A deputy manager of the state-run Odisha State Police Housing and Welfare Corporation Limited, who was earlier arrested by vigilance officials on charges of amassing disproportionate assets of Rs 14.87 crore, is found to have made investments of over Rs 1 crore share markets.
“Documents relating to an investment in Share Market have been recovered and seized. Invested amount (not current value) in Shares and debentures by Pratap Samal is found to be Rs.1,07,37,831.74 (over Rs 1.07 crore)”, a statement by the vigilance directorate said on Friday.
The Deputy Manager Pratap Samal, who was consequently suspended from service following his arrest under prevention of corruption act provisions, owned 25 plots, and three buildings including a 5-storey building in Bhubaneswar. The official had bank deposits of Rs 1.61 crore and paid an annual insurance premium of nearly Rs 57.72 lakh.
The detection of around Rs 15 crore assets was the highest-ever seizure of disproportionate assets by a state government official. The previous record for disproportionate assets unearthed by vigilance officials in Odisha was associated with former Indian Forest Service officer Abhay Kant Pathak. The tainted IFS officer had been found in possession of disproportionate assets worth Rs 9.35 crore.
With the latest recovery of investments in share markets, disproportionate assets amassed by Samal through corrupt and dishonest practices have shot up close to Rs 16 crore.