A court here dealing with the Odisha Protection of Interests of Depositors (OPID) Act on Friday awarded two persons, including a retired Army officer, rigorous imprisonment (RI) for five years afterfinding them guilty of duping Defence personnel.
Lt Col (Retd) Rakesh Rana, head of Sainik Welfare Organisation and Managing Director of Brookson Infra Pvt Ltd Purna Chandra Panda had collected about Rs 29 crore from several Defence personnel with a promise to give them homestead lands.
The duom however, could not provide the lands and also did not return the money to the depositors despite repeated requests. Finding no alternatives, the duped depositors had approached the Economic Offence Wing (EOW) of Odisha police with written complaints. Investigating into the cases, the police had booked Rana and Panda under Sections 420, 406 of IPC and Section 6 of OPID Act. Holding trial in the case, the OPID court convicted the duo after finding them and the company guilty of the charges.“Apart from the RI, Rana and Panda are also directed to pay a fine of Rs one lakh each.