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Hari (test)     25 February 2014

Old company issues after termination


On of my colleague worked in an insurance company and was terminated as he did not deposit some clients account to the company account. He repaid the amount but was terminated. He was made to write on a paper that in case if there are any issues in future he needs to give back the money in case of loss to the company becasue of any client complaining.

After 4 years they came back and asked him to pay some money and showed the reciept the client payed. He payed the money. what we want to know is can we give some notice to company saying that i am not reponsible from now for any issues.

 6 Replies

Advocate Ravinder (Advocate/Attorney)     27 February 2014

It seems you have committed fraud upon the clients.  You cannot escape from your obligation if you have really collected money from the clients and not deposited the same into the account of insurance co.  If you have not done any wrong, then there is no need to worry. 

Sudhir Kumar, Advocate (Advocate)     28 February 2014

Your friend should pay no more money he should insist that the company should give FIR u/s 406 (non-bailable) if anymore fraud is detected on his part.

Kumar Doab (FIN)     28 February 2014

Indeed it was fraud.

Now it seems that you have been made to pay twice.

Approach a local lawyer and submit a carefully structured representation declaring that no amount is payable by you.


If he was agent/unit manager then as per guidelines issued by IRDA, the policies of the clients would have been tagged with other agents/unit manager, and company would have informed the clients that you are no more associated with them.

T. Kalaiselvan, Advocate (Advocate)     28 February 2014

I agree with the opinions of al experts above on the subject and nothing more to add.

Advocate Ravinder (Advocate/Attorney)     01 March 2014

If the fraud has been committed during his tenure, then only he will be liable.  If the fraud is committed (by some other agent/unit manager) who had taken his position after his resignation, then he is not liable. 

Anil Kumarsingh   13 August 2019

dear sir if company forcefully ask for resignation without any agenda then what can I do because of they spoil my career

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