Finance News

Thane: ‘Missing’ man was debt-hit, traced
Times of India | 1 month ago | |
Times of India
1 month ago | |

KALYAN: The police have traced an employee Pankaj Mishra, who went missing 18 days ago while on duty in the Century Company located in Thane district. The police said Mishra was trying to hide, however, police found that as he was in debt and had taken loans he decided to run away as he was unable to pay the loans

Thane: ‘Missing’ man was debt-hit, traced
MACT award Rs 23.4 lakh to son whose father died in mishap
Times of India | 3 months ago | |
Times of India
3 months ago | |

THANE: A 35-year-old man has been awarded compensation of Rs 23.41 lakh by the Motor Accident Claims Tribunal (MACT) for the death of his 59-year-old father who was mowed down in an accident in 2017 at Navi Mumbai. Member of MACT , MM Walimohammad , in his order asked the insurance company to compensate the claimant by upholding his claim. The claimant, which includes the son of the deceased, in his petition mentioned that he is jobless and the deceased was the sole breadwinner and sought the compensation. Briefing about the accident, the lawyer said it was on the fateful day Dec 29,2016 at around 1 pm, the deceased was riding a bike and proceeding towards Vashi, as he came near Khadi bridge, another bike came in high speed, rash and negligent manner dashed the motorcycle of the deceased from behind, due to which was flung and fell on the road and sustained injuries. He was admitted to a private hospital at Vashi after which he died in the hospital on 19 jan 2017. The claimant mentioned that he had incurred Rs 7 lakh for medical expenses. Subsequently, Vashi police registered a case against the opponent who hit the bike from rear under various sections of Indian penal code and Motor vehicle act. The claimant claimed that his father was doing the business and earning Rs 25142 per month and died at the age of 59 and thus sought the compensation. The lawyer representing the insurance company opposed the claim and told the tribunal that the claim should not be granted on various grounds. But the member of MACT, considering the papers placed on record, directed the insurance company as well as owner of the tempo to jointly pay the sum of Rs 23.41 lakh to the kin of the deceased.

MACT award Rs 23.4 lakh to son whose father died in mishap
Navi Mumbai: Rs 23 lakh relief to man who lost dad in mishap
Times of India | 3 months ago | |
Times of India
3 months ago | |

THANE: A 35-year-old man was awarded a compensation of Rs 23.4 lakh by the Motor Accident Claims Tribunal (MACT) for the death of his 59-year-old father who was mowed down in an accident in 2017, in Navi Mumbai. In his order, MACT member MM Walimohammad asked the insurance company to compensate the claimant by upholding his claim. In his petition, the claimant mentioned that he is jobless and the deceased was the sole breadwinner. Briefing about the accident, the lawyer said on December 29, 2016, at around 1 pm, the deceased was riding a bike towards Vashi. As he neared Khadi bridge, another bike came at high speed and dashed into the victim’s motorcycle from behind and due to the imapct the victim flung and fell on the road and sustained injuries. He was admitted to a private hospital in Vashi but succumbed to his injuries during treatment on January 19, 2017. The claimant mentioned that he had incurred Rs 7 lakh for medical expenses. Subsequently, the Vashi police registered a case against the accused under various sections of the IPC and Motor Vehicle Act. The complainant claimed that his father was running a business and earning Rs 25,142 per month. Considering the papers on record, MACT directed the insurance company and owner of the vehicle to jointly pay the sum of Rs 23.4 lakh to the kin of the deceased.

Navi Mumbai: Rs 23 lakh relief to man who lost dad in mishap
Maharashtra: Man maimed for life in 2017 awarded Rs 49 lakh
Times of India | 4 months ago | |
Times of India
4 months ago | |

THANE: The Motor Accident Claims Tribunal (MACT) has awarded a compensation of Rs 49.3 lakh to a 29-year-old man who was maimed for life due to a mishap in 2017. MACT member MM Walimohammad, in his order asked the insurance company to compensate the claimant by upholding his claim. Through his counsel Advocate Sachin Mane, the claimant submitted to the tribunal that on January 11, 2017 around 12:30 pm, he was going from Cadbury junction to his house on his bike, when the tempo coming from the opposite direction in a rash and negligent manner dashed him.

Maharashtra: Man maimed for life in 2017 awarded Rs 49 lakh
3 arrested for cheating private bank of Rs 6 crore
Times of India | 5 months ago | |
Times of India
5 months ago | |

KALYAN: Officials of the Economic Offences Wing (EOW) on Tuesday arrested Korvie Agro Pvt Ltd director Digvijay Kokare, developer Manish Shukla and agent Umesh Bhaip for allegedly cheating a private bank of Rs 6.3 crore. Police said Kokare, with the connivance of his 26 employees, had availed housing loans in their names on forged documents and diverted the money. The EOW has found that the accused also managed the staff of Cracks Risk Management Company which, on behalf of the bank, carried out inspection of properties before the loans were sanctioned. Bhaip acted as a consultant in arranging the loans, police said. The private bank came to know of the fraud after the borrowers defaulted on the payments.

3 arrested for cheating private bank of Rs 6 crore
Thane: Mishap claim fake, two cops among 3 face the music
Times of India | 5 months ago | |
Times of India
5 months ago | |

THANE: Dismissing an accident claim of two brothers holding it as fake and frivolous, the Thane Motor Accident Claims Tribunal (MACT) has ordered action against three including two policemen for submitting fake claim. Rejecting the claim, MACT member HM Bhosale noted, “..the tendency to file false claims is not only harmful to insurance companies but it is a stigma on the institution in entertaining and dealing with such false claims. If such a tendency is allowed to develop or grow, it will certainly damage the image of the institution in the eyes of the society.” Bhosale fined the two brothers of Rs 3,000 each, and ordered departmental action against sub-inspector Sunil Gurav and constable Amrut Shinde with Panvel Taluka police. The siblings in their claim to the tribunal said, on September 01, 2017 they were riding a bike near Panvel, when a tempo dashed them near Apta village and they sustained injuries. They sought compensation claiming they were earning Rs 8,000 and Rs 12,000 per month. The two opponents in the claim were the owner of the tempo involved in the accident and the vehicle's insurer. The legal team appearing for the insurance company said the tempo has been planted to reap the compensation. The advocate said one claimant in his statement to the police said some unknown vehicle dashed their bike and that this is a clear case of “hit and run”. The insurer submitted that the petition is not maintainable. The advocate said the offence was registered three-and-half months later. “The medicolegal certificates relied on by the petitioners nowhere show that they were admitted with the history of road accident,” the advocate for insurance company informed. “Petitioners haven’t sustained injuries as a result of dash given by offending tempo. They fell from the motorcycle as claimant lost control,” tribunal member said.

Thane: Mishap claim fake, two cops among 3 face the music
Thane: Policy holder cheated of Rs 46 lakh by 3 insurance firm staffers
Times of India | 5 months ago | |
Times of India
5 months ago | |

ULHASNAGAR: The Central police in Ulhasnagar have arrested three employees of a private insurance company, including a relationship manager, for allegedly duping a hotelier by prematurely surrendering his Rs 46 lakh insurance policy, without informing him. The accused have been identified as Minu Jha, 32, Anuj Madhavi, 30, and Vikas Gaud, 25. Jha is posted as a relationship manager while the other two work at junior level. The police said that hotelier Aasan Balani had taken the policy in the name of his son, Niraj, in 2010, and as per the agreement, he was supposed to pay Rs 1 lakh a year until 2030 when he would get a lump sum amount of Rs 46 lakh. Since Balani had not received any text message alerts for his policy, which he used to get earlier, he approached the insurance company's Ulhasnagar branch in July this year only to find that it had been surrendered before maturity last year. He was also told that the proceeds had been paid to the policy holder. He lodged a complaint in August. The police have found that Jha, the main accused, roped in Madhavi to impersonate the original policy holder (Balani). The accused, however, reinvested the proceeds in the name of the original policy holder. According to the police, the accused resorted to the fraud so that they could fetch a higher commission by way of sale incentive. Balani did not get any clue about the fraud as the impersonator had given his contact number to the relationship manager and all communications were diverted to it, police found during its investigation.

Thane: Policy holder cheated of Rs 46 lakh by 3 insurance firm staffers
Fake Call Centre Cheating US Citizens Busted In Maharashtra, 16 Arrested
Ndtv | 5 months ago | |
Ndtv
5 months ago | |

The police have seized various equipment, gadgets and data from the call centre.Thane: Thane police have busted a fake call centre which allegedly duped US citizens after offering them loans and arrested 16 people in this connection, an official said on Sunday.Acting on a tip-off, the police raided the call centre located in Wagle Estate area of Maharashtra's Thane city on the intervening night of Friday-Saturday and caught the people working there, including three women, senior police inspector V B Murtadak said.He said the accused would contact people in the US and offer them loans. After obtaining their bank account details, the accused would siphon off funds from their accounts, the official said.An agent coordinating in the US would collect the money and transfer it to India through 'hawala' after taking his share from it, the police said.Hawala denotes illegal transaction of funds by skirting the legal banking channels.The 16 people arrested include the call centre owners - Siddesh Sudhir Bhaidkar (33) and Sania Rakesh Jaiswal (26), the official said.A juvenile was also detained in connection with the offence and later handed over to his parents after completion of legal formalities, the official said.The police have seized various equipment, gadgets and data from the call centre, he said.Offences were registered against the accused under relevant provisions of the Indian Penal Code, Information Technology Act and the Indian Telegraph Act, the official said.PromotedListen to the latest songs, only on JioSaavn.comThe accused were on Saturday produced before a local magistrate who remanded them in police custody for seven days, he said. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Fake Call Centre Cheating US Citizens Busted In Maharashtra, 16 Arrested
Another fake call centre busted; 16 held in Thane
Times of India | 5 months ago | |
Times of India
5 months ago | |

THANE: The Thane police late on Saturday arrested 16 people, including three women, for allegedly running a fake call centre from Wagle Estate area. The police said that the prime accused have been identified as Siddhesh Bhaidkar and Saniya Jaiswal who scammed American citizens and some American banks. This is the second call centre running from the Wagle Estate to have been busted this year. A police officer said that during the preliminary probe, the police understood a few aspects of the modus operandi. A police officer explained, “The suspects would call the American citizens offering them loans. Later, they would convince them to share their login details. They would send the banks details from the citizens ID and the bank would offer a few dollars as temporary credits. They, along with their aides, would redeem the money.”

Another fake call centre busted; 16 held in Thane
Thane: Insurance officials dupe client over Rs 46 lakh policy
Times of India | 5 months ago | |
Times of India
5 months ago | |

KALYAN: A hotelier from Ulhasnagar has lodged a police complaint against officials of an insurance company, accusing them of cheating him of Rs 46 lakh. The complainant, Assan Balani, has said that his insurance policy with the private company was prematurely surrendered by the company officials, without informing hi. Two officials of the company have been booked in this connection, the police said, adding that no arrest has been made so far. The man has said that the officials then reinvested the same money as this would fetch them a higher commission by way of sales incentives. The hotelier had taken the policy in his son’s name in 2010. According to the terms of this policy, he had to pay Rs 1 lakh a year until 2020. The policy was to mature in 2030 when he would have received a lumpsum amount of Rs 46 lakh. Since he had not received any text alerts for this policy, which he used to get until last year, he approached the company’s Ulhasnagar branch to get a statement of account. That is when he was told that the policy had been surrendered before maturity last year. Although the original script for the policy was in Balani’s custody, in the company’s records it was shown as ‘surrendered’ and proceeds paid to the policy holder. An FIR lodged at Central police station has named branch manager, Satish Soni, and a relationship manag-er, Minu Jha, as accused in the case. The police said that the company officials had roped in a man to impersonate the original policy holder and got the policy proceeds prematurely. The manager allegedly ensured that the premature surrender proceeds were transferred smoothly, said the police “The impersonator, Santosh Tolani, had given a new contact number tothe relationship manager so that the original policy holder would not get any text alerts,” said a police officer. To play it safe, Rs 8 lakh of what they received as proceeds was re-invested in the company in the same name as the policy holder, using the identification documents that had been given to the company earlier, but with a new cellphone number for text alerts. “This was theirway to ensure that the original policy holder is not alerted about the fraud all through,” claimed an officer. “With the two new policies, the accused earned a 20% sales commission – that is Rs 1. 6 lakh. ” A police official, who is probing the case, said that they have recorded statement of several people in this connection and very soon action will be taken as per the findings.

Thane: Insurance officials dupe client over Rs 46 lakh policy
Thane Motor Accident Claims Tribunal grants Rs 23 lakh to kin of woman who died in mishap
Times of India | 6 months ago | |
Times of India
6 months ago | |

THANE: Kin of a 21-year-old woman, a data operator who died in a freak mishap has been awarded Rs 23.2 lakh by the Thane Motor Accident Claims Tribunal (MACT). The claimants include the parents of the deceased and her brother, all residents of Ulhasnagar. The kin pleaded they were dependent on the deceased and due to her sudden demise they suffered mental and financial loss. In their claim, the kin pleaded to the tribunal that on the fateful day of June 23, 2018 around 9.30pm, when deceased Pooja Ahire alighted from a bus opposite Cine Wonder, Kapurbawdi, a speeding autorickshaw knocked her down causing severe injuries to her head. One more friend was injured in the mishap, the claim said. Ahire was rushed to the hospital where two days later she succumbed to her injuries on June 25,2018. The tribunal was also informed that the family spent Rs. 2 lakh on her medical treatment. The Kapurbawdi police registered a case against the accused rickshaw driver. The kin further pleaded that at the time of accident, the deceased was working with a private firm as a data operator and was earning a salary of Rs 13,000 per month. The counsel for the insurance company vehemently contested the claim on various grounds and submitted that the claim itself should not be awarded. In his order the chairman of the tribunal and Principal district judge, Abhay J Mantri, directed the insurance company to make the payment of compensation to the applicants along with an interest of 7.5% per annum from the date of filing of the claim. The opponent in the petition, who is the owner of the offending auto rickshaw, did not appear, and the case was decided ex-parte against him and the insurance company. The compensation amount includes, Rs 19.65 lakh towards loss of dependency/income(including on account of loss of future prospectus), Rs 1.85 lakh towards medical expenses, Rs 1.2 lakh towards loss of filial and sisterhood consortium (including loss of love and affection), Rs 33,000 towards loss of estate and funeral expenses, and Rs. 15,000 towards conveyance, attendance and special diet.

Thane Motor Accident Claims Tribunal grants Rs 23 lakh to kin of woman who died in mishap
Palghar: Man who lost both legs in accident to get Rs 73 lakh
Times of India | 7 months ago | |
Times of India
7 months ago | |

THANE: A 44-year-old man who lost both legs in a road accident in 2018 has been awarded a compensation of Rs 73 lakh by a Lok Adalat in Palghar district. Deepak Namdeo Khandare, a manager with a travel and timeshare firm, was hit by a truck in March that year near Ambivali in Palghar while riding a motorcycle, officials said. Both his legs had to be amputated after the accident, leaving Khandare, who was earning Rs 54,000 per month at the time, and his kin devastated. Khandare and the insurance firms reached a settlement on August 13, and details of the order were made available on Thursday. The settlement was reached before Palghar Principal Judge AS Pratinidhi at the Lok Adalat, they added.

Palghar: Man who lost both legs in accident to get Rs 73 lakh
Ulhasnagar: Insurance company’s branch manager among three booked for cheating hotelier of Rs 47 lakh
Times of India | 7 months ago | |
Times of India
7 months ago | |

ULHASNAGAR: A hotelier from Ulhasnagar in Maharashtra's Thane district has lodged a police complaint against two senior officials of Bajaj insurance company and one private person, accusing them of cheating him of Rs 47 lakh. The complainant, Assan Balani, has said that his insurance policy with the private company was prematurely surrendered without his knowledge by the company officials. Two officials of the company, including branch manager, relationship manager and private person have been booked in this connection, the police said, adding that no arrest has been made so far. The man has said that the officials then reinvested some of money to buy two new policy in the name of Balani as this would fetch them a higher commission by way of sale incentive. The hotelier had taken the policy in his son Neeraj’s name in 2010. According to the terms of this policy, he had to pay Rs 1 lakh a year until 2030. The policy was to mature in 2030 when he would be paid a lumpsum amount of Rs 47 lakh. Since he had not received any text message alerts for this policy, which he did until last year, he approached the company’s Dombivli branch to get a statement of account. That is when he was told that the policy had been surrendered before maturity last year,, and without Balani's knowledge, two other new policies were also purchased in his name which showed three installment were paid, of around Rs 4 lakh. An FIR lodged at Central police station has named Dombivli's branch manager Satish Soni, relationship manager, Minu Jha, and one private person Santosh Tolani as accused in the case. The police said that the company officials had roped in Tolani to impersonate the original policy holder and got the policy proceeds pre-maturely. The manager allegedly ensured that the premature surrender proceeds were transferred smoothly, said the police. "The impersonator, Santosh Tolani, had given the new contact number of the relationship manager Jha so that the original policy holder would not get any text alerts," said a police officer. To play it safe, the amount of Rs 12 lakh which they received as proceeds, was re-invested in the company in the same name as the policy holder, using the identification documents that had been given to the company earlier, but with a new cellphone number for text alerts. "This was their way to ensure that the original policy holder would not be alerted of the fraud all through," claimed an officer. "With the two new policies, the accused earned a 20% sales commission, that is Rs 2.4 lakh."

Ulhasnagar: Insurance company’s branch manager among three booked for cheating hotelier of Rs 47 lakh
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