Insurance firm agent convicted for graft

05 April, Chennai

A Judicial Magistrate courtin Coimbatore today convicted a licensed agent of New India Assurance Company and sentenced him to two years rigorous imprisonment in a misappropriation case filed by the CBI.

Delivering the verdict, Chief Judicial Mgistrate R Madhura Sekharan also imposed a fine of Rs 10,000 on the agent, K Srinivasan. The Anti Corruption Branch of CBI, Chennai registered and investigated a case in against Srinivasan, a licensed agent of Mettupalayam Branch in Coimbatore, on allegations that during the period January to March 2006 had dishonestly misappropriated the funds collected from various customers and issued fake and forged policy certificates to the policy holders.

After completion of investigation, the chargesheet was filed by CBI against him before the Chief Metropolitan Magistrate, Coimbatore under sect 409 and 471 of IPC. After completion of trial, the Court today convicted and sentenced the accused to undergo RI for two years and imposed a fine of Rs 10,000.