Baramati, Maharasthra, 28 Jan 2026: Remains of the Learjet 45 (private jet) carrying Deputy Chief Minister Ajit Pawar crashed near the Baramati Airport runway, at Baramati, Maharasthra, on 28 January 2026.
| Photo Credit:
EMMANUAL YOGINI
The aircraft in which Maharashtra Deputy Chief Minister Ajit Pawar was travelling held ₹210 crore in liability insurance.
The aircraft of VSR aviation, solely insured by ICICI Lombard General Insurance, was valued at ₹50 crore. The private sector general insurer’s exposure under the policy is supported through adequate reinsurance arrangements.
Pawar and four other persons on board the aircraft VT-SSK were killed after it crashed near the Baramati airport in his home district of Pune on Wednesday morning. Of the total five persons on board there were two crew members.
Baramati is an uncontrolled airfield and traffic information is provided by the instructors/pilot from the flying training organisations.
VSR Ventures is a Non-Scheduled Operator (NSOP). The Initial AOP was issued on April 21, 2014. The AOP was last renewed on April 3, 2023, and is valid till April 20, 2028. The organisation currently has 17 aircraft in the fleet.
The aircraft VT-SSK was manufactured in 2010. “This aircraft has a liability limit of ₹210 crore in insurance,” sources told businessline.
ICICI Lombard expressed its deepest condolences to the families affected by the unfortunate aircraft incident.
“The aircraft was insured under an aviation insurance policy issued by ICICI Lombard. Consistent with our prudent risk management and retention framework, the exposure under the policy is appropriately supported through adequate reinsurance arrangements,” it said.
“We remain committed to the highest standards of regulatory compliance and corporate governance. Our teams are closely coordinating with the relevant authorities and stakeholders to facilitate the claims process in accordance with policy terms and applicable regulatory requirements,” the insurance company added.
Published on January 28, 2026
