The Special Judge, CBI Cases, Jaipur has sentenced Mr. Sahdev Kumar Butolia, then Administrative Officer (D.), National Insurance Company Limited (NICL), Branch Office-VI, Tonk Road, Jaipur (Rajasthan) to undergo 4 years Rigorous Imprisonment with fine of Rs. 26 lakh. The CBI had registered a case on 24.6.2015 on the allegations that NICL, Branch Office-VI, Jaipur received 3 cheques from SBBJ (Now SBI), Momasar for issuance of insurance policies to its customers. Mr. Sahdev Kumar Butolia, then Administrative Officer deposited the cheques with NICL, BO-VI, but in place of issuing policies in the name of SBBJ (Now SBI), Momasar customers, he used the SBBJ, Momasar amount for issuing insurance policies for other persons who had no relation with SBBJ, Momasar. An alleged loss to the tune of Rs. 3,75, 571/- was caused to NICL. During investigation of the case many more instances were found in which total loss of approximately Rs. 27.40 lakh was caused to NICL. After investigation, 13 separate charge sheets were filed against the accused in the Competent Court. The Trial Court found the accused guilty and convicted him.
