As per the case registered by the CBI in January 2003 on a complaint from NIACL’s Mumbai office, the accused, in conspiracy with the private persons and surveyors, had issued open marine policies in the name of a non-existing firm called Falcon Industries, Vadodara, said the release.
“The accused had submitted bogus claims about damage to the consignment and obtained payments on the basis of fake papers including invoices, FIR, documents related to transport, which resulted in a loss of Rs 6.61 lakh to NIACL,” it said.
Ahmedabad:
A special CBI court in Ahmedabad in Gujarat sentenced three New India Assurance Company Ltd (NIACL) officials to five years in jail for causing a loss of Rs 6.61 lakh to the state-run entity by clearing insurance policies in 2003 for a dubious Vadodara-based firm.
Apart from these three officials, the court handed down seven-year jail sentences to surveyor Ketan Thakkar and Lala Fida Hussain, owner of Vadodara-based firm Opthilens Exports, a CBI release said on Friday.
“The three officials who got five years in jail and were also fined Rs 70,000 are then senior divisional manager of NIACL’s Vadodara office JH Rusat, then administrative officer Pradeep Pradhan and then development officer CK Patni,” the release said.
As per the case registered by the CBI in January 2003 on a complaint from NIACL’s Mumbai office, the accused, in conspiracy with the private persons and surveyors, had issued open marine policies in the name of a non-existing firm called Falcon Industries, Vadodara, said the release.
Marine Open Declaration Policy enables you to insure all your goods in transit or shipment during the year under a single policy and the insurer need not buy individual policies for each consignment or journey.
“The accused had submitted bogus claims about damage to the consignment and obtained payments on the basis of fake papers including invoices, FIR, documents related to transport, which resulted in a loss of Rs 6.61 lakh to NIACL,” it said.
A false claim was lodged for damage to the consignment during transit from Baroda to Mumbai Port, and accused Ketan Thakkar, who surveyed and assessed the loss earlier, was again appointed as investigator and he gave a report confirming false documents as genuine.
The accused approved the claims without verifying documents, the release said, adding that a charge sheet was filed in in the case in March 2005.