CBI court sentences former IOCL manager to 3-year jail for financial misconduct

New Delhi, Oct 1 The CBI Court, Ahmedabad, has convicted and sentenced an accused person to three years' imprisonment in a case of financial misappropriation.

According to the central agency, the CBI court on September 30, 2025, convicted and sentenced the accused person, Saji Sajeev, then Assistant Manager (Finance), Indian Oil Corporation Limited (IOCL), Rajkot, to undergo three years' Rigorous Imprisonment (RI) with a fine of Rs 90,000 in a case of financial misappropriation.

CBI registered the instant case on November 21, 2011, on the basis of a complaint of CVO, IOCL, New Delhi, wherein it was alleged that financial misappropriation amounting to Rs 18.90 lakh during the period 2005 to 2008 was found to have been committed by officials of IOCL, Rajkot, as revealed during an investigation carried out by the Vigilance Department of IOCL.

“The Vigilance investigation revealed an active role of Smt. Saji Sajeev, the then Asstt. Manager (Finance), IOCL, Rajkot and Shri Sandeep Harendrabhai Jani, then AO-II, IOCL, Rajkot,” the CBI said in a press statement.

According to the CBI, the investigation revealed that, “Finance department of IOCL, Rajkot was maintaining G.L Cash Imp rest account for making cash payment.”

“The GL Cash imp rest account was utilised for making petty cash payment. Saji Sajeev was the sole in charge/custodian of G.L. Cash Imp rest account as Accounts Officer (Finance), IOCL, Rajkot,” it said.

The investigation revealed that cash was fraudulently withdrawn by the accused from the general Imp rest account while working as Assistant Manager (Finance) at IOCL, Rajkot Divisional Office, during the years 2003 to 2008.

After investigation, the CBI filed a charge-sheet on September 30, 2013, against the accused for the offence of criminal conspiracy, criminal breach of trust of public servant, forgery of valuable documents, forgery for the purpose of cheating, using forged documents as genuine and criminal misconduct.

The CBI Court, after the trial, convicted and sentenced the accused accordingly.

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