CBI carries out searches at Jaiprakash Associates office

CBI today carried out searches at the office of Jaiprakash Associates in connection with alleged fraud in claiming insurance money from United India Insurance Corporation Limited with regards to Dul Hasti hydroelectric power plant in Kishtwar.
CBI sources said a case has been registered against Jaiprakash Associates, the then Deputy General Manager Rama Bhasin, Regional Manager Ashok Ganguly and Divisional Manager L C Gupta of United India Insurance Corporation Limited.
Request for comments from Jaiprakash remained unanswered.
The sources said it is alleged that the claim which should have been issued through National Hydroelectric Power Corporation Ltd (NHPC) was issued directly to Jaiprakash Associated resulting in losses to the tune of Rs 4.70 crore in the year 2010 to NHPC and United India Insurance Corporation.

CBI sources said FIR has been registered under IPC sections related to criminal conspiracy, cheating and provisions of Prevention of Corruption Act.
The agency carried out searches at the office of the company at Sector-128, Noida.

"The Central Bureau of Investigation has registered a case ...On the allegations of processing & settling the insurance claims to the tune of Rs 4.70 crore (approx) in violation of prescribed procedure.
"The accused had allegedly misused their official position to favour the said private company and thereby causing an alleged loss to National Hydroelectric Power Corporation Ltd (NHPC) and United India Insurance Corporation Ltd (UIICL)," CBI Spokesperson R K Gaur said.

He said searches are being conducted today at the official and residential premises of the accused and others at Delhi and Noida (UP).