Bhopal branch of Central Bureau of Investigation (CBI) registered a case of criminal conspiracy against several officials and agents of life Insurance Corporation of India (lIC) on Wednesday.
CBI Superintendent of Police (SP) Yatindra Koyal said that an FIR under Sections 120B and 420 of IPC and Sections 13(2) and 13(1), (d) of Prevention of Corruption Act, 1988, was registered against the Branch Manager In-charge of lIC’s Satellite Office at Sanwer in Indore, Assistant Branch Manager, three Assistant Administrative Officers and seven agents.
As per the FIR, the accused cheated the lIC by issuing 281 life insurance policies worth of Rs 1.21 crore by obtaining third party cheques from agents and paying an amount of Rs 2.45 lakh to aforesaid agents towards commission against these polices. These third party cheques were dishonoured later and premium amounts were not released in lIC’s bank account. After dishonour of third party cheques, the accused lIC Officials did not to take necessary action against the agents.
According to the CBI officials, the accused officials and agents cheated the lIC and caused wrongful loss to lIC and corresponding wrongful gain to themselves. Earlier, a team of CBI sleuths also conducted searches at the offices and residential premises of the accused at different places in Gwalior and Indore. It has claimed of laying its hands on incriminating documents.