Baladevjew Infra MD held for Rs 5 cr fraud

The managing director of Shree Baladevjew Infrastructure private limited was arrested by Economic Offences Wing of Odisha Crime Branch on Thursday for land fraud. The officials said, the office was functioning at Phase I in Jagatpur’s New Industrial Estate.

The managing director, Durga Prasanna Mishra along with other officials collected about `5 crore from at least 200 buyers between 2011 and 2012 on the pretext of providing them flats under their Tulasi Garden project near Manguli.

However, the firm neither executed the deal nor refunded the money to the prospective buyers. One of the buyers, Priyabrata Parida lodged a complaint with the EOW and a case was registered on January 31 under Odisha Protection of Interests of Depositors (in Financial Establishments) Act. “Mishra was arrested on February 1 and produced in a court in Cuttack. Further investigation is on,” an EOW officer said.