The CBI has filed a chargesheet against five persons,including former Oriental Insurance Company (OICL) chief M Ramadoss and Paramount Airways (PAPL) promoter Murugesan Thiagarajan for causing loss of over 441 crore to the government and favouring the airways by issuing credit insurance policies in violation of the rules. The CBI has alleged that OICL issued 220 credit insurance policies in favour of PAPL which were used by the company to obtain bank guarantees from banks for purchase of fuel,aircraft,airport,charges,etc.
