Latest news with #Panigrahi
New Indian Express
5 days ago
- Business
- New Indian Express
Odisha HC dismisses plea challenging public auction of flats by LIC
CUTTACK: The Orissa High Court has dismissed a petition challenging Life Insurance Corporation of India (LIC)'s public auction of flats, which were first allotted to policy holders through a draw of lots and then cancelled in 2014. In early 2014, the LIC launched 'LIC's Policy Holders' Housing Scheme' for the allotment of 75 flats at Jeevan Bima Nagar, Phase-II, Chandrasekharpur in Bhubaneswar. Policy holders could submit applications depositing Rs 1 lakh. A policy holder who was among the successful applicants after the draw of lots before cancellation of the allotments the same year had filed the petition. The petition alleged that LIC is now attempting to profit from the same flats by hiking prices to Rs 80.54 lakh from the earlier Rs 58.10 lakh, which amounts to arbitrary and exploitative conduct unbecoming of a state entity. The LIC submitted that the cancellation of allotment was compelled by the government's instruction not to register flats without record of rights (ROR). The ROR was unavailable in 2014 and was only obtained in 2024, after due mutation and reclassification of land. After obtaining legal possession and clearances, LIC reinitiated sale through public auction as required for fair disposal. Given the time lapse and cost escalation, the current pricing reflects present-day market and construction realities, it claimed. The petitioner sought direction to LIC to execute the necessary conveyance deed and transfer possession of the flat originally allotted to them in 2014. However, Justice SK Panigrahi said, 'The court cannot ignore the practical realities of urban development, land classification, and escalating construction costs. It is not open to a writ court (HC) to freeze pricing or enforce historic transactions when the statutory and legal framework has significantly changed over a decade.' 'LIC, being a public authority, is entitled to re-value and dispose of its assets in a lawful, transparent manner, and no malafide can be imputed to its decision to conduct an e-auction in 2025,' Justice Panigrahi ruled in a recent judgment. Justice Panigrahi also ruled that without a sale agreement, registration, or part-performance beyond a token application fee, no enforceable legal right vested in the petitioner. 'He had, at best, an inchoate interest that lapsed upon lawful cancellation,' the judge added.
Time of India
5 days ago
- Business
- Time of India
Odisha HC junks plea against LIC over public auction of cancelled flat allotments
CUTTACK : Orissa high court has given a clean chit to Life Insurance Corporation of India (LIC) for reinitiating, through public auction, the sale of flats which were first allotted to policyholders through a draw of lots, and subsequently cancelled in 2014. A petition was filed by a policyholder who had deposited Rs 1 lakh and was among the successful applicants in the draw of lots, before the allotments were cancelled. The petition sought HC's intervention, alleging that LIC is now attempting to profit from the same flats by hiking its cost to Rs 80.54 lakh from the earlier Rs 58.10 lakh, which amounts to arbitrary and exploitative conduct unbecoming of a state entity. While dismissing the plea, Justice S K Panigrahi said the court cannot ignore the practical realities of urban development, land classification, and escalating construction costs. "It is not open to a writ court (HC) to freeze pricing or enforce historic transactions when the statutory and legal framework has significantly changed over a decade," Justice Panigrahi stated in the judgment uploaded on May 29. He pointed out that LIC, being a public authority, is entitled to re-value and dispose of its assets in a lawful, transparent manner, and "no mala fide can be imputed to its decision to conduct an e-auction in 2025." According to case records, in early 2014, LIC had launched a housing scheme for the allotment of 75 flats at Jeevan Bima Nagar, Phase-II, Chandrasekharpur in Bhubaneswar . Policyholders could submit applications depositing Rs 1 Lakh. LIC, on its part, submitted that the cancellation of allotment was compelled by the govt's instruction not to register flats without Record of Rights (RoR). The ROR was unavailable in 2014 and was only obtained in 2024, after due mutation and reclassification of land. After obtaining legal possession and clearances, LIC reinitiated the sale through public auction as required for fair disposal. Given the time lapse and cost escalation, the current pricing reflects present-day market and construction realities, it stated. While dismissing the petition, Justice Panigrahi also ruled that without a sale agreement, registration, or part-performance beyond a token application fee, no enforceable legal right is vested in the petitioner. Justice Panigrahi further clarified that the HC does not sit to enforce broken promises, expectations, or incomplete transactions between private parties and state instrumentalities unless a public duty, statutory violation, or glaring arbitrariness is demonstrably shown.
Time of India
5 days ago
- Business
- Time of India
HC junks plea against LIC over public auction of cancelled flat allotments
Cuttack: Orissa high court has given a clean chit to Life Insurance Corporation of India (LIC) for reinitiating, through public auction, the sale of flats which were first allotted to policyholders through a draw of lots, and subsequently cancelled in 2014. A petition was filed by a policyholder who had deposited Rs 1 lakh and was among the successful applicants in the draw of lots, before the allotments were cancelled. The petition sought HC's intervention, alleging that LIC is now attempting to profit from the same flats by hiking its cost to Rs 80.54 lakh from the earlier Rs 58.10 lakh, which amounts to arbitrary and exploitative conduct unbecoming of a state entity. While dismissing the plea, Justice S K Panigrahi said the court cannot ignore the practical realities of urban development, land classification, and escalating construction costs. "It is not open to a writ court (HC) to freeze pricing or enforce historic transactions when the statutory and legal framework has significantly changed over a decade," Justice Panigrahi stated in the judgment uploaded on May 29. He pointed out that LIC, being a public authority, is entitled to re-value and dispose of its assets in a lawful, transparent manner, and "no mala fide can be imputed to its decision to conduct an e-auction in 2025." According to case records, in early 2014, LIC had launched a housing scheme for the allotment of 75 flats at Jeevan Bima Nagar, Phase-II, Chandrasekharpur in Bhubaneswar. Policyholders could submit applications depositing Rs 1 Lakh. LIC, on its part, submitted that the cancellation of allotment was compelled by the govt's instruction not to register flats without Record of Rights (RoR). The ROR was unavailable in 2014 and was only obtained in 2024, after due mutation and reclassification of land. After obtaining legal possession and clearances, LIC reinitiated the sale through public auction as required for fair disposal. Given the time lapse and cost escalation, the current pricing reflects present-day market and construction realities, it stated. While dismissing the petition, Justice Panigrahi also ruled that without a sale agreement, registration, or part-performance beyond a token application fee, no enforceable legal right is vested in the petitioner. Justice Panigrahi further clarified that the HC does not sit to enforce broken promises, expectations, or incomplete transactions between private parties and state instrumentalities unless a public duty, statutory violation, or glaring arbitrariness is demonstrably shown.
Mint
30-05-2025
- Mint
‘Threw ₹500 bundles from window': Odisha Vigilance finds ₹ ₹2.1 crore cash from Chief Engineer's residence
The Odisha Vigilance Department on Friday conducted searches at seven locations across Odisha on premises allegedly linked to the Chief Engineer of the Odisha Rural Works Division and recovered approximately ₹ 2.1 crore in cash. In the major anti-corruption crackdown, the vigilance team raided the premises linked to Baikuntha Nath Sarangi on the allegation of disproportionate asset possession. Officials recovered about ₹ 1 crore from his flat in Bhubaneswar and around ₹ 1.1 crore from his residence in Angul. The search operations are still underway, officials of the Odisha Vigilance Department said. The department also shared the details of their findings on social media. 'Today, on the allegation of possession of disp. assets by Sri Baikuntha Nath Sarangi, Chief Engineer, RW Division, Odisha, house searches are on by #Odisha #Vigilance at 7 locations. Approx ₹ 2.1 Crore cash recovered so far from his house at Bhubaneswar (1 Cr) & Angul (1.1 Cr) [sic],' the Odisha Vigilance Department said in a post on X. It also attached videos of the raid. Watch the video here: According to the Vigilance Department, Sarangi threw bundles of ₹ 500 notes from the window of his Bhubaneswar flat upon noticing the presence of the search team. Vigilance officials later recovered the cash in the presence of witnesses. The search operations and further proceedings are ongoing, the department said. In the X post, it also attached images of the cash recovered from Sarangi's residence. '8 DSsP, 12 Inspectors, 6 ASIs, and other supporting staff are conducting search on the strength of search warrants issued by Hon'ble Special Judge, Vigilance, Angul ,' it added In a separate incident, Odisha Vigilance intercepted Assistant Executive Engineer Pabitra Mohan Panigrahi of Chitrakonda Block in Malkangiri district in April. It seized cash exceeding ₹ 15 lakh, which was suspected to be ill-got. Acting on credible intelligence inputs about alleged bribe collection from contractors, a team of Odisha Vigilance officials intercepted Panigrahi near Gobindapally Chowk while he was travelling from his government residence in Chitrakonda to Bhubaneswar in a WagonR car bearing registration number OD-30-E-3096. He was reportedly taking a lift at the time. Upon interception, officials recovered ₹ 5.07 lakh in cash from Panigrahi's possession. A further search at his government quarters in Chitrakonda led to the recovery of ₹ 10 lakh more in cash. As Panigrahi failed to provide a satisfactory explanation for the seized amount, the Vigilance team confiscated the entire cash. Subsequently, searches are underway at two additional premises linked to Panigrahi from a disproportionate assets angle. He is currently being questioned about the source of the recovered funds.
Mint
30-05-2025
- Mint
‘Threw ₹500 bundles from window': Odisha Vigilance finds ₹ ₹2.1 crore cash from Chief Engineer's residence
The Odisha Vigilance Department on Friday conducted searches at seven locations across Odisha in premises allegedly linked to the Chief Engineer of the Odisha Rural Works Division and recovered approximately ₹ 2.1 crore cash. In the major anti corruption crackdown, the vigilance team raided the premises linked to Baikuntha Nath Sarangi on allegation of disputed asset possession. Officials recovered about ₹ 1 crore from his flat in Bhubaneswar and around ₹ 1.1 crore from his residence in Angul. The search operations are still underway, officials of the Odisha Vigilance Department said. The department also shared the details about their findings on social media. 'Today , on the allegation of possession of disp. assets by Sri Baikuntha Nath Sarangi, Chief Engineer, RW Division, Odisha, house searches are on by #Odisha #Vigilance at 7 locations. Approx ₹ 2.1 Crore cash recovered so far from his house at Bhubaneswar (1 Cr) & Angul (1.1 Cr) [sic],' the Odisha Vigilance Department said in a post on X. It also attached videos of the raid. Watch the video here: According to the Vigilance Department, Sarangi threw bundles of ₹ 500 notes from the window of his Bhubaneswar flat upon noticing the presence of the search team. Vigilance officials later recovered the cash in the presence of witnesses. The search operations and further proceedings are ongoing, the department said. In the X post, it also attached images of the cash recovered from Sarangi's residence. '8 DSsP, 12 Inspectors, 6 ASIs, and other supporting staff are conducting search on the strength of search warrants issued by Hon'ble Special Judge, Vigilance, Angul ,' it added In a separate incident, Odisha Vigilance intercepted Assistant Executive Engineer (AEE) Pabitra Mohan Panigrahi of Chitrakonda Block in Malkangiri district in April. It seized cash exceeding ₹ 15 lakh, which was suspected to be ill-got. Acting on credible intelligence inputs about alleged bribe collection from contractors, a team of Odisha Vigilance officials intercepted Panigrahi near Gobindapally Chowk while he was travelling from his government residence in Chitrakonda to Bhubaneswar in a WagonR car bearing registration number OD-30-E-3096. He was reportedly taking a lift at the time. Upon interception, officials recovered ₹ 5.07 lakh in cash from Panigrahi's possession. A further search at his government quarters in Chitrakonda led to the recovery of ₹ 10 lakh more in cash. As Panigrahi failed to provide a satisfactory explanation for the seized amount, the Vigilance team confiscated the entire cash. Subsequently, searches are underway at two additional premises linked to Panigrahi from a disproportionate assets (DA) angle. He is currently being questioned about the source of the recovered funds. Further investigation is in progress, and a detailed report is awaited.
