The Cuttack district administration, which has been entrusted to be the receiver of confiscated and attached properties of various chit fund companies, has approached the special chit fund court here seeking an order to sell certain attached landed properties of the Hi-Tech Group of companies, which is now entangled in huge land fraud cases.
Additional District Magistrate (ADM) Raghuram Aiyer has filed the petition before the special court with a prayer for attachment of more than 55 acre of land belonging to the High-Tech Group. The group’s plots located in Puri, Pipili and Bhubaneswar are estimated to be worth over `4.5 crore, informed Special Public Prosecutor Subrat Mohanty.
It may be mentioned that the State Government in November last year had ordered confiscations of the seized properties of the group, including the frozen bank accounts. Following this, the Cuttack district administration in January this year had approached the chit fund court to sell the landed properties of the group’s educational institutions like a medical college, a dental college, a nursing school and a college.
The Special Public Prosecutor further informed that the court has already issued notices to the group seeking counters to the petitions. Hearing on these two petitions would commence immediately after the counters are filed in the court, Mohanty said.