Realty scams derail people’s home plans
A series of complaints were lodged against Future India Industry and Infrastructure Pvt Ltd
Feb 13, 2013
Source : Orissa Post


Bhubaneswar, Feb 12: Thinking to pay easy installments, as offered by some private companies, to get a plot or apartment in or around the city? Please revisit your plan.

A series of complaints were lodged against Future India Industry and Infrastructure Pvt Ltd with Laxmisagar police here Tuesday alleging fraud to the tune of over Rs 43 lakh. The company has been accused of duping several people on the pretext that it would provide land and houses to them.

The company floated several schemes to provide land on the city outskirts and at Argul near Jatni and on easy installments. As many as 20 complaints were lodged against the company, situated at Radhika Towers in Bomikhal here, for collecting hefty sums from the victims against the promise that never materialised.

Attracted by one such scheme, people invested over Rs 18 lakh for a period of 15 months and Rs 25 lakh for 18 months to get 1,000 sq ft of land at Argul. As per the agreement, it had promised to provide two per cent monthly rate of interest over the funds parked and return of the same in five easy installments, the complainants stated.

According to one of the complainants Aditya Jena, “I deposited Rs 4.8 lakh in August 2011 to get a plot at Argul. I received the interest money for only four months but later the company failed to provide the remaining amount. It also did not give possession of any land as per the agreement.” Similarly, another victim in the case Dr Bhawesh Chandra Rath had deposited Rs 5 lakh as per the scheme but is yet to get the money back or possession of land.

Acting on a complaint lodged by one of the investors, the police had arrested the Managing Director of the company Semant Mallick and Director Jayshree Rout in June last year for duping the investors to the tune of over Rs 3 crore through similar schemes and agreements.
The police lodged a fresh complaint against the company Tuesday and merged it with the last year’s case (No-106/12). Lately, there has been a surfeit of such fraud cases against several of realty firms like Seashore group, Artha Tatwa, Hi-Tech group, Ashore, Safex and Sai Pragati.

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