The Central Bureau of Investigation( CBI) has filed an FIR against Nalini Rao, a senior divisional manager at the Oriental Insurance Company (OIC), Bangalore,for allegedly abusing her official position by colluding with dummy agents for misappropriating commission money.
The CBI has filed a criminal case against Rao on May 31 at the city civil & Sessions Judge & Principal Special Judge for CBI Cases,Bangalore.
The CBI has has alleged that prima facie information available with the investigative agency 'reveal that Rao was in.connivance with the two dummy agents of OIC and had abused her official position by doing business for the OIC and obtained wrongful gain for herself and thereby cheated the OIC
Rao has committed offences of criminal conspiracy, cheating and criminal misconduct by public servant which discloses commission of cognizable offences u/s 120-B r/w 420 IPC and Sec. 13(2) r/w Sec 13 (1)(d) of the Prevention of Corruption Act, 1988 by the accused, said CBI in its FIR.
Rao has been divested of all her official responsibilities and has been shifted to OIC’s Bangalore regional office without any specific duties after the CBI has filed the FIR.
Senior officials at its OIC's New Delhi head office have confirmed the development and have said the company is waiting for further investigation by the CBI and would take appropriate action against Rao at the right time.
The FIR further says that the CBI received reliable information that Rao was fraudulently doing the business for the OIC in the names of the dummy agents-Asha N.R. & Geetha Suvarna-and availing the commission / incentives in the names of these two agents credited in the respective SB Accounts and withdrawing the cash through her father K. Krishna Murthy Rao who had two separate joint bank accounts with the two agents.
Providing the modus operandi of the fraudulent deals, the FIR elaborated that Rao herself was procuring the business for the company and but was including the names of Asha and Geetha in the insurance policies of OIC, issued to the clients,so as to avail, the commission / incentives fraudulently from the company.
As per the conduct, discipline & Appeal Rules, 2014 of the OIC,1) No employee shall act as an insurance agent, nor shall he allow any member of his family to act as an insurance agent. 2) No employee shall except with the previous sanction of the Company, engage directly or indirectly any trade, business or profession and 3) No employee shall canvass in support of any business, trade, commission agency etc. owned or managed by his spouse or any other member of his family.