Chit fund scam: 16 acre land of Golden Land Developers seized

Puri: Nearly eight months after the Economic Offences Wing (EOW) of the State government submitted a proposal seeking confiscation of the assets of Golden Land Developers Ltd, the district administration today seized about 16 acre land belonging to the company, which is charged in the multi-thousand crore chit fund scam in the state.

The move followed after it received an official communication from the Additional District Magistrate (ADM) in this regard.

Official sources said, the lands in patches are located in Dersula village under Satyabadi tehsil of the district.

In 2013, the Delhi-based firm was booked in six cases for cheating depositors to the tune of several crores of rupees. The total assets of the firm could run into Rs 100 crore. It is also one of the 43 firms under investigation by the Central Bureau of Investigation (CBI).

In its ad interim attachment proposal last year, the EOW listed 53.65 acre land the firm had acquired in Kandhamal, Bhubaneswar and Puri. Besides, its bank accounts carrying a whopping Rs 84 crore have also been included in the list apart from Rs 3.61 lakh in cash.

Sources said, the firm started operation in 2007-08 and set up branches in Kandhamal, Boudh, Ganjam and Puri districts. It mostly dealt in real estate.