No Bail for Hi-Tech Directors in Supreme Court

The Supreme Court has stunned the Hi-Tech builders by rejecting the bail plea of their Directors and putting forth tough conditions if they wish to avail the bail. The apex court has asked the Hi-Tech builders to provide land to all customers within two months and then come to the court for bail.

Hi-TechHi-Tech Group MD Tirupati Panigrahi and Directors Tirupati Choudhury and Madhusudan Panigrahi have been in the jail since December 2012 when the ‘land scam’ first broke out.

On earlier occasions, the Supreme Court had asked the Group to deposit Rs 315 crore first before seeking bail, but the real estate firm failed to do so. Now, the court has asked the Directors to provide land to all ‘duped’ customers – either existing land or by purchase – so that their bail plea could be considered.

The Economic Offence Wing of the Odisha Crime Branch, has put the estimated fraud by Hi-Tech Group at Rs 315 crore. More than 1,000 people have filed complaint against the group.

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