jay shah 14th Jul

The Economic Offences Wing (EOW) Odisha’s Crime Branch on Friday arrested Rohit Kumar Saraf, Joint MD of metal firm Ferro Alloys CorporationBSE -1.40 % Limited of the FACOR Group. Saraf was arrested from Jhunjhunu in Rajasthan along with Sajjan K Surekha, who was arrested in Kolkata, in connection with a case of land fraud near Pipilli in Puri district of Odisha.
FACOR is a leading producer of Ferro Alloys in the country with its own mines. But the case relates to Lingaraj Infrastructure Private Ltd a real estate company, registered in November of 2006, that Saraf and Surekha are co-owners of. ET could not verify any cross-holdings or other associations of this firm with FACOR at the time of going to press.
The case relates to “a valuable piece of land” of about 6.17 acres in Odisha’s Pipili district according to the police. Between 2003 and 2006 a Berhampur based company, Seven Hills Estate had sold this property to about 200 people under a plotting scheme. The new owners however had found it difficult to get the land mutated and registered in their names despite knocking on ever door.
In 2009 Seven Hills Estate sold the same land to Saraf’s firm. “Lingaraj applied for transfer of land deeds in its name in 2011. And that was executed in lightning speed, despite the pending application of the 200 odd ordinary citizens waiting to take possession of their land,” said an official of the EOW. After Seven Hills and Lingaraj ignored their objections, the original buyers filed an FIR with the EOW in September. M S Srinivas, MD of Seven Hills had been arrested last month, Surekha and Saraf were arrested today, according to police.



http://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/facor-joint-md-rohit-kumar-saraf-arrested-in-land-fraud-case/articleshow/55251053.cms

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Prachi Sharma 7th Apr

A group of persons on Wednesday (Oct 5) lodged a complaint with the Economic Offence Wing (EOW) here alleging that Seven Hills Sands, a real estate firm, duped them of crores of rupees. The complainants alleged that the company promised them single room flats in a housing project in Puri, but reneged on the deal after collecting money from them.
"I had paid Rs 23 lakh to the company in 2012. I am yet to get possession of my flat," said Bhabani Prasad Dash, a duped investor. Dash said the company lured the investors by floating an attractive scheme. "After we paid the entire amount, the company did not give possession of our flat and told us that it will put our houses on rent and give us Rs 18,000 for it. We received the rent for nearly a year," he said, adding, "Later the company sold some of the flat to others."

EOW said the charges are being verified. The company's chief was arrested recently by Puri police in connection with another fraud, said an EOW officer.

http://www.mirrornow.in/property/news/focus/bhubaneswar-buyers-file-complaint-against-seven-hills-sands/30637

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Flat buyers duped by realtor

Newsviews Real estate 12th Nov

TNN | Updated: Oct 6, 2016, 07.27 AM IST

Bhubaneswar: A group of persons on Wednesday lodged a complaint with the Economic Offence Wing (EOW) here alleging that Seven Hills Sands, a real estate firm, duped them of crores of rupees. The complainants alleged that the company promised them single room flats in a housing project in Puri, but reneged on the deal after collecting money from them.
"I had paid Rs 23 lakh to the company in 2012. I am yet to get possession of my flat," said Bhabani Prasad Dash, a duped investor.

Dash said the company lured the investors by floating an attractive scheme. "After we paid the entire amount, the company did not give possession of our flat and told us that it will put our houses on rent and give us Rs 18,000 for it. We received the rent for nearly a year," he said, adding, "Later the company sold some of the flat to others."
EOW said the charges are being verified. The company's chief was arrested recently by Puri police in connection with another fraud, said an EOW officer.

http://timesofindia.indiatimes.com/city/bhubaneswar/Flat-buyers-duped-by-realtor/articleshow/54707600.cms

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