HC rejects realtor's bail
Aug 01, 2013
Source : The Times of India

 

CUTTACK: The Orissa high court on Tuesday rejected the bail application of realtor Tirupati Panigrahi and two of his associates, who were arrested in December last year for allegedly duping land buyers of crores of rupees.

Justice B N Mohapatra rejected the bail pleas on the ground that the probe into the case was not yet complete, a government counsel said. The Crime Branch had arrested Panigrahi, chairman of Hi-tech group of companies, and his two employees, Tirupati Choudhary and Madhusudan Panigrahi on December 25, following complaints from land buyers and investors.

This is for the second time that the high court rejected the bail petitions of Panigrahi and his associates. The single judge division bench in April had denied them bail, considering the magnitude of fraud and the large number of people duped by the company. Over 1,000 complaints were registered against Panigrahi for duping people of over Rs 315 crores through fraudulent land deals.

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