In this paper, simple phase variable model of a five-phase induction motor drive is presented. The model is implemented using MATLAB/SIMULINK software. A number of electrical faults which are common in inverter fed drives are created. The faults considered are open circuit faults in one phase and two phases. As these motor drives are intended for disturbance free operation, the analysis of these is an important aspect to investigate under different faults. Simulation results for each fault have been provided and their detailed analysis has been carried out. Experimental proof is also provided to support the findings.