For such fake/fictitious/fabricated 3rd Party Motor Insurance the said culprits are using several types of printed stationery in the name of M/s The Asian Mutual Insurance Company and other Insurance companies, while the stationery got printed at their own by said culprits in the name of insurance companies in fraudulent manners
The Federal Investigation Agency (FIA), Crime Circle have registered a case against M/s Shahid Auto Exchange, Saddar, Karachi, under section 420/468/471/109/34 PPC for fake and fictitious Motor Insurance frauds.
According to details of the FIR, accused Shahid alias Paapri owner of M/s Shahid Auto Exchange and others by way of fake/fictitious 3rd party Motor Insurance in the name of innocent people on the basis of fake/ forged Insurance company documents were found indulged in illegal and unauthorized Insurance business and causing loss to Insurance Companies, the public as well as the government exchequer and thereby committed the offences of fraud and forgery punishable U/S.420/468/471/109/34 PPC.
As per complaint from Mr. Tahir Mahmood General Manager (Marketing) of M/s The Asian Mutual Insurance Company (Guarantee) Ltd., (Incorporated in Pakistan) office address: 18 Karim Plaza, Near Civic Centre, Gulshan-e-Iqbal, Karachi bearing his No. Ref: AMI/06-04/11 dated 8th April, 2011 against one Shahid alias Paapri M/s Shahid Auto Exchange reportedly being impersonating as their Insurance Representative and fraudulently/ deceitfully doing the 3rd Party Motor Insurance by managing fake/ forged policy documents of complainant's Insurance Company.
For such 3rd Party Motor Insurance the accused Shahid alias Paapri had issued Insurance Receipt No.8492 of "M/s Asian Mutual Insurance Company (Guarantee) Limited" in respect of 3rd party insurance policy in the name of one Muhammad Waseem Shaikh for his Motorcycle Super Power Engine # 4411886 chassis # 0462828 and other documents viz. Schedule, 3rd party Insurance Policy without any number (blank), letter dated 14.10.2010 purportedly issued by M/s The Asian Mutual Insurance Company (Guarantee) Limited, Lahore for Insurance Policy No.SA/2010/0377 in the name of Waseem.
Besides, the said accused had also issued another Insurance Policy No.SA/2010/0293 in the name of Ghani Muhammad s/o Habibur Rehman CNIC # 42401-2915653-3 in respect of his Motorcycle make Super Power Engine # 0382880 Chassis # 0433738 for the period from 04.10.2010 to 03.10.2011 in the name of M/s The Asian Mutual Insurance Company (Guarantee) Limited, Lahore for 3rd party Insurance.
However, an incident was occurred and in this respect Muhammad Waseem had lodged FIR No.1305/2010 dated 21.12.2010 regarding snatching of his Motorcycle at P.S. Preedy, Saddar Town, Karachi and the accused Shahid alias Paapri on account of so called claim of Motorcycle had issued a cheque No.92896 dated 15.03.2011 titled Waseem Shaikh for Rs33,000/- from his personal account # 0194-1001959103 maintained in the name of M/s Shahid Auto Exchange at Bank AI-Falah Limited, Nagan Chowrangi Branch, Karachi.
The complainant had also confirmed that alleged M/s Shahid Auto Exchange was never authorized nor the said firm was the representative/ agent of complainant's Insurance Company, but indulged in illegal/ unauthorized business of Insurance without their consent/ knowledge.
Another enquiry No.48/2011 dated 13.04.2011 of FIA, Crime Circle, Karachi initiated on a written complaint from Mr. Mujeebuddin of Accident Welfare Foundation of Pakistan Karachi under the orders of competent authority/ Director FIA, Sindh, Karachi vide his letter No.FIA/KZ/COMPT/CCK-29/2011/B-8345 dated 12.04.2011, it was transpired that some culprits/ so called agents of the Insurance companies were indulged in issuance of 3rd Party Motor Insurance to the innocent persons.
Such third Party Motor Insurance/ Insurance Policy and Certificate is required to be issued by an authorized Insurer/ Insurance company in favour of a Motor Vehicle in pursuance of the Motor Vehicle Act-1939 in order to cover the risk of death, bodily injury or loss of property of third party, duly registered with (SECP) Securities & Exchange Commission of Pakistan (Insurance Division). In case of any agreed incident/ accident, the claim is to lodge by the insured/ owner of the vehicle, on the basis of said policy.
After due process the insurance company is bound to pay the claim amount to the concerned third party/Policy holder. Allegedly some culprits by imposing themselves as agents of Insurance companies are indulged in issuance of fictitious/ counterfeit Insurance Certificates/Policies without proper policy, receipt and stamp duty, while some are short of Stamp Duty. Some culprits purportedly the agents of insurance companies which were closed/ ceased are also indulged in such illegal/unauthorized business of 3rd Party Motor Insurance in the market. For such fake/fictitious/fabricated 3rd Party Motor Insurance the said culprits are using several types of printed stationery in the name of M/s The Asian Mutual Insurance Company and other Insurance companies, while the stationery got printed at their own by said culprits in the name of insurance companies in fraudulent manners.
As per complaint from Mr. Tahir Mahmood General Manager (Marketing) of M/s The Asian Mutual Insurance Company (Guarantee) Ltd., (Incorporated in Pakistan) office address: 18 Karim Plaza, Near Civic Centre, Gulshan-e-Iqbal, Karachi bearing his No. Ref: AMI/06-04/11 dated 8th April, 2011 against one Shahid alias Paapri M/s Shahid Auto Exchange reportedly being impersonating as their Insurance Representative and fraudulently/ deceitfully doing the 3rd Party Motor Insurance by managing fake/ forged policy documents of complainant's Insurance Company.
For such 3rd Party Motor Insurance the accused Shahid alias Paapri had issued Insurance Receipt No.8492 of "M/s Asian Mutual Insurance Company (Guarantee) Limited" in respect of 3rd party insurance policy in the name of one Muhammad Waseem Shaikh for his Motorcycle Super Power Engine # 4411886 chassis # 0462828 and other documents viz. Schedule, 3rd party Insurance Policy without any number (blank), letter dated 14.10.2010 purportedly issued by M/s The Asian Mutual Insurance Company (Guarantee) Limited, Lahore for Insurance Policy No.SA/2010/0377 in the name of Waseem.
Besides, the said accused had also issued another Insurance Policy No.SA/2010/0293 in the name of Ghani Muhammad s/o Habibur Rehman CNIC # 42401-2915653-3 in respect of his Motorcycle make Super Power Engine # 0382880 Chassis # 0433738 for the period from 04.10.2010 to 03.10.2011 in the name of M/s The Asian Mutual Insurance Company (Guarantee) Limited, Lahore for 3rd party Insurance.
However, an incident was occurred and in this respect Muhammad Waseem had lodged FIR No.1305/2010 dated 21.12.2010 regarding snatching of his Motorcycle at P.S. Preedy, Saddar Town, Karachi and the accused Shahid alias Paapri on account of so called claim of Motorcycle had issued a cheque No.92896 dated 15.03.2011 titled Waseem Shaikh for Rs33,000/- from his personal account # 0194-1001959103 maintained in the name of M/s Shahid Auto Exchange at Bank AI-Falah Limited, Nagan Chowrangi Branch, Karachi.
The complainant had also confirmed that alleged M/s Shahid Auto Exchange was never authorized nor the said firm was the representative/ agent of complainant's Insurance Company, but indulged in illegal/ unauthorized business of Insurance without their consent/ knowledge.
Another enquiry No.48/2011 dated 13.04.2011 of FIA, Crime Circle, Karachi initiated on a written complaint from Mr. Mujeebuddin of Accident Welfare Foundation of Pakistan Karachi under the orders of competent authority/ Director FIA, Sindh, Karachi vide his letter No.FIA/KZ/COMPT/CCK-29/2011/B-8345 dated 12.04.2011, it was transpired that some culprits/ so called agents of the Insurance companies were indulged in issuance of 3rd Party Motor Insurance to the innocent persons.
Such third Party Motor Insurance/ Insurance Policy and Certificate is required to be issued by an authorized Insurer/ Insurance company in favour of a Motor Vehicle in pursuance of the Motor Vehicle Act-1939 in order to cover the risk of death, bodily injury or loss of property of third party, duly registered with (SECP) Securities & Exchange Commission of Pakistan (Insurance Division). In case of any agreed incident/ accident, the claim is to lodge by the insured/ owner of the vehicle, on the basis of said policy.
After due process the insurance company is bound to pay the claim amount to the concerned third party/Policy holder. Allegedly some culprits by imposing themselves as agents of Insurance companies are indulged in issuance of fictitious/ counterfeit Insurance Certificates/Policies without proper policy, receipt and stamp duty, while some are short of Stamp Duty. Some culprits purportedly the agents of insurance companies which were closed/ ceased are also indulged in such illegal/unauthorized business of 3rd Party Motor Insurance in the market. For such fake/fictitious/fabricated 3rd Party Motor Insurance the said culprits are using several types of printed stationery in the name of M/s The Asian Mutual Insurance Company and other Insurance companies, while the stationery got printed at their own by said culprits in the name of insurance companies in fraudulent manners.
-Published on page#-09 in July-2011 issue of MOBILE WORLD Magazine.
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