Two retired senior officials of National Insurance Company Limited (NICL) and two others have been awarded three and half years jail term by a Delhi court in an over Rs 2 lakh insurance fraud case.
Special CBI Judge Rakesh Sayal handed down the jail term to 73-year-old Moti Lal Mathur and 71-year-old Yas Pal Babbar after holding them guilty of involvement in a conspiracy to cheat NICL along with his associates Pramod Kumar Gupta and Ramesh Khaneja.
Gupta, the then surveyor, and Khaneja of M/s Globe Claims Recovery Consultants, were also sentenced to three years and six months in jail.
Besides criminal conspiracy and cheating, the four have also been held guilty under the Prevention of Corruption Act.
"From the circumstances brought on record, it appears that the offences committed by the convicts were premeditated with a motive to illegally gain money. The offences committed in this case were a part of series of transactions in which similar offences have been committed.
"The convicts are mature persons having full control over their will. Convicts Yash Pal Babbar and Moti Lal Mathur were officers of National Insurance Company Ltd. There was a relationship of trust between them and the said company, which they have betrayed. All the convicts had played an integral role in commission of offences," said the court which also imposed a fine of Rs 40,000 each on Mathur and Babbar.
Gupta and Khaneja have to pay Rs 20,000 each as fine.
CBI had registered a case against six persons in January 2001 on a complaint filed by chief visionary officer of NICL, K B Mahapatra.
