BHUBANESWAR: The Economic Offences Wing (EOW) of Crime Branch on Thursday arrested Ashok Sundaray, a real estate firm chief, for duping people to the tune of Rs 3 crore by executing false sale deeds.
Sundaray is managing director of Arundhati Infratech Private Ltd which operates from Kalinga Vihar area of the city.
The company had floated a scheme in 2010 for a project named 'Arundhati Vihar' in Jagasara mouza under Jatni Tehsil. Attracted by the scheme, more than 250 buyers entered into agreement with the firm through Chairman Nirupama Sundaray for simplex buildings.
According to EOW, the company executed sale deeds after taking land cost and part payment for the buildings. Sundaray is believed to have collected at least Rs 3 crore from the buyers. He was supposed to complete construction of the houses within 18 to 24 months whereas in most cases, the work is yet to begin.
After the agency received complaints and investigated into the matter, it was found that Arundhati Infratech had executed several sale deeds using forged documents without even having any record of right.
The investigating agency searched the company's office at Kalinga Vihar as well as Sundaray's office from where incriminating documents were seized. The movable and immovable assets of the firm are being assessed.
Sundaray has been booked under the Odisha Protection of Interest of Depositors Act. He would be produced before a designated court at Cuttack on Friday.