What punishments lokpal can pronounce ?

 Lokpal is competent to grant sanction for prosecution against a public servant.

The Lokpal is the first institution of its kind in independent India, established under the Lokpal and Lokayuktas Act 2013 to inquire and investigate into allegations of corruption against public functionaries who fall within the scope and ambit of the above Act.

The Functions of Lokpal are to take action against servants, investigate complaints made by a single person, take decisions against public servants, and his findings can be enforced into action. India's official representative is Lokpal.

The Lokpal may, after taking a decision under sub-section (7) on the filing of the charge-sheet, direct its Prosecution Wing or any investigating agency (including the Delhi Special Police Establishment) to initiate prosecution in the Special Court in respect of the cases investigated by the agency.

I sLok pal a court?                   

Hi Mahesh and Sudhir Ji, here is my take.

Lokpal may not be called a Court, but a quasi judicial body. The Lokpal's inquiry wing has been vested with the powers of a Civil Court. there are numerous other powers which a lokpal holds, a few of which are:

• confiscation of assets, which were retrieved from unfair means, such as corruption.
• power to direct sreach and seizure
• directory and superintendence power over CBI,

amongst the many other powers.

Furthermore, I'm attaching an article for your convenient reading.

https://www.lawyersclubindia.com/articles/lokpal-or-jokepal-5832.asp 

you said that LokPal has following paers:-

"confiscation of assets, which were retrieved from unfair means, such as corruption. power to direct sreach and seizure directory and superintendence power over CBI"

that does not make it court.