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Court approached to attach Hi-Tech properties

Court approached to attach Hi-Tech properties

Cuttack: The Cuttack district administration, which has been appointed the receiver of confiscated properties of various chit fund companies, has approached a special court here seeking an order to sell attached properties of Hi-Tech Group of Companies.

Additional District Magistrate (ADM) Raghuram Aiyer has filed a petition before the special court praying for attachment of more than 55 acres of land belonging to the High-Tech Group of Companies.

Special Public Prosecutor Subrat Mohanty said that the Company’s plots located in Puri, Pipili and Bhubaneswar are estimated to be worth over Rs 4.5 crore.

The state government during  November last year had ordered confiscation of properties of the Company besides the frozen bank accounts.

The Cuttack district administration had in January this year approached the chit fund court to allow it to sell the properties of the company-run educational institutions including medical and dental colleges.

Mohanty said that the court has issued notices to the company asking it to file counter affidavits, and hearing will commence immediately after the counters are filed.

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