THREE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.FIVE LAKH EACH TO THEN REGIONAL MANAGER; THEN GENERAL MANAGER; THEN DEVELOPMENT OFFICER ALL OF NICL AND AN AGENT FOR CAUSING LOSS TO GOVT EXCHEQUER

Press Release
New Delhi, 03.02.2017

         

         The Special Judge, CBI Cases, Pune has sentenced Shri Sanjeevkumar Amarnath Dhar, then Regional Manager of National Insurance Company Limited (NICL), Regional Office, Pune; Shri Omprakash Grover, then General Manager Head Office of NICL based in Calcutta; Smt. Sultana Samad Sheikh @ Subhangi Sadashiv Sripad, then Development Officer and Shri Abdul Samad Sheikh, then Agent of the insurance Company to undergo three years Rigorous Imprisonment with fine of Rs.Five lakh each.

        CBI registered a case on the allegations that the accused persons while working in the National Insurance Company Ltd., entered into criminal conspiracy with each other & cheated the National Insurance Company. The accused persons fraudulently claimed an alleged agency commission of Rs.36,30,000/- (approx) on a Policy taken by Maharashtra State Electricity Board Staff Welfare Fund Committee against which accused Shri Abdul Samad Sheikh received an amount of Rs.32,30,700/-. The said policy was a Direct Premium Policy and special discount of 15% was given in lieu of Agency commission and as such agency commission was not payable and thereby the accused persons caused loss to the insurance company. After investigation, a chargesheet was filed in the Designated Court.

       The Trial Court found the accused guilty and convicted them U/s 120-B r/w 420 of IPC & Section 13(2) r/w Section 13(1)(d) of P.C. Act, 1988.


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