CUTTACK: The Presiding Officer of the Designated Court, OPID Act, Cuttack on Monday directed the Additional District Magistrate, Cuttack, who is the competent authority, to distribute Rs 63.55 crore among the land buyers duped by Hi-Tech group.

The Economic Offences Wing (EOW) of Crime Branch had arrested Managing Director of Hi-Tech Group Tirupati Panigrahi in December 2012 on charges of cheating land buyers by floating plotting schemes.

Panigrahi had deposited the amount in Supreme Court for getting bail in February 2014.

The Supreme Court had transferred the amount to the Designated Court, Cuttack in July 2017 after EOW sought permission to disburse the money among the victims of the duped land buyers.

Subsequently, Finance Department attached the amount and the competent authority filed an application before the designated court to release the amount for distribution. The designated court allowed the competent authority’s application on Monday.