CBI raps insurance officials
Insurance company officials colluded with Janaki Rama Raju causing a wrongful loss of Rs 15 lakh
By : DC Correspondent
Update: 2015-09-17 07:26 GMT
Visakhapatnam: Special judge for CBI cases P.V. Jyothirmai on Wednesday convicted Merugu Francis Showry, the then senior divisional manager, United India Insurance Co. Ltd, Visakhapatnam, Gosala Varaprasad, former senior branch manager of Waltair Main Road, Pericherla Janaki Rama Raju, a city-based civil contractor, Penumathsa Samba Murty Raju, former assistant administrative officer of same insurance company and Kalidindi Venkata Krishnam Raju, another civil contractor and son-in-law of Janaki Rama Raju.
The brief of the allegation is that insurance company officials colluded with Janaki Rama Raju and his son-in-law Krishnam Raju causing a wrongful loss of Rs 15 lakh to the company. The accused persons settled an inadmissible insurance claim with regard to damage of Gotta Barrage, Vamsadhara Project by resorting to conspiracy, cheating, forgery, accepting forged documents and criminal misconduct. The judge convicted all of them to three years imprisonment and slapped a fine of Rs 90,000 while contractor Janaki Rama Raju was asked to pay a fine of Rs 4.5 lakh and his son-in-law RS 1.5 lakh.