The officer has been sentenced to four years rigorous imprisonment and a fine of Rs 25 lakh imposed on him, a CBI spokesperson said.
Garg, the then Regional Director (Northern Region), Anti Adulteration Cell, Ministry of Petroleum and four others have been convicted in the case, she said.
"Atul Jindal has been sentenced to four years RI with fine of Rs two lakh; Suman Sarin to four years RI with fine of Rs two lakh; Swami Saran Garg to two years RI with fine of Rs two lakh and Rajiv Garg to four years RI with fine of Rs two lakh," she said.
"The money had been given by the accused to the businessman for getting it changed into higher denomination of currency notes. The subsequent searches carried out by CBI had resulted in detection of cash and assets worth crores," she said.
The spokesperson said after thorough investigation, CBI had filed a chargesheet on July 28, 2006 against Garg for possession of disproportionate assets worth Rs 3.36 crore (approx) during the period of April 01, 1999 to April 16, 2004.
"It was further alleged that the said officer had acquired huge assets during a short period from January 1999 to April 2004. These included a plot in Panchkula (Haryana); two flats in Vasant Kunj and one flat in Maya Enclave, Hari Nagar (Delhi). Movable assets consisting of huge cash as well as Bonds, shares, FDRs and bank balance in crores were also unearthed," she said.