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Reliance Insurance channel partner A B Capital

India,
Maharashtra

Consumer complaints and reviews about Reliance Insurance channel partner A B Capital

pkbebarta
 
Nov 23, 2013

Complaint of Fraud against Reliance Capital and its agent- AB Capital

Complaint of Fraud against Reliance Capital and its agent- AB Capital
On 21.3.2012, I received a call from a lady caller and introduced herself as Ms. Avantika from Reliance Capital office, New Delhi. She then illustrated a Life insurance plan with interest free loan facility upto the maturity value. On consequent discussions with her and later with her senior, Mr Rajiv, they described that ‘U pay Rs. 25000/- for 10years in Reliance Guaranteed Money Back Plan. You will be given of loan of Rs. 250000/- within two months of the purchase of policy. At the end of the policy, we will not get anything. As such, a policy of Reliance Guaranteed Money Back Plan was purchased on 26-3-2012.
The details of the policy are as follows:
Name of the Policy Holder- PRADEEP KUMAR BEBARTA; Policy No.-50887724; SA-Rs.206000/-; Premium Amt: Rs. 24847.00; Yearly mode; Paying Term-10years; Client Id- 85897711
In this conversation, first they called from a call center no and later she gave her mobile no-09711320171 and her senior Rajeev’s no is 09015147362. As such, I received my policy on 25th of April’2013. Then I contacted them back. She told me that your application is in process and will soon get the loan. But that was the last call recd. And from then, the no of Rajeev was out of service and Avantika’s number was either ringing or switched off.
After a period of 4months, on 26.06.2013, suddenly I received a call from a person named Bipin Choudhary calling from Reliance Capital Office with his no-07503089567 and told me ‘U had applied for loan with the above policy. Are u still interested?’ I gave the answer ‘Yes’ and then he said that he is sending the file for processing. After 2days, he again called me up and told that Ur application is in process and is scrutinized. According to the company norms, I have to deposit Rs.20000/- as security and this will be sanctioned within 3days and the security amount will be released after 7days of sanction. Firstly, I doubted and tried to avoid and told him to call me up at evening as I am busy at office. He told me that I will be calling from the new no- 08285406012. Again in evening, he called me from his new no and repeated the same question and also said that u had been offered as per the conversion with Avantika during the purchase of the policy. When he took the name Avantika as reference of the policy, then I believed that it may be true and then I agreed to pay. He gave me an account no of the Sales Manager of Bodhgaya [[Name- Syed Shahbaz Mujtaba; Account No- 1616000100129632; Bank- Punjab National Bank, Bodhgaya branch]]. I asked me to give an A/c no of any SBI as it will be appropriate. But he told me that no one is having any account in SBI. Later he gave no of a Sales Manager, Arun Kumar, A/c No.- 12641050055794, Bank- HDFC Bank, Gurgaon Branch. But the local bank officials refused to deposit the amount in the said account as it is Salary Account and as per the norms of RBI, cash cannot be deposited by third party. When told to Bipin, he again gave me another account no of Ravi Prasad, A/c No.-14431050003704, Bank-HDFC Bank, Gurgaon Branch. But again, the local bank officials refused to deposit the amount in the said account as it is Salary Account and as per the norms of RBI, cash cannot be deposited by third party. Later on 02/07/2013, I went to the Punjab National Bank Jeypore branch and deposited cash in the account of Name-Syed Shahbaz Mujtaba; Account No- 1616000100129632; Bank- Punjab National Bank, Bodhgaya branch, Transaction No- M380744 Srl No-40. Again, after 2 day he said that the application is in process but as per the terms, the required amount is Rs.45000/- for security. So I had to pay another Rs.25000/- for the loan. Then I paid the said amount of Rs.25000.00 on 05-07-2013 in the same account of Mr. Syed Shahbaz Mujtaba, Account No- 1616000100129632; Bank- Punjab National Bank, Bodhgaya branch, Transaction No- M410278 Srl No-55. And the same was confirmed by Bipin Choudhary regarding the receipt of the total amount of Rs.45000.00. And then the number of Bipin was not reachable/ switched. After 10 days, when called from a different number, he revealed that the application is in the process. After that day the number is switched off.
After 3months i.e. on 25th September’2013, a call was received from Mr. Manish Mittal from Reliance Capital and revealed that the application is in process and I had to pay Rs.20000/- for the approval of loan. When asked about the earlier deposit of Rs.45000.00, he said that this amount is received. Also he said that “ when u believed Bipin Choudhary, have faith on me and I will let the file processed.” When I asked for the receipt, he also said that he will provide the same. He gave the file no- RLI-RC-0079157117 of the loan application.
Hence, this is the brief.
Pl beware of this fraud organization.

Pradeep Kumar Bebarta
Qr.No.SSF/D/4, Irrigation colony,
Jeypore, Dist: Koraput,
Odisha-764003
shraddha_vinod
 
Nov 20, 2013

loan

I am shraddha vinod gurav n bought Guranteed Money Back policy no./contract no.50903537 with tat was offered loan or Rs. 3 lacs which I have not received so far.:(

I would like to know when I will get from your end.
justina
 
Sep 14, 2013

Reliance Life Insurance Garundeed money back policy

sir
I am Justin Mohan Raj, My contract No. 51096572 / My Client Id : 86415333 / date of contract : 16th July 2013. I want to cancel my Life insurance contract immediately, because I am trapped in this contract by A B Capital, Kolkata giving wrong offers of benefits by acting as your company officer, selling directly to the selected reliance mobile customers on the occasion of Dhirubhai Ambani's Birth Anniversary.

When I got the papers from the company, I came to know that I am cheated. His name he said is Mr. Rajiv Malhotra, he is working at Dhirubhai Ambani Knowledge City, Navi mumbai. His Mobil No. 09555569823. Herewith I am attaching what he offered in detail.

1. Pay Rs.50,000/- each for 5 years. Ist year you get Rs.50,000/- as bonus and sixth year you will get Rs.4,45,690/-
2. Free Mediclaim policy for 6 persons for 15 years. The claim limit of 3 lac per year.
3. 3 lac life cover for 15 years. If within 10 years if any thing happen 6 lac will get.

Please refund my money which I paid Rs. 50,000/- by cheque. The first premium. I am a disabled person. Please help me. Thanking you.


Yours sincerely,
Justin Mohan Raj
ranjan vaghela
 
May 26, 2013

Loan

Hello Sir/Madam

I am Ranjan M. Vaghela n bought Guranteed Money Back policy no./contract no.50848824 with tat was offered loan or Rs. 3 lacs which I have not received so far.:(

I would like to know when I will get from your end.

Thank you.
Anand Deshpande
 
Mar 6, 2013

Fraud done by A B Capital and Snowtex investments

Reliance insurance advisor A B Capital has deceived me by opening 5 Reliance policies. Please cancel these policies and give my money back

Hello Sir,
My name is Anand Deshpande and am staying in Pune. I am cheated by private insurance brokers and need

your help in settling my policies.
Two years back I got a call from a lady(09911154881) saying she is calling from Reliance corporate

office. They said there is a very good policy which yields 15% returns and i need to make investment

of 50000 every year for initial three years.So i found it lucrative and i invested in it. I opened

Reliance Cashflow Plan Policy on 30th July 2010 Contract No. 17613398 and Client Id 76658574 and

Advisor code number was 21056500.
After 6 months they called me and told me about another very good returns child policy that would

yield good benefits. So I opened another Child Policy of Rs.50000 on 7th January 2011 with Policy No.

18373304 and Client Id number 76658574 and Advisor code Number was 20902625.
After six months I got a call from another person saying both policies are opened from Vighnaharta

Direct Insurance Broking Pvt Ltd and they take 30% brokerage. The person said his name is Arvind

Sharma and his mobile number was 07385251469. he said he is calling from Mumbai Reliance corporate

office. He said to avoid loosing all 30% commission I should open different policies.
So I opened
Reliance Cash flow plan by investing Rs.30,000 on 8th April 2011. Policy No, 18873475 and Client Id

79618929, Advisor name Jeevansuraksha Insurance Brokering Services Pvt Ltd.and
Reliance Life Insurance Money Multiplier Plan - Amount Rs.29524.20, Policy no. 19239433, Client Id

80785679 and Advisor name A B capital. Date:20th Aug 2011
They said my amount has gone up by 50% and I'll receive s.4,00,000. But I need to open another

policy. This way I ended up investing in following policies.
Reliance Life Insurance Money Multiplier Plan - Amount Rs.24830.00, Policy no. 19782193, Client Id

82056916 and Advisor name A B capital. Date 3rd feb 2012 (this taken on my wife's name).

Birla Sun Life Vision Plan Policy No. 005664883, Issue date 16/07/2012 Amount:25000/-. Advisor:

Snowtex Investment Ltd Advisor code 0-01639.
Birla Sun Life Vision Plan Policy No. 005935638, Issue date 30/01/2013 Amount:25000/-. Advisor:

Snowtex Investment Ltd Advisor code 0-01639.

I was told to open above last policy and I'll get returns of Rs. 690000/-. So finally i tried last

policy. But I haven't got any money back. i am worried as my whole savings have gone in these

policies and I need your help to find a way to settle and cancel above policies as I can't pay now.

The person involved in these fraud are:
Anil Sharma, Santosh Sharma, Arvind Sharma - 022 30247030/28/27/19.Mobile:07208696133.
They are A B Capital and Snowtex investments advisors.

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