Govt attaches properties of Hi Tech Group


Bhubaneswar: Government’s actions against fraudulent firms begin to intensify as State Finance Department on Wednesday issued ad-interim attachment order in respect of properties of Hi Tech Group of Companies.

Government had decided to confiscate the properties following which proceedings for making the temporary attachment absolute would be taken and losing public would be proportionately refunded.

The properties that are to be attached for seizure included land to the extent of 146 acres for various projects of company and Hi Tech Medical College, four buildings including the corporate office of the firm here in city, 53 bank accounts with a cumulative deposit over one crore.

Notably, the Economic Offence Wing of Crime Branch lodged cases against the MD and other directors of the company for cheating crores of rupees from large number of depositors on false promise of providing plots during December 2012. After investigations, company MD Tirupati Panigrahi, other directors Tirupati Choudhury and Madhusudan Panigrahy  were arrested. They remained in custody until 2014 when the Supreme Court granted them bail after submission of guarantee of about Rs. 63 crore.


Most Popular

To Top