[Resolved]  Aditya Birla Group — Hoax Loan Offer to Sell Insurance

Dear Sir/ Madam Aditya Birla Group has embarked upon Unethical Business Practice by offering Hoax Loan to public from Birla Finance Co. Ltd. to Sell Insurance of Birla Sunlife Insurance Co. Ltd. - Once the Look-in period is over, the Loan Application is Cancelled and the Consumer is stuck with a Policy he/she did not want. The Cronology of Events in my case is as under: 1. On or about 18th May 2013 I receivd a call from one Mr Prosenjit (Mobile [protected]) identifying himself as an employee of Aditya Birla Group and offered me a Personal Loan within 21 Days(max)@10.5% p.a. Interest from Birla Finance Co. Ltd. which I found attractive. He then told me that the main Criteria for the Loan of Amount Rs 2,00,000/-is that I have to procure an Insurance Policy from Birla Sun Life with an Onetime Premium of Rs 18,000/- which I accepted on Good Faith even though I had no need for the Insurance. 2. On 20th May 2013 one Mr Amit Kumar (Mobile [protected]) came to my house and picked up all requisite documents pertaining to both the Insurance and Loan application. Mr Amit Kumar confirmed in writing what Mr Prosenjit had said that my Cheque No. 252531 of Amount Rs 18,000/- drawn on SBBJwas not to be encashed and will promptly be returned if the Loan was not approved. The Document signed by Mr Amit Kumar not only evidences my above statement but also links the hands-in glove operations of Insurance & Finance Companies of Aditya Birla Group. 3. Thereafter Mr Prosenjit became less approachable on Telephone and finally on or about 28th June, I received the Insurance Policy No.[protected]Issued on 20/06/2013, Customer ID [protected]) and to my surprise,the Premium was Annual and not Onetime, also I found the 'Advisor' as Probus Insurance Broker Ltd -a Company I never heard of. After repeated phonecalls to Mr Prosenjit, I received a 'Verification' call on 5th July 2013 from the same Mr Amit Kumar- he assured that the Loan would be Disbursed in 4/5days thereafter. The 15Days Look-in period for the Policy expired shortly. 4. At this point Mr Prosenjit started talking to me rudely and was overtly 'disturbed' by my follow ups and confirmed me on 12th July 2013, that he had 'Cancelled' my Loan Application. On asking for the Refund of my Insurance Premium, he said that it would have to be 'Processed'. 5. On 13th July2013, I sent a Complaint to Customer Service & Redressal Cell of Birla Sunlife Insurance Co. Ltd.and on 26th July 3013, received a half hearted/ unsatifactory reply which did not address any of my concerns. 6. On or about 18th July 2013, I received a call from Mr Jivran Sinha (Mobile[protected]), who identified himself as Manager, Aditya Birla Finance Co. Ltd. and assured me that he would Process the Loan provided I 'Withdraw the Complaint' and he followed up with an Email msg dated 24th July2013 confirming that he would either Disburse the Loan or Refund my Money by 5th August 20013 (pls see below msg dated 24th Aug2013) 7. On 6th August (Yesterday), I was informed by the same Jivran Sinha, that he is 'Cancelling' the Loan and that he will Process the refund in a Week's time The obvious questions that come to mind is A) If the Loan was Not Approved then why was my cheque encashed contrary to verbal & written commitments by your employees? B) If the Loan was Approved, then why was it not Disbursed but Cancelled Twice? From the aforesaid, it is clear that offer of Loan was a Hoax and the real intention here was to Sell Insurance by all means. Till Date I have Not Received the Refund of my Money. Regards Jayanta Dutta, FICS(UK) 233A Jodhpur Park, Kolkata-700068 Mobile: 91 [protected] Email: [protected]@hotmail.com ...................................................................................⇄ Date: Wed, 24 Jul 2013 17:43:42 +0530 Subject: lone From: [protected]@gmail.com To: [protected]@hotmail.com Mr,jayanta dutta This is to inform you that. Mr, jayanta dutta has applied a loan of rupees two lakh's through aditya birla fincnce that is in process due to mail complaint tha loan gets hold from few days. I (Mr,jivrant sinha) wants to tell you that i will complete tha total process of loan in between 5th august 2013. If not,than i will refund your money back in your account by cancel cheque urgently and in tha same moment.а а а аdeat - 2472013 By Mr,jivrant sinhaа aditya birla finence