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

Srinagar, Jan 18 (WD):

The Enforcement Directorate (ED) has seized assets exceeding Rs 36 crore in a case related to health insurance in Jammu and Kashmir. The assets are linked to M/s Reliance General Insurance Pvt. Ltd. (RGIPL) and M/s Trinity Reinsurance Brokers Private Limited (TRBL).

This case involves the alleged fraudulent awarding of the Mediclaim Insurance Policy tender to Reliance General Insurance by J&K Finance Department, in collusion with Trinity Reinsurance Brokers Limited (TRBL). The ED initiated the investigation based on an FIR filed by the CBI, ACB, Srinagar, citing offenses under various sections of PC and JKPC.

The investigation revealed intentional irregularities by the J&K Finance Department in awarding the tender to TRBL without essential eligibility criteria. The process led to the disbursement of Rs 63.53 crore, with Rs 17 crore utilized for medical claims by M/s RGIPL.

In response, the ED has seized assets, including land worth Rs 4.04 crore under M/s Globus Trade Links Pvt. Ltd. (a TRBL subsidiary) and Fixed Deposit Receipts totaling Rs 32.53 crore linked to M/s Reliance General Insurance Pvt. Ltd. The investigation is ongoing.