Fraud in Selling Insurance Policy – SNOWTEX INVESTMENT LIMITED is agency of Birla Sun Life Insurance Co. Ltd.

Jun 26, 2012

—

in Banks and financial institutions, Others

Location/place: Mumbai

Name of company/service: SNOWTEX INVESTMENT LIMITED is agency of Birla Sun Life Insurance Co. Ltd.

Myself is Sushant Mayekar from Mumbai, I got a call saying calling from ICICI Prudential regarding to my lapse policy. Stating that I will get all my returns from ICICI Prudential with Bonus within 90 Days. To claim this they told me that I have to take one endowment policy of Birla Sun Life ( on query they told there is recently tie up of ICICI Prudential and Birla Sun Life) ( I enquired this with ICICI Prudential’s call center which is not a case)
After taking plan, within 10-15 days team of 3 people (1 from IRDA + 2 from Insurance co.) will come to my residence to hand over letter of old policy claim amount. They have the answers to all our queries.
Finally, after 15 days I agrees to take policy keeping in mind that if they cheat I will cancelled the policy within free look, and document person comes to me with forms, in that I found one paper in the name of Snowtex Investment Ltd. I immediately search in Google for this name and I found so many complaints against this company from various location of the Country. I called Mr. Shirish Kulkarni, who has got trapped by these peoples. So I quit myself from the loop.
Even though I have not trapped, I expect stern disciplinary action against the person involved with this kind of fraud. For reference kindly find details of the following who dealt with me with the application.
1. Sanjay Sonawane – 95273 96118. (Senior Manager)
2. Shashank Shinde – 95945 20801.
3. Document collection boy – 97020 58116
4. Niranjan – 8149342074
Landline no.s are 022 – 30247069 / 53 / 25 / 32 / 38 & 31902066.

I also found from internet that SNOWTEX INVESTMENT LIMITED is agency of Birla Sun Life Insurance with Advisor Code is 001639. So, Birla company immediately should discontinue their agency with penalty and help the society to save from such fraud cases. Also IRDA should take stern disciplinary action against the person involved with this kind of fraud.

Sushant Mayekar (Mobile – 96196 88925)

Comments

9 responses to “Fraud in Selling Insurance Policy – SNOWTEX INVESTMENT LIMITED is agency of Birla Sun Life Insurance Co. Ltd.”

ICICI Prudential Life Insurance

July 10, 2012

Dear Mr. Mayekar,

We understand our representative has contacted you and resolved your concerns. Accordingly, a communication via email has been sent to your registered e-mail address.

In case of any futher clarifications, please contact us on our toll free number 1860 266 7766 or write to us at [email protected].

Regards,
ICICI Prudential Life Insurance
Kedar

July 21, 2012

This is kedar meher from mumbai. I am also a victim of this company (selling another policy by offering bonus on prevoius policy) .
I am having strong feeling that birla sun life’s authorized persons are also involved in this scam. So they are just ignoring such complaints and those crooks(snow tex) are still selling their policy with the fake offer.

Those who are getting suffered from this company please contact me on 9969442004 ([email protected]).
I want to take this to the one of the famous political party in the mumbai with the relevant proofs.

Please help me in this effort beacause I need heavy support for such activity.
nilesh shete

August 6, 2012

me nilesh shete also suffer from snowtex’s fake commitment of giving 76000 on 28 jully, MR, santosh sharma from snowtex give me guarrant of return so i invest 20000 more, and now when i call for my payment no one give reply , snowtex investment is a fake company, please dont invest in any BIRLA life insurance policy till they didnt discontinued snowtex. NIlesh 9321777050
Kumar Dhanwani

October 20, 2012

Hi Kedar,

I am also a victim of these crooks from Snowtex. Sanjay Sonawane from Snowtex called me in May 2012 and said that he is a Senior Manager from ICICI and is in talks with IRDA for bonus to people who have a policy with ICICI. He asked me to start a new endowment plan with Birla Sunlife saying that as ICICI policies are in a loss, they have tied up with Birla Sunlife as Birla is in a strong position and have good profits. I started a new policy with a premium of RS. 25,000 p.a and he said that I will get the bonus for my old ICICI policy within 30-40 days. In the free look period he regularly called me so I do not cancel the policy and moreover asked me to invest RS. 25,000 more and I will get an extra bonus of Rs. 50,000. I said no as my mom has some health issues and was about to get operated in June 2012. Now when I call them, nobody answers and if someone answers they ask who I am and then say that Sanjay Sonawane is in a meeting and will arrange for a callback, but nobody calls back. I strongly support you, lets join hands and make Snowtex repay for everything wrong they have done.
Kumar – 08055431005
ICICI Prudential Life Insurance

October 22, 2012

Dear Mr. Dhanwani,

We regret the inconvenience caused. Our representative will get in touch with you in the next 4 hours to help resolve your concern.

We appreciate your patience.

Regards,
ICICI Prudential Life Insurance
s a pawar

October 25, 2012

I have been conned in a smililar way by saying that your Metlife policy which has got lapsed can be renewed through Birla Sunlife policy.

Kindly look in the matter as we have totally invested Rs.6000/- towards investment.

I think Snowex Investement Ltd is cheating and severe action needs to be taken against them
ICICI Prudential Life Insurance

November 6, 2012

Dear Mr. Dhanwani,

We understand our representative has contacted you. Accordingly, a communication has been sent to your registered email address.

In case of any further clarification, please contact us on our Customer Care number 1860 266 7766 or write to us at [email protected].

Regards,
ICICI Prudential Life Insurance
Kumar Dhanwani

January 16, 2013

I did receive a call from ICICI but its not their fault, so cannot expect a resolution from their end. I want Birla Sunlife and Snowtex to call me and discuss this further.

Thanks,
Kumar – 8055431005
surajit datta

August 20, 2014

surajitdatta

Aug 20, 2014
BSLI Birla Sunlife insurance fraud selling
Dear all,
we got phone calls from Aditya birla Finance named as ruddrajit from no. 8981110946 in 2012 asking for requrement of any loan from aditya birla finance. as we were looking for business loans we asked them the terms. it was stated that if we deposit 5% of loan as equity one time, we shall get a loan of 95% at 10% interest.they have sent one guy named sanjay of Snowtex Investment Ltd.(the authorised agent of BSLI) to my house to collect cheques for 5% amount and also cancelled cheque for direct transfer of loan amount.they have got forms of application of loan amount and bond signed blank without filling the same by us. then we surprisingly got 2 bonds of Birla sunlife and when asked they have sent the same person to collect those original bonds within the free look period as they said these were required as security against loan.after some days we tried to contact them but their phones remain switched off.we complained to BSLI in writing 3 times to refund our money of 85000/- deposit and cancel the policy bond.however till date we were not refunded the same. we have lodged a complaint in 013 to Kolkata district consumer forum for recovery of amount but there also BSLI is denying charges shamelessly.we demanded full amount with interest etc.
requesting all the victims to jointly approach to Consumer court and give lesson to BSLI and campaign negatively of BSLI in west bengal. A compensation case has been filed by GOWB against BSLI for such way of wrong selling.