EOW Arrests OCCL Manager For Misappropriation Of Funds

Bhubaneswar: The Economic Offences Wing (EOW) on Wednesday arrested Biswajit Biswal, senior manager, civil office of the Odisha Construction Corporation Limited (OCCL) for allegedly misappropriating funds to the tune of Rs 3.10 crore. The money was entrusted to him for execution of a project work.

A case has been registered based on the report of the company secretary of OCCL, Bibhuti Bhusan Sahoo. The accused is being sent to the SDJM Court in Bhubaneswar.

Investigation revealed that IDCO had entrusted the construction of the internal road of Info Valley, Bhubaneswar was entrusted to OCCL last year. The agreement value of the work was Rs 12.90 crore and the work was to be completed by April 21 this year. Biswal was authorised to sign an agreement and complete all other formalities in respect of the work on behalf of OCCL. He was also given charge of this work by the managing director of OCCL. Accounts were opened in State Bank of India, Priyadarshini Market, Bhubaneswar and ICICI Bank in the name of M/s OCC Limited, and the accused was given the authority to operate them. As per requisition of the accused, OCCL had transferred an amount of Rs 3.15 crore for execution of the work into the account.

However, Biswajit allegedly diverted Rs 3.10 crore to other accounts, leaving a balance of Rs 5 lakh only in violation of the rules/guidelines. He also failed to submit any utilisation certificate and voucher for diverting the amount.

A departmental inquiry conducted by OCCL also confirmed the allegations.