Yet another fraud case against Odisha-based Hi-Tech builders

Odisha Sun Times Bureau
Bhubaneswar, May 22:

There seems to be no end to the troubles of the Odisha-based realtor and Hi-Tech Group Chairman Tirupati Panigrahi as yet another case of duping customers has been lodged against him and one of the directors of the group here today.


According to reports, as many as 20 members of Hi-Tech Paradise Owners’ Association today moved the Economic Offences Wing (EOW) of the Crime Branch alleging that the builder has not handed them over the flats at an apartment project in Pipili as per the agreement.

The complainants filed the case against Tirupati Panigrahi and one of the directors of the group.

In a press conference held here, they alleged that they had given Rs 37 crore the company towards the construction of flats in Hi-Tech Paradise Apartment project at Uttara. The company had accepted the deposits in 2011 and had promised to deliver flats by 2014 end. As many as 311 buyers had paid almost 60% of the project cost. However, the company adopted a dilly-dallying tactics and failed to meet the deadline.

The charges were, however, refuted by the Hi-Tech Group chief.

“The buyers have defaulted on payment of instalments since 2012 owing to which the construction work has been delayed. We will meet the investors and sort out the issue soon,” Tirupati Panigrahi said.

Earlier last week, as many as 20 complainants had lodged a complaint with the EOW against Hi-Tech Estate and Promoter Pvt Ltd Director Tirupati Panigrahi and three other Directors of adopting a dilly-dallying tactics and not conforming to the agreement.

The complainants had booked flats in Hi-Tech Heaven Apartment project at Matiapada in Pipili. As per the agreements signed in 2008, the builder was to hand over the property to its customers in 2013.

Earlier on December 25, 2012, Tirupati Panigrahi was arrested by EOW for reneging on the promise of providing residential plots to people after taking money from them in 2009.

The probe by the EOW of the Crime Branch had revealed that the Hi-tech Group owed more than Rs 315.96 crore to the investors.

The Group had received money from 17,181 investors with the promise of providing them with residential plots of which 16,901 investors were yet to get the land.

The EOW had registered at least five cases again

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