Insurance company official sentenced to 2 years imprisonment

A CBI court here today sentenced a senior official of a state-run insurance company to two years of imprisonment in a disproportionate assets case.
Additional Special Judge for CBI cases, R Killivalavan, sentenced D Pugazhendhi, Divisional Manager of United India Insurance Company (Chennai), to two years of imprisonment and his wife to a year jail term and also imposed a fine of Rs 15,000 on them.
CBI had registered a case in 2009 on an allegation that between 2002-09, Pugazhendhi on abetment by his wife, committed criminal misconduct by abusing his official position and acquired assets disproportionate to his known sources of income, a CBI release said.

Investigation revealed that during 2002-09, Pugazhendhi had acquired total assets of Rs 1.2 crore and incurred an expenditure of over Rs 36.52 lakh as against his total income of Rs.78 lakh, it said.
The disproportionate assets held by him against his known sources of income was over Rs 60 lakh, the release said.
The CBI had filed a charge-sheet against Pugazhendhi and his wife under the Prevention of Corruption Act, 1988.
The court also ordered for attachment of immovable properties available in the hands of the accused persons to the tune of Rs 37 lakh, it said.