The Central Bureau of Investigation (CBI) has charged a divisional manager of the United India Insurance Company with fraud, the agency said Monday.
The charge against Babu Lal Kohli, who currently heads the company's divisional office at Sikar in Rajasthan, was that while working in a similar capacity in Delhi, he had collected premiums from several people and had issued them cover notes but had neither deposited their copies nor the money with the company, a CBI statement said.
"Thus, the premium amounts collected have been misappropriated by him and the insurance company has also been cheated. Further, the insurance company has been put to risk in that he has issued policies to the individuals and the company is liable to pay any claims and damages against the policies," the statement added.
There are also allegations that Kohli had settled false claims despite knowing that they were based on false and bogus records.
The CBI said searches have been conducted at Kohli's two residences in Delhi and his office in Sikar. Documents about his assets, including three flats in Dakshinpuri, Krishna Park in Khanpur and Shalimar Garden areas, five plots at Madanpur and a plot in Surajpur Industrial Area in Delhi and agricultural land in Alwar in Rajasthan had been recovered during the searches.