As per the directions of the Supreme Court, builder Tirupati Panigrahi, chairman of the Hi-Tech Group, on Friday deposited the remaining amount of money with the Apex court to satisfy his bail condition.

He deposited of Rs13, 05, 49, 227 with the court, following which his bail remains in force.

 “I express my regret for the inconvenience caused to the investors. I have (Now) deposited the full amount as directed by the court. The court would look into the matter on how the investors’ will get back their money,” Panigrahi said.

On March 18 this year, the Supreme Court had directed Panigrahi to deposit a total amount of Rs63.55 crore within four weeks for refund to people who paid money but did not get the land promised to them by his company. In the case of not conforming to the court order, it would cancel the conditional bail granted to Panigrah, the court had said.

The, on February 21, 2014, had granted conditional bail to Panigrahi and directed him to deposit Rs63.5 crore. Earlier, Panigrahi had deposited Rs20 crore, Rs18 crore, Rs9 crore and Rs3.5 in four installments.

The Economic Offences Wing (EoW) of the State Crime Branch had arrested Panigrahi and his two relatives and directors of the Hi-Tech Group  Tirupati Choudhury and Madhusudan Panigrahi on December 25, 2012 for reneging on the promise of providing residential plots to people after taking money from them in 2009.

The probe by the EOW had revealed that the Hi-tech Group owed over Rs315.96 crore to the investors.

The Group had received money from 17,181 investors with a promise of providing them residential plots. As many as 16,901 investors are yet to get land. The Hi-Tech Group owns real estate firms, two private medical colleges, and several other professional educational institutes at different places of Odisha.