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Reading: ED attaches assets worth over Rs 36 Crore in J&K health insurance case
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Rising Kashmir > Blog > Breaking > ED attaches assets worth over Rs 36 Crore in J&K health insurance case
Breaking

ED attaches assets worth over Rs 36 Crore in J&K health insurance case

RK Online Desk
Last updated: January 18, 2024 4:26 pm
RK Online Desk
Published: January 18, 2024
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The Enforcement Directorate on Thursday has attached property worth over Rs 36 crore in the case of M/s Reliance General Insurance Pvt. Ltd. (RGIPL) and M/s Trinity Reinsurance Brokers Private Limited (TRBL) linked to health insurance of employees in Jammu and Kashmir.

According to a statement issued here, ED said that case is linked to awarding of tender of Mediclaim Insurance Policy for the J&K Government Employees, PSUs’ employees & pensioners fraudulently to Reliance General Insurance by J&K Finance Department in collusion with Trinity Reinsurance Brokers Limited (Insurance Broker).

The statement reads that the ED initiated investigation on the basis of FIR registered by the CBI, ACB, Srinagar for commission of offences under various sections of PC (Pari-Materia to sections 120-B & 420 of IPC) and JKPC (Pari-Materia to sections 13(1) (d) read with 13(2) of PC Act), on the basis of complaint filed by the J&K government against Trinity Reinsurance Brokers Limited, Reliance General Insurance Company Limited and unknown Public Servants & private persons.

It reads that the investigation revealed that J&K Finance Department deliberately awarded the tender for engagement of intermediary for designing, floating the tender for and implementation of the Health Scheme for government employees & pensioners of J&K by dubious or questionable selection and shortlisting process to TRBL without holding the essential eligibility criteria. 

“Moreover, the tender for engagement of IRDAl registered insurance company was awarded through M/s TRBL to the said Insurance Company which was already blacklisted by Govt. of Chhattisgarh by modification and deletion of essential eligibility criteria even though the company had less presence in J&K and bare minimum experience, as pre requirement of the tender, during the stipulated period,” it reads. 

It added that in this way, Rs 63.53 Crores was fraudulently disbursed to theses companies and out of this amount, medical claims of Rs. 17 crore had been disbursed by the M/s RGIPL. 

“ED has attached land worth Rs 4.04 Crore in the name M/s Globus Trade Links Pvt. Ltd., a subsidiary of M/s TRBL and FDRs to the extent of value of Rs 32.53 Crore, pertaining to M/s Reliance General Insurance Pvt. Ltd. 

Further investigation is under progress,” it reads.

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