Odisha govt orders confiscation of Hi-Tech Group properties

Bhubaneswar: The Finance department of the Odisha government today ordered the confiscation of properties -land, building, bank accounts - of Hi-Tech Group of Companies seized in connection with land fraud.

The total land to be seized is up to the tune of 146.131 acre. The land which have been ordered for confiscation include the Hi-Tech Medical College in Pandara, Dental College, Nursing school, college & hospital, Physiotherapy college, corporate office at Sahid Nagar, and several project lands belonging to the Group in Sundarpada area.

Two bank accounts containing funds worth over Rs 2 crore will also be confiscated.

According to sources, the total cost of the properties could be over Rs 150 crore.

Also Read: Fresh fraud case filed in EOW against Hi-Tech boss

On the other hand, Rs 63 crore deposited by the Group with the Supreme Court has been transferred to the Special Chit Fund Court.

"I have not received any notice or show-cause regarding the confiscation. It is not apt for me to comment on this," said Hi-Tech group MD, MD Tirupati Panigrahi.

Notably, the Economic Offences Wing (EOW) of the Odisha Crime Branch had seized the properties of the Group and recommended confiscation. There are a total of 5 cases in EOW against 3 persons of the Hi-Tech group.