LAMPCS MD arrested in disproportionate assets case

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Sundergarh: The Managing Director of Kukuda LAMPCS (Large-sized Adivasi Multipurpose Cooperative Society) Ltd under Rajgangpur block of Sundergarh district has been arrested in a disproportionate assets case.

Acting on the allegation of possession of assets disproportionate to the known sources of income by Parikhita Sahoo, Managing Director, Kukuda LAMPCS, simultaneous house searches were conducted at 2 places today by 2 teams of Odisha Vigilance led by 3 DSsP, 4 Inspectors and other staff on the strength of Search Warrants issued by the Court of Special Judge, Vigilance, Sundergarh.

1 triple storeyed building at Bhatapada, 1 plot at Bhatapada, Rajgangpur, 1 four-wheeler, 2 two-wheelers, Bank deposits including Fixed deposits worth over Rs 16.07 Lakh, household articles worth over Rs 14.24 Lakh, Insurance deposits over Rs 8.21 Lakh, gold & silver ornaments and other movable and immovable properties, all totaling to over Rs 1.41 Crore were unearthed during the house search.

After a thorough search, inventory and further inquiry, the income, expenditure and assets of Sahoo were calculated and he was found in possession of disproportionate assets which constituted 132% of his known sources of income.

As he was found in possession of disproportionate assets, which he could not account for satisfactorily, Rourkela Vigilance P.S. Case No.2 dt.29.01.2022 was registered against him and his spouse U/s 13(2) r/w 13(1)(b)/12 Prevention of Corruption (Amendment) Act-2018.

In course of the investigation, Sahoo was arrested and forwarded to the Court of Special Judge, Vigilance, Sundergarh.

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