Bhubaneswar: A special CBI court has acquitted Doaba Industrial and Trading Company Pvt Ltd (DITCO) and its former senior manager, JK Mediretta, in a misappropriation case.
The original charges, filed by the Central Bureau of Investigation (CBI) in August 1994, alleged that the firm and its executive had illegally diverted high-value metals belonging to the state-run National Aluminium Company Limited (NALCO).
DITCO was hired as the official clearing and forwarding agent for NALCO at Paradip Port between 1991 and 1993. During this tenure, the investigative agency claimed that the firm embezzled approximately 46.943 tonnes of standard aluminium ingots and 5.866 tonnes of sow ingots, valuing the missing materials at around ₹32.7 lakh. The CBI subsequently registered an FIR under Section 406 of the Indian Penal Code, which covers criminal breach of trust, accusing the firm’s Paradip branch management of fraudulent diversion.
However, presiding Special CJM (CBI) Binod Behari Sahoo ruled that the prosecution failed to substantiate its allegations or establish a clear evidentiary link to prove criminal intent. The court observed critical gaps in the prosecution’s narrative and determined that the state had grossly failed to prove its case beyond reasonable doubt.
Legal representatives for the defense successfully argued that the physical inventory discrepancies were non-criminal and lacked the requisite proof of deliberate misappropriation.
The court officially cleared DITCO, represented in the proceedings by Meghna Maji, and Mediretta, who was defended by advocate Rajesh Kumar Mishra, of all criminal charges, bringing an end to legal proceedings that had lingered for thirty-two years.