Court approached to attach seized assets of Hi-Tech Grp of Cos

The Cuttack district administration, which has been appointed the receiver of confiscated properties of various chit fund companies, has approached a special court here seeking an order to sell attached properties of Hi-Tech Group of Companies.
The Company is now entangled in land fraud cases.
Additional District Magistrate (ADM) Raghuram Aiyer has filed a petition before the special court praying for attachment of more than 55 acres of land belonging to the High-Tech Group of Companies.
The Company's plots located in Puri, Pipili and Bhubaneswar are estimated to be worth over Rs 4.5 crore, special public prosecutor Subrat Mohanty said.

The state government had in November last year ordered confiscation properties of the Company besides the frozen bank accounts.
The Cuttack district administration had in January this year approached the chit fund court to allow it to sell the properties of the company-run educational institutions including medical and dental colleges.
The court has issued notices to the company asking it to file counter affidavits, Mohanty said, adding hearing will commence immediately after the counters are filed.