Bhubaneswar, Feb 1 (IANS): The Economic Offence Wing(EOW) of Odisha police has arrested a builder on the charges of duping 35 investors of more than Rs 4 crore on the pretext of providing the victims flats in Bhubaneswar.

The accused, Deepak Kumar Chhotray, is a resident of Delanga in Puri district.

Chhotray, the managing director of M/s GLF Infratech Pvt. Ltd, has been arrested in connection with a case registered on the basis of a complaint lodged by one Anil Kumar Panda, retired employee of NALCO.

The complainant alleged that Chhotray had collected huge amount of money from 35 persons, most of them are former employees of the central government PSU, NALCO, promising to provide landed plots and flats in the residential project of the GLF Infratech at Patrapada mauza and later at Gadakana areas of the city.

"It was found during probe that the accused Chhotray without having any land falsely promised 35 prospective buyers to provide them with plots/flats at Patrapada area of Bhubaneswar in the year 2016. Accordingly, one MoU was signed by the accused builder and the buyers," said EOW sources.

Meanwhile, accused Chhotray informed the buyers that the proposed land at Patrapada could not be arranged by the company and promised them to provide flats at its new project at Gadakana area of the city.

He collected Rs 12 lakhs each from the buyers in different installments between 2016 and 2019.

However, the accused or his company neither provided the promised flat or plot nor returned the invested amount to the buyers despite the lapse of several years.

"Even, no land has been acquired by the builder for the construction of residential flats till today. The builder Company and its MD thus cheated more than Rs 4 crores from the intending buyers by executing false documents," EOW sources added.

The EOW sleuths on Wednesday arrested Chhotray who was produced before the designated court under OPID Act at Cuttack on Thursday.