IPICOL's ex-GM convicted in disproportionate asset case

A Special CBI Court here today convicted a former general manager of the state-owned Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) in a disproportionate assets case.
A case was registered under section 13(2) (read with 13(1) (e) of the Prevention of Corruption Act) and chargesheet filed against Jogendra Charan Nayak, ex-general manager of IPICOL, Bhubaneswar, for possession of disproportionate assets.
The case had been under trial in the Court of the Special Judge, Special Court, Bhubaneswar since 1997.
The Special Court in its judgment today held the IPICOL the ex-general manager guilty of the charge of acquiring disproportionate assets to the tune of Rs 4,03,732 before convicting and sentencing him to undergo a rigorous imprisonment for 20 months, an official release issued by the vigilance department said.

He was also directed to pay a fine of Rs 40,300, in default of payment of fine to undergo rigorous imprisonment for 2 months more for the offence u/s 13(2) r/w 13(1)(e) P.C. Act, the official said.
Nayak was not available for comment.