economic Offences Wing (EOW) of the state Crime Branch here Friday claimed to have arrested the managing director (MD) of a real estate firm on charges of duping a man of Rs 25.5 lakh on the pretext of providing him a flat around eight years ago.
“Prabhat Kumar Nanda, MD of M/s Raghupatee Estate and Holding Private Limited, has been taken into custody on the basis of a case (04) registered against him February 1, 2019 under Sections 406 (Criminal breach of trust) and 420 (Cheating and dishonestly inducing delivery of property) of IPC and 6 of the Odisha Protection of Interests of Depositors (in Financial Establishment) Act 2011,” a note issued by EOW read.
According to the case details, Debajyoti Dutta and Mamata Barik had deposited Rs 25.5 lakh with the firm to buy a residential flat at ‘Pristine Park’ located in Bhanpur Mouza of Cuttack in 2011-12. However, the firm neither handed over the flat nor did it refund the deposited amount.
In 2019, a duped Dutta approached the EOW which registered a case and arrested Nanda.
“Incriminating documents relating to the case have been seized during a search carried out at the residence of the accused,” added the EOW note.