February 25th 2025.
In a recent development, the Economic Offences Wing of the Odisha Police has apprehended a fraudulent individual who had managed to evade the authorities for almost four years. According to a senior EOW official, the accused had fled after being granted bail, but was finally caught in Ahmedabad, Gujarat. This arrest was made possible with the help of a non-bailable warrant issued by the designated court under the OPID Act in Cuttack.
The accused, identified as Manoranjan Ray, is a resident of Naugaon in Jagatsinghpur district. He was taken into custody by the police at the Ahmedabad railway station on February 22, 2022. After being brought back to Odisha, Ray was presented before the court in Cuttack on Tuesday. This arrest comes after a case was filed against him by Laxmi Narayan Mohapatra of Talcher in Angul district.
According to the case details, Ray, who was the Managing Director of several companies, including M/s Inter Occean Videsh Ltd., M/s Interoccean Retail Ltd., Realcon Ltd., M/s Alpine Fincrop Ltd., and M/s Interoccean Realcon Ltd., had illegally collected deposits from investors by making false promises of high returns. He also used fraudulent means such as issuing bonds, certificates, agreements, and money receipts to gain the trust of unsuspecting investors. It is estimated that he had duped a total of 1,061 investors for a whopping amount of Rs 1,05,54,800 between 2010 and 2016.
The police had first arrested Ray in New Delhi on October 20, 2019, during the course of their investigation. Later, they submitted a charge sheet against him and his companies. The trial for the case is currently underway in a designated court in Cuttack under the OPID Act.
In a major development, the accused was granted bail by the Odisha High Court on June 4, 2021. However, this bail came with certain conditions, including a deposit of Rs 10 lakh at the time of his release, followed by Rs 40 lakh within two months, and the remaining Rs 59,00,500 within six months after his release. As per the order, Ray had only deposited Rs 10 lakh when he was released on June 11, 2021.
However, things took a turn when the accused failed to comply with the bail conditions and absconded. Due to his non-appearance and non-compliance, the court issued a non-bailable warrant against him on July 19, 2022, as confirmed by the EOW official. This arrest marks a major success for the EOW and brings justice to the victims who were cheated by the accused's fraudulent activities.
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