If the Company has a Medi-claim Policy,then irrespective of the fact of accident, he can get reimbursement/payment through the Insurance Company as per the Policy.Moreover, ESI Act/WCA are not applicable to all categories of employees.Further, the said Act will be applicable in the instant case , provided the accident has taken place during the course of employment or was incidental to employment.There should be some nexus between the employment and the cause of accident,FIR and other formalites should be completed in time to pay the compensation.In this connection, court decision referred very nicely by one of the experts bove, will be very helpful.He may be requested to refer the relevant case law, so that it can be studied in more depth.
In addition to above , on humanitirian ground, deviation could be made from the Company's Policy, with the specific approval of the Competent Authority,
Best course would be to place the matter before the Board of Directors for an apprpriate decision or to seek its post fact approval by obtaing in principle approval from your M.D./C.M.D.