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Bhopal

Updated on: Thursday, May 30, 2019, 02:03 PM IST

CBI raids against LIC officials, car dealer; documents seized

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BHOPAL : CBI teams, on Tuesday, raided 10 places, including the offices and the homes of four LIC officials and the showroom of a car dealer.

The CBI team raided the house of LIC Officer Pradyumn Singh Bhadoria located in the Indrapuri area and Mahesh Malviya situated in Ashoka Garden. The residences of M.Y. Abbasi and Bindu Gadegava were also raided.

It is alleged that the LIC officials gave undue financial benefits to the car dealer Mechmen Motors Pvt Ltd of Bhopal. The officials had transferred Rs 2.40 crore into the accounts of the car dealer from the LIC Mutual Fund account in the month of March this year by cracking the password of the account. The officials were supposed to get commission for the fund transfer.  The LIC vigilance team had caught the fraudulent transfer and had handed over the case to the CBI.

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The CBI sources informed that a case was registered against Pradyumn Singh Bhadoria, Higher Grade  Assistant, LIC, Branch-IV, Bhopal and other unknown officials of LIC and others under sections 120-B and 420 of IPC and under sections 13(2)13(1)(d) of Prevention of Corruption Act 1988 on June 29.

In the complaint it is alleged that Bhadoria entered into a criminal conspiracy with the private firm and cheated and defrauded the LIC to the tune of Rs 2.40 crores in March, 2016. During searches, 54 incriminating documents and articles were seized by the CBI. The search was continuing at one place till the filing of the report.

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Published on: Wednesday, July 20, 2016, 12:14 AM IST
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