Realtors dupe land buyers of Rs 15cr

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Bhubaneswar: About 250 land buyers Thursday lodged complaints with the SP of Economic Offences Wing (EOW) alleging they were cheated by a realtor and a landowner.
The victims alleged that the management of Shreya Infrastructures and owner of land, Real Value Developers (RVD), colluded to dupe land buyers of around `15 crore. Shreya Infrastructures has its registered office at Plot No-443/O in Sahid Nagar while RVD is located in Puri. According to the complaint, Shreya Infrastructures collected a huge sum from investors promising them five star beach resorts at Sree Khetra Kalinga Kutir in Sipasarubali area in Puri and Shri Balaji City at Gudiapokhari on the outskirts of Bhubaneswar.
The land at Sipasarubali originally belonged to RVD which had given the power of attorney to Himanshu Sekhar Nayak, the managing director of Shreay Infrastructures. However, recently the victims came to know that the power of attorney deed between Ramachandra Patra, the MD of RVD and Nayak was cancelled with some ulterior motive. Meanwhile, Nayak has also disappeared after closing his real estate office in the city.
The victims alleged that both Patra and Nayak had planned to flee with the customers’ money and also cancel the power of attorney agreement. They also maintained that the duo has filed civil cases against each other in court in order to delay the matter further.
They alleged that Patra had cancelled the POA without giving any notice to customers.
They have requested EOW officials to investigate the matter and seize the properties of the realtor.