Hi-Tech chief deposits Rs 18 cr more in SC

Bhubaneswar: Hi-Tech group chairman Tirupati Panigrahi, who was arrested by Crime Branch on charges of land fraud in 2012, has deposited another Rs 18 crore in the Supreme Court as per the conditions for his bail.

On February 21, 2014, the apex court had granted Panigrahi bail and asked him to deposit Rs 63.5 crore, which will be returned to the duped land buyers. Till now, Panigrahi has deposited Rs 38 crore in the court.

Meanwhile, the Supreme Court has asked the Hi-Tech group chief to deposit remaining Rs 25.5 crore in next four months when the next hearing of the case will be held.

Panigrahi’s counsel Kapil Sibal informed the court that the businessman is selling the group’s educational institutions to garner money for refund of the money.

Panigrahi owns real estate firms, two private medical colleges and several professional educational institutes, under the business conglomerate Hi-Tech group, at different places of the State.