Location/place: B-5/25 1st floor,Sector-17, Rohini, Delhi-85
Name of company/service: Kotak Mohindra Bank Ltd.
Sub. : Cheating & harassment by Kotak Mohindera Bank Ltd. in providing Insurance
Policy No. 01789839 ( Not as requested ) in the name of Ravi Arora
Dear Sir,
It is a matter of great concern that one Executive of M/S Kotak Mohindera Bank Ltd namely Mr. Sandeep Sharma working in Sector-3, Rohini, Delhi contacted me & I had desired an Investment Plan with the following terms.
a) The premium of Rs. 3,000.00 will be deducted from my HDFC Account no.
03931040000393 on half yearly basis.
b) Plan should not be market related.
Mr. Sandeep Sharma get the documents signed for arranging the desired Policy. However, when the policy was not received after passing abnormal time & the premium was started to be deducted on monthly basis from my above Bank Account then through net banking, information was obtained. It was my surprise when I came to know that unwanted policy ( Premium on Monthly Basis & Market Linked) was issued by M/S Kotak Mohindra Bank Ltd. ( Documents & policy not received). The authorized person of M/S Kotak Mohindra Bank Ltd. i.e Mr. Sandeep Sharma used my signed documents for other policy which was never requested & not disclosed/elaborated at the time of taking the policy.
I did not receive any document /policy even after passing months together. But, when, I received the papers on dated 8th , November, 2011. , I immediately furnished cancellation request.
Form more than a one year, I have been continuously following up the matter with M/S Kotak Mohindra Bank Ltd. & details of a few mails are given below:-
S.No Date Mail to
1 21.05.11 [email protected]
[email protected]
[email protected]
2 21.07.11 & 25.07.11 [email protected]
[email protected]
[email protected]
& Grievance cell of Kotak Mohindra bank Ltd.
3 28.08.11 [email protected]
But sorry to record that my refund amount rounding to Rs. 30,000.00 has not been made available to me so far.
In response to my above & other several reminders, the following reply was received on dated 05.09.11:-
That the policy (1789839) was issued to you as on November 28, 2009. The policy documents were dispatched to your mailing address as on November 30, 2009 by Blue Dart Courier vide AWB number: 43607926611. The same has been received as on December 01, 2009. We have also sent you an SMS alert on your mobile number 9891110122 as on November 28, 2009 intimating you about the policy being processed.
With regards to your request for the surrender of the policy, we wish to inform you that the policy cannot be surrendered within the period of 3 years. Further, we wish to state that you were offered a free look period of 15 days to go through the terms and conditions of policy.
In response to the above reply , I made my points clear in my mail dated 21.09.11 as under :-
That first of all, I haven’t received any documents and any information on the message.
Secondly, if the courier guys is made wrong delivery then its not my fault hence kindly show me the concerned documents where I have received the documents.
Thirdly, I myself chased you guys for non receipt of the policy documents as soon I get the documents after chasing your guys for 9 months, I immediately surrendered the policy.
Fourthly, if according to you guys ,I have received the documents than why they accepted and received my free look request.
Your guys very well knows that its mistake on the part of M/S Kotak Mohindra Bank Ltd.
I very well know that free look period is of 1 day & hence I surrendered it on the very next day on receipt of the documents.
In the latest reply of, M/S Kotak Mohindra Bank Ltd. dated 2nd July,2012 is as follows :-
“We regret the inconvenience caused to you and apologize for the same. We will investigate the matter thoroughly and resolve the same within 2 weeks. Request your patience & co-operation.”
As promised above after passing 4 weeks’ time, my refund which is about Rs. 30,000.00 has not been made available to me so far.
From the above, it is amply clear that chasing the matter for more than a year ,M/S Kotak Mohindra Bank Ltd. are not keen to resolve the grievance of their customers & knowingly misusing the hard money of the general public through unfair & malpractices.
Under the above circumstances, I approach your good office to take appropriate action against M/S Kotak Mohindra Bank Ltd. so that my hard money is refunded to me without any further delay.
Thanking you in anticipation,
Ravi Arora
B-5/25 1st floor,
Sector -17 ,Rohini
Delhi – 85
(M) +91-95557-23331
Mail ID : [email protected]
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