The Special Judge of CBI Court No. 06, Lucknow, has convicted and sentenced Shri Shiv Prasad Gupta, former Assistant at National Insurance Co. Ltd., Sultanpur, to five years of rigorous imprisonment along with a fine of ₹55,000 in a case related to cheating and fraud.
Case Background
The Central Bureau of Investigation (CBI) had registered a case on May 22, 2002, against Shiv Prasad Gupta and other unidentified individuals for their involvement in fraudulent activities. According to the allegations, during the financial year 2000-01, Gupta, in criminal conspiracy with others, tampered with an account payee cheque meant for an insurance agent’s commission. He fraudulently converted the cheque into a bearer cheque and withdrew the money for his personal benefit.
This fraudulent act caused a financial loss of ₹48,826.20 to National Insurance Co. Ltd., a Public Sector Undertaking (PSU) under the Central Government.
CBI Investigation and Legal Proceedings
After a thorough investigation, the CBI found sufficient evidence against the accused. On July 31, 2004, the CBI filed a charge sheet in court, formally accusing Gupta of the offense.
During the trial, the prosecution presented strong evidence proving that Gupta had misused his position, manipulated financial records, and committed fraud by withdrawing money illegally. The court carefully examined the evidence and witness testimonies before delivering its verdict.
Court’s Verdict and Sentencing
After a detailed trial, the CBI Special Court found Shiv Prasad Gupta guilty of cheating, forgery, and criminal conspiracy. The court sentenced him to:
- Five years of rigorous imprisonment (RI)
- A fine of ₹55,000
The court held that his actions not only caused financial losses but also undermined trust in financial institutions and public sector insurance services.
Significance of the Judgment
This judgment reinforces the commitment of the judiciary and investigative agencies to curb financial fraud and corruption in government institutions. It serves as a strong warning to individuals misusing their positions for personal gain at the expense of public funds.
The CBI continues to remain vigilant in investigating and prosecuting economic offenses, corruption cases, and financial frauds to ensure accountability and transparency in public institutions.
