Odisha Land Fraud: Hi-Tech Group Chief Deposits Rs. 3.5 Crore In Supreme Court

New Delhi/Bhubaneswar; Dec.1: Hi-Tech Group's chairman Tirupati Panigrahi, on Tuesday deposited Rs 3.5 crore in the Supreme Court. 

Panigrahi had deposited Rs 18 crore in July this year. So far, he has deposited Rs 41.5 crore.

On February 21, 2014, the apex court granted him conditional bail and asked him to deposit Rs 63.5 crores, to be refunded to duped land buyers.

On the other hand, the Crime Branch informed the court that it would submit the probe report within a week.

On December 25, 2012, the State probe agency had arrested Panigrahi and Hi-Tech Group directors Tirupati Choudhury and Madhusudan Panigrahi for allegedly cheating land buyers by over Rs 315 crores.

Earlier Panigrahi was asked to deposit the entire fund money in three weeks from the date of getting bail. This January, the EOW moved the apex court, seeking rejection of his conditional bail as he failed to deposit the entire money.

CB source said Panigrahi's company did not have adequate land bank, but collected around Rs 315 crore from hundreds of people between 2009 and 2012 with the false promise of giving them plots. EOW also found the accused diverted the public money in his other businesses illegally. 

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