Name of company/service: LIFE INSURANCE CORPORATION OF INDIA
With due respect I would like to bring to your kind knowledge that my grandfather late Shri. A. Mahalinga Pandaram (Retired Govt Teacher), had purchased a fully paid-up share of Rs.10,00,000/- for Rs.1.00/- from The South India Co-operative Insurance Society Ltd., on 24/06/1937 which was situated in the Armenian Street, Madras. His Share Certificate number is 4589 and he had also insured in the same concern of which the policy number is 5161. The share number is also mentioned as 50928. We were not aware of The South India Co-operative Insurance Society Ltd as it was the oldest organization in India. He had also received a Bonus certificate on 14/03/1950 for Rs.13 which has been added to his Insurance Sum Assured. So, we had approached The President of India regarding this as I had read that the unclaimed dividend and other funds were under the control of The President on 04/02/2011. On behalf of us they addressed us to approach The Ministry of Corporate Affairs on 11/02/2011. On 10/01/2012, after a thorough investigation by The Ministry of Corporate Affairs, they had asked us to directly approach Life Insurance Corporation of India for the earliest settlement of the claim as The South India Co-operative Insurance Society Ltd had now been taken over by the Life Insurance Corporation of India.
IRDA has also written a letter stating the same and to approach the Life Insurance Corporation of India on 15/02/2012. I have also received a letter from the The Senior Branch Manager, Life Insurance Corporation of India, Namakkal asking the details of the certificate and other things on 20/02/2012. I have furnished all the details above and have also attached the copies of the replies which I have received throughout this communication to him. But, till now I had no reply from them. Therefore, I humbly request your good self to consider this as a special case and make arrangements to settle the claim at the earliest.
S/o, M. Kannappan,
2/302, Sathya Nagar,
Namakkal – 637003