:Mumbai, November 6,2024
The Special Judge for CBI cases, Mumbai, has convicted Shri Anand Prakash Mittal, the then Deputy General Manager (DGM) of New India Assurance Company Limited (NIACL) (while on deputation as MD of Nigerian Subsidiary of the company), for involvement in a fraudulent claim of service benefits and has sentenced him to four years of rigorous imprisonment. Additionally, the court has ordered the confiscation of six Fixed Deposits (FDs) totalling Rs 1,30,50,630/- (Rs.1.3 crore approx), which were generated from the proceeds of the crime. The confiscated amount, along with its accrued interest, will be credited to the State Treasury.The Central Bureau of Investigation (CBI) registered the instant case vide RC No.12/E/2016 on 14th September 2016 and initiated the probe after New India Assurance Company Limited filed a complaint against the accused, alleging criminal breach of trust and misuse of his official position. The case relates to fraudulent claims for pension and parting gifts that were made by Mittal during his deputation as Managing Director (MD) of the company’s Nigerian subsidiary. Mittal claimed pension benefits at a rate of 18%, without the approval of the Board of Directors or any competent authority, amounting to a total of Rs. 1.62 crore. It was further alleged that Mittal converted the money into Fixed Deposits in the names of his relatives.After a detailed investigation, the CBI filed a chargesheet against the accused on 27th December 2017.The Special Judge convicted Mittal, sentencing him to rigorous imprisonment following completion of the trial.
EC/PM
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