CB seals Hi-Tech group office

Bhubaneswar: The State Crime Branch on Saturday sealed the corporate office of Hi-Tech Group in the high profile land fraud case. The investigating agency undertook the exercise keeping the investors’ interest in view, CB sources said, adding the depositors would be entitled to get some return of their invested money by liquidation if new law is enacted.

The probe agency had on December 25, 2012 arrested the chief of the company, Tirupati Panigrahi and two of his associates, Tirupati Choudhury and Madhusudan Panigrahi for allegedly duping land buyers of crores of rupees.

Currently the trio are in judicial custody after a trial court here in January rejected their bail applications.

Police have registered four cases against them for allegedly duping people of nearly Rs 315 crore through fraudulent land deals. In connection with the deals, the Crime Branch had also frozen 147 accounts in 18 banks with a deposit of nearly Rs 3 crore.

Officials said the agency had received around 800 complaints against Panigrahi, who denied the charges against him.