Ahmedabad: The CBI, Gandhinagar, has booked one Sanket Vaghela, business manager at the Surendranagar office of Oriental Insurance Company Ltd, for allegedly misappropriating over ₹6 crore from the company.

The case, filed on December 19, is based on a complaint by S.K. Dutta, regional manager of the insurer’s Ahmedabad office. According to the FIR, Vaghela had been managing the Surendranagar office for the past three years, overseeing premium collections, payments to company creditors, and disbursement of professional fees to third-party administrators (TPAs) and brokers.

Vaghela, who joined the company as an administrative officer on August 13, 2018, allegedly handled all payments from the Surendranagar office. The complaint states that while the company maintained a dedicated Axis Bank account for office transactions, Vaghela also held a personal account with the same bank. The FIR states that allegedly between February 14 and September 27, 2025, he transferred substantial sums from the company’s account to his personal account via online transactions.

“From the averment of the complaint, it revealed that accused Sh. Sanketkumar Rasiklal Vaghela, while functioning as Business Manager at the Oriental Insurance Co. Limited Business Office, Surendranagar during the period from 14.02.2025 to 27.09.2025, and being a public servant, with mala fide intention by misusing his official position, transferred an amount to the tune of Rs. 6,03,78,619.03/- from the company’s bank account to his own personal bank account by creating bogus vouchers, thereby causing wrongful loss to the company and wrongful gain to himself,” states the FIR.

Following the audit, Vaghela was suspended on October 7, 2025. He reportedly admitted in writing to having deposited ₹2.3–2.5 crore back into the company account and promised to repay the remaining amount within three months.

After securing mandatory prior approval under Section 17A of the Prevention of Corruption Act, the CBI registered offences under multiple sections of the Bharatiya Nyaya Sanhita and the Prevention of Corruption Act for offences including Forgery, Cheating, Criminal Breach of Trust, and Criminal Misconduct. DeshGujarat