Odisha court orders confiscation of assets of former IPICOL GM

Odisha Sun Times Bureau
Bhubaneswar, Jan 16:

A court in Odisha capital today directed for confiscation of movable and immovable assets to the tune of Rs 4, 36, 095 pertaining to a disproportionate assets case.

Court of Authorized officer, Special Court here today passed the final order for confiscation of property of former Industrial Promotion & Investment Corporation of Odisha Limited (IPICOL) General Manager Jogendra Charan Nayak who was earlier convicted for possessing assets disproportionate to his known sources of income.

The court ordered for confiscation of a double storied building in Bayababa Matha area, a land at Koradakanta, NSC deposits of Rs 38, 036 out of Rs 88, 900.

Nayak was convicted in October 2014, by Special Judge, Special Court, Bhubaneswar in the case registered in 1988.