Odisha Police EOW Arrests BJD Leader in Rs 12.42 Crore Real Estate Fraud
The Economic Offences Wing (EOW) of Odisha Police has arrested a Biju Janata Dal (BJD) leader, Dillip Kumar Nayak, for allegedly defrauding Bijay Kumar Rout of Rs 12.42 crore in a real estate investment scheme.
EowBjdReal EstateFraudOdishaReal Estate NewsSep 21, 2025
The accused, Dillip Kumar Nayak, hails from Jhanjiri Mangala, which falls under the jurisdiction of the Badambadi police station in Cuttack. Notably, Dillip had contested the 2024 Assembly elections from the Nimapara constituency as a BJD candidate, running against Deputy Chief Minister Pravati Parida.
The complainant, Bijay Kumar Rout, initially lodged a complaint at the Badambadi Police Station. The case was subsequently taken over by the EOW, which registered a formal case on September 19. Bijay alleged that Dillip cheated him by inducing him to enter into a joint real estate business and to invest in land purchases through him.
During the investigation, the EOW discovered that between 2015 and 2017, Dillip Nayak had taken Rs 3 crore from Bijay on different dates, purportedly for investment in the real estate business. The total amount defrauded from Bijay Kumar Rout is estimated at Rs 12.42 crore, making this one of the largest fraud cases in recent years in Odisha.
The EOW's swift action in this high-profile case has been praised by the public and authorities alike, highlighting the growing importance of stringent measures to combat financial crimes in the state. The arrest of Dillip Kumar Nayak is expected to send a strong message to potential fraudsters and reassure investors in the real estate sector.
The BJD, one of the leading political parties in Odisha, has been proactive in addressing such issues. The party's leadership has expressed their commitment to ensuring transparency and accountability, stating that they will not tolerate any form of misconduct by their members. This case underscores the need for stringent background checks and continuous vigilance to prevent such fraudulent activities.
As the investigation continues, the EOW is expected to delve deeper into the financial transactions and networks involved in this fraud. The authorities are also exploring the possibility of other victims and the extent of the accused's operations in the real estate market.
The arrest of Dillip Kumar Nayak is a significant step towards maintaining the integrity of the real estate market and ensuring that investors can trust the deals they enter into. It also serves as a reminder for individuals to be cautious and verify the credentials of those they choose to do business with, especially in high-stakes investments.
Frequently Asked Questions
Who was arrested by the EOW in the Rs 12.42 crore fraud case?
Dillip Kumar Nayak, a Biju Janata Dal (BJD) leader, was arrested by the Economic Offences Wing (EOW) of Odisha Police.
What was the alleged fraud about?
The accused, Dillip Kumar Nayak, allegedly duped Bijay Kumar Rout of Rs 12.42 crore by inducing him to invest in a joint real estate business and land purchases in Bhubaneswar and Cuttack.
When did the complainant initially lodge the complaint?
The complainant, Bijay Kumar Rout, initially lodged the complaint at the Badambadi Police Station, which was later taken over by the EOW.
How much money was taken from the complainant between 2015 and 2017?
Between 2015 and 2017, Dillip Kumar Nayak took Rs 3 crore from Bijay Kumar Rout on different dates, purportedly for investment in the real estate business.
What is the significance of this arrest?
The arrest of Dillip Kumar Nayak is significant as it sends a strong message against financial crimes and reassures investors in the real estate sector about the authorities' commitment to maintaining market integrity.
Related News Articles
7 Lucrative Passive Income Streams to Achieve Financial Freedom
Diversify your income streams with these 7 passive income strategies to secure your financial future.
Shinryo Corp Acquires GMP Technical Solutions, Strengthening Clean Room Partition Market Presence
Shinryo Corp has acquired GMP Technical Solutions, a clean room partition maker, at an equity valuation of Rs 185 crores, expanding its presence in the semiconductor assembly and manufacturing industry.
Kolte-Patil Developers Shares Plummet to 52-Week Low After Disappointing Q1 Results
The real estate developer's weak Q1FY25 results led to a 4% drop in share price, hitting a fresh 52-week low of Rs 357 per share.
The High Stakes of Bringing a Mythical Tale to Life: Sohum Shah's Tumbbad Journey
Sohum Shah's determination to bring the mythical tale of Tumbbad to life led him to make a bold decision - selling off his property to finance the film.
Godrej Properties Reports Robust Rs 5,200 Crore Bookings in Q2 FY25
Godrej Properties shares are in the limelight after the company reported impressive bookings of Rs 5,200 crore in the second quarter of FY25. The robust sales were driven by strong demand from new project launches in the National Capital Region (NCR) and
ARE Stock Hits 52-Week Low of $96.31 Amid Market Fluctuations
In a tough real estate market, Alexandria Real Estate Equities (NYSE:ARE) has seen its stock price hit a 52-week low, dropping to $96.31.