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Coimbatore
Insurance agent convicted in misappropriation case
April 5, 2016
Coimbatore Magistrate Court on Tuesday convicted an agent of a private insurance company for misappropriating funds collected from a customer.
According to sources, the Anti-Corruption Branch of the CBI, Chennai, had registered a case against K. Srinivasan, a licensed agent of New India Insurance Company Ltd, Mettupalayam Branch, alleging that he had dishonestly misappropriated the funds collected from various customers and issued fake and forged policy certificates to the policy holders between the months of January and March in 2006.
After investigations, a charge sheet was filed by CBI against K. Srinivasan before the Chief Metropolitan Magistrate, Coimbatore, under sections 409 and 471 IPC.
On Tuesday, R. Madhura Sekharan, Chief Judicial Magistrate of Coimbatore convicted K. Srinivasan to two years of rigorous imprisonment and a fine of Rs 10,000 in the cheating case after the trial.
