FACOR joint Managing Director among two held for land fraud

The land was sold by Seven Hills to about 200 persons as part of a plotted scheme between 2003 and 2006, but was again sold off to Lingaraj Infrastructure.

BHUBANESWAR: The Economic Offences Wing (EOW) of State Government has arrested Rohit Saraf and Sajjan Sureka, both directors of Lingaraj Infrastructure Ltd, for purchasing a 6.17 acre disputed land from Seven Hills Estates.

The land was sold by Seven Hills to about 200 persons as part of a plotted scheme between 2003 and 2006, but was again sold off to Lingaraj Infrastructure. Both Saraf and Sureka were allegedly aware of the previous deal which was entangled in controversy but went ahead and bought it.

After a complaint was lodged, Saraf was arrested from Rajasthan's Nawalgarh on Thursday while Sureka was rounded up from Kolkata. Saraf also happens to be the Joint MD of FACOR.

MS Srinivas, MD of Seven Hills, was arrested in September after a complaint by investors in connection with the fraudulent deal, Special DG, EOW BK Sharma said.

The EOW sources said the land in question, located in Pipili tehsil, was sold twice. In the first instance, the 200-off buyers who had paid for plots to Seven Hills Estates were in for a rude surprise when they went to the revenue administration for mutation.

Since it was 'chaka' land, its fragmentation was not allowed under the revenue norms. However, Srinivas had allegedly sold them through plotted scheme but the individual buyers could not mutate the same in their names given the nature of the land.

Later in 2009, Saraf and Sureka bought the same piece of land from a power of attorney holder of Seven Hills. EOW said they were aware of the past fraud which made them accomplices in the crime.

A case under IPC and Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011 has been registered.

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