<h1>Regional party leader arrested over alleged Rs12.42 crore fraud for promised land and company formation, only Rs1 crore repaid</h1> A regional party leader was arrested by the Economic Offence Wing in connection with a police complaint alleging that the accused obtained Rs 12.42 crore from a realtor between 2015 and 2018 by promising land and business formation, but failed to deliver and repaid only Rs 1 crore; the matter stems from a November 2023 FIR. Authorities say funds were taken for multiple plots and for forming a company. Investigators have seized sale deeds, power of attorney documents and agreements of sale; the probe appears to focus on alleged fraud, cheating and related economic offences.