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New Delhi, Aug 2 :The Special Judge for CBI cases, Chennai has convicted. T. L. Vedachalam, the then Assistant Manager of United India Insurance Company Ltd. and three private persons i.e. M. Malyadri, Lella V. Nehru & P.V. Subbaiah and sentenced them to undergo one year Rigorous Imprisonment with total fine of Rs.12,000/- for causing loss of Rs.1.52 lakhs(Approx.) to United Insurance Company Ltd.
A case was registered on 30.04.2002 against Sh. T. L. Vedachalam, Assistant Manager, United India Insurance Company Ltd, Division XI, Chennai; . M. Malyadri, Lorry Operator; Lella V Nehru, Insurance Surveyor; . P. V. Subbaiah & others alleging that during the year 2000, the said accused persons entered into a criminal conspiracy at Chennai, Vijayawada and other places to cheat United Insurance Company. In pursuance of the said conspiracy, M. Malyadri; Lella V Nehru; & P. V. Subbaiah & others fraudulently prepared a false motor accident claim with false particulars for two vehicles which had not met with any accident. Further, they also prepared bogus survey reports, cash & credit bills for Rs.91,500/- & Rs.61,000/- respectively and submitted the same to the United India Insurance Company Ltd. In pursuance of the conspiracy, Sh. T. L. Vedachalam, the then Assistant Manager knowing fully well about the false nature of claims processed & recommended the false claims without verifying the genuineness of the claims, as a result of which, the claims were passed.
Thus, the accused persons caused a wrongful loss of Rs.1,52,500/- (approx) to United India Insurance Company Ltd. and a corresponding wrongful gain for themselves.
After completion of investigation, two chargsheets were filed before the Special Judge for CBI Cases, Chennai U/s 120-B r/w 420, 468, 468, r/w 471 & Section 13(2) r/w 13(1) (d) of PC Act, 1988.
Read more / Original news source: http://manipur-mail.com/assistant-manager-uicl-arrested/
