Originally Posted by nishantgupta

This is to bring to your notice that I was sold one Kotak Super Advantage policy (02009209) by misrepresenting the policy terms/ premiums by one of the Kotak employee. The same employee also forged my father-in-law’s signature and misused his cheque (for premium payment of one policy) to create another policy without his consent.

I have raised several concerns with Kotak Grievance Redressal (kli.grievance@kotak.com) section but have not received any respond from them despite several reminders. I have recorded conversations I had with Kotak regarding the concerns I had which further prove that their employee has sold us the policies by falsifying the policy details/ terms and that Kotak has admitted their employee’s fault. If I am not given any solution in one week’s time, I will take this matter to media and to consumer court.

Below are the details of how Kotak has cheated me and my father-in-law –
• Anurag Sharma, a Kotak employee, has sold one policy to my father-in-law and told him that if he gives him further references than he will get a mobile phone.
• He also misused the cheque given to him as advance payment of premium and created another policy (#2009610) without my father-in-law’s consent.
• Anurag Sharma contacted me and gave me false details regarding the policy. He said that on purchase of a policy I will have to pay the premium for only three years and the policy will mature in a period of 5 years. As opposite to what he has said, I was sold a 20 year policy (02009209) for which I have to pay a premium of Rs. 20,000.00 for 20 consecutive years. This is not only difficult but also impossible for me.
• When I raised concerns regarding this with Kotak Grievance Redressal (July 05, 2010), I received few calls from Kotak. The person informed me that Anurag Sharma has done this with several customers and they have filed a police complaint against him. I was also informed that he in tihar jail. I have this phone conversation recorded on my cell phone.
• Kotak did nothing to take care of the matter. I want to withdraw the policy since I cannot afford to pay for 20 years but Kotak is saying that my first premium of Rs. 20,000.00 will be seized if I withdraw the policy. I am ready to pay the premium for three years (as I was initially told) provided there are not any penalties or charges on this.
• I again contacted Kotak Grievance Redressal section by email on May 03, 2011 regarding the same problem and was told that I will get this addressed by May 19, 2011. Despite of several reminders, no one from Kotak has contacted me regarding this.

Regards
Nishant Gupta
95525 88352

Dear Mr. Gupta,

At the outset, please accept our apologies for this aberration in our service standards.

With reference to your policy, we are coordinating for a detailed investigation and our Customer Care team will shortly be in touch with you on the mobile number you have provided.

For further queries, please feel free to write to us at kli.grievance@kotak.com or contact our Client Service Desk on 1800 209 8800 (Toll Free).

Regards, Kotak Support Team

Originally Posted by nishantgupta

This is to bring to your notice that I was sold one Kotak Super Advantage policy (02009209) by misrepresenting the policy terms/ premiums by one of the Kotak employee. The same employee also forged my father-in-law’s signature and misused his cheque (for premium payment of one policy) to create another policy without his consent.

I have raised several concerns with Kotak Grievance Redressal (kli.grievance@kotak.com) section but have not received any respond from them despite several reminders. I have recorded conversations I had with Kotak regarding the concerns I had which further prove that their employee has sold us the policies by falsifying the policy details/ terms and that Kotak has admitted their employee’s fault. If I am not given any solution in one week’s time, I will take this matter to media and to consumer court.

Below are the details of how Kotak has cheated me and my father-in-law –
• Anurag Sharma, a Kotak employee, has sold one policy to my father-in-law and told him that if he gives him further references than he will get a mobile phone.
• He also misused the cheque given to him as advance payment of premium and created another policy (#2009610) without my father-in-law’s consent.
• Anurag Sharma contacted me and gave me false details regarding the policy. He said that on purchase of a policy I will have to pay the premium for only three years and the policy will mature in a period of 5 years. As opposite to what he has said, I was sold a 20 year policy (02009209) for which I have to pay a premium of Rs. 20,000.00 for 20 consecutive years. This is not only difficult but also impossible for me.
• When I raised concerns regarding this with Kotak Grievance Redressal (July 05, 2010), I received few calls from Kotak. The person informed me that Anurag Sharma has done this with several customers and they have filed a police complaint against him. I was also informed that he in tihar jail. I have this phone conversation recorded on my cell phone.
• Kotak did nothing to take care of the matter. I want to withdraw the policy since I cannot afford to pay for 20 years but Kotak is saying that my first premium of Rs. 20,000.00 will be seized if I withdraw the policy. I am ready to pay the premium for three years (as I was initially told) provided there are not any penalties or charges on this.
• I again contacted Kotak Grievance Redressal section by email on May 03, 2011 regarding the same problem and was told that I will get this addressed by May 19, 2011. Despite of several reminders, no one from Kotak has contacted me regarding this.

Regards
Nishant Gupta
95525 88352

Dear Mr. Gupta,

At the outset, please accept our apologies for this aberration in our service standards.

With reference to your policy, we are coordinating for a detailed investigation and our Customer Care team will shortly be in touch with you on the mobile number you have provided.

For further queries, please feel free to write to us at kli.grievance@kotak.com or contact our Client Service Desk on 1800 209 8800 (Toll Free).

Regards, Kotak Support Team

I am trying to contact Kotak for policy# 02009610 and they have been dragging the case around. I was committed that Bhakti Tayade (from grievance section) will call me regarding this policy but so far I have not received any call.
This is the policy that was created by Kotak without our consent and by misusing our payment made for another policy.