Ex-IOCL employee convicted for embezzling ₹18.90L from company
Saji Sajeev, a former Assistant Manager (Finance) at IOCL's Rajkot office, has been sentenced to three years in prison and fined ₹90,000 for embezzling ₹18.90 lakh from the company.
On September 30, 2013, a CBI Court in Ahmedabad found him guilty of criminal conspiracy, criminal breach of trust by a public servant, forgery, use of forged documents, cheating, and criminal misconduct.
Sajeev managed to pull off fraudulent cash withdrawals
Between 2005 and 2008, Sajeev managed to pull off fraudulent cash withdrawals from IOCL's GL Cash Imprest account—an internal audit later flagged the suspicious activity.
The CBI got involved in 2011 after an internal probe pointed to Sajeev as the main culprit.
A chargesheet was filed in 2013; after years of investigation and trial, he was finally convicted this week (October 2025).
The case is a reminder that financial misconduct in public sector jobs can have serious consequences.