Days after a look out circular was issued, The Economic Offences Wing (EOW), Bhubaneswar arrested Manoj Kumar Panda, one of the accused Directors of M/s Odyssa Home & Commercials Pvt. Ltd. a Real Estate company, on the charges of duping an employee of TCS and other investors to the tune of Rs 20 crore.
EOW managed to nab Panda from Annavaram area under Kakinada district with the help of Andhra Pradesh Police on October 1, 2022.
EOW team was on the trail of the accused all the way from Vishakhapatnam to Annavaram in Kakinada District of Andhra Pradesh. The team finally managed to arrest the accused Panda from a hotel near Annavaram temple where he was hiding.
The accused was frequently changing his location in every one or two days, senior EOW officials said.
On September 23, the Bureau of Immigration (BoI) had issued a look out circular against Panda on the request of EOW, Bhubaneswar.
The TCS employee, Ranjan Kumar Mohapatra and others had alleged that Directors of M/s Odyssa Homes & Commercials Pvt Ltd had duped the investors to the tune of Rs 20 crore on the pretext of providing them dispute free flats in its Apartment Project namely, ‘Ganapati Homes’ located in Sampur Mouza, Bhubaneswar near Kalinga Studio, in front of SOS Village.
Preliminary investigation revealed that the Directors of the accused company had collected around Rs 20 crore from 42 investors between 2013 and 2016 on the pretext of providing them flats. The company had promised to complete the flats by 2018.
The EOW in a release stated that necessary agreement and MOUs were also executed. However, no flat has been allotted to any of the investors.