Post News Network
New Delhi: Hi-Tech group chairman Tirupati Panigrahi Friday deposited Rs 13,05,49,227 with the Supreme Court as the final payment to fulfil the terms and conditions for sustaining his bail. With this, his bail in the land fraud case will remain in force.
Earlier, the apex court had granted conditional bail to Panigrahi February 21, 2014 and asked him to deposit Rs 63.5 crore which will be refunded to the duped land buyers. The Hi-Tech chairman had deposited the amount in five installments.
A bench comprising of Justice Adarsh Kumar Goel and Justice SA Bobde heard the case.
The Economic Offence Wing (EOW) of the state Crime Branch had arrested Panigrahi, his relatives and directors of the company December 25, 2012 for not providing residential plots to the people after taking money from them. The EOW had registered several other cases against the group.
Panigrahi has real estate firms, two private medical colleges and several educational institutions under the business entity Hi-Tech Group at several places in the state.
