Ferro Alloys Corporation joint MD held for land scam

Crime Branch officials said Rohit Saraf, joint MD of Uttar Pradesh-headquartered Ferro Alloys Corporation, and company official Sajjan Kumar Sureka were arrested Thursday night for their roles in the land fraud.

By: Express News Service | Bhubaneswar | Published:November 5, 2016 4:57 am

THE ECONOMIC Offences Wing of the Odisha Crime Branch has arrested the joint managing director of Ferro Alloys Corporation Ltd, one of the country’s leading ferro-alloys company, over his involvement in an alleged land scam.

Crime Branch officials said Rohit Saraf, joint MD of Uttar Pradesh-headquartered Ferro Alloys Corporation, and company official Sajjan Kumar Sureka were arrested Thursday night for their roles in the land fraud. They were arrested under Sections 467, 468, 471, 420,120-B of IPC and Section 6 of Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.

Saraf was arrested from Jhunjhunu in Rajasthan and Sureka from Kolkata. Both allegedly sold 6.17 acre of land in Puri district twice in a fraudulent manner between 2003 and 2009. The company sold part of this land to about 200 people in a plotting scheme between 2003 and 2006. However, due to technical reasons mutation of the land could not be done in favour of the buyers.

Taking advantage of the situation, the same land was purchased by Lingaraj Infrastructure Pvt. Ltd. through a power of attorney holder of Seven Hills Estates Ltd in 2009.