CUTTACK: The bail plea of BJD leader Dillip Kumar Nayak, who was arrested eight months ago by the EOW of the state CID-Crime Branch in connection with an alleged Rs 15 crore investment fraud case, has been rejected by the Orissa High Court.
BJD had fielded Nayak against BJP’s Pravati Parida in the last election from the Nimapara Assembly seat. He had lost to Parida, who is presently the deputy chief minister of Odisha.
Rejecting the bail petition, Justice Gourishankar Satapathy observed that the allegations against the petitioner involved serious financial deceit and that it was premature to term the dispute as civil in nature when witnesses were yet to be examined during trial.
Nayak was arrested by the EOW on September 20, 2025, on allegations of duping investors by falsely promising lucrative returns through a real-estate business venture.