[Resolved]  Kotak Mahindra Life Insurance — Fraud / misconduct performed by Kotak Mahindra Insurance Company

Address:Faridabad, Haryana

Respected Sir,

With respect and sincere regards, I would like to submit to your kindself that I, Gaurav Kumar Sharma, resident of Sector 30, Faridabad, Haryana had a Policy (Policy No.[protected] of Kotak Mahindra Life Insurance (Kotak Mahindra Bank) for the last three years. I have been paying my premium regularly every year. This year in February, 2011 (dates between 05.02.2011 to 08.02.2011), I got telephonic calls from the Customer Care – Kotak Life Insurance on my mobile No. [protected] regarding the non payment of premium for my above said policy.

Sir, since my premium submission date was over and I was told by the Company representative over phone that they are deputing one of their representative in the name of Deepak to collect the premium in cash as it is already delayed. Fearing that my policy may not got cancelled, I gave the money amounting to Rs. 18,000/- in cash to Shri Deepak and he in turn showed me his Identity Card No. 46425 issued by Kotak Mahindera . The Company representative in turn issue me an acknowledgement Slip No. KP 2537958 dated 24/02/2011 amounting to Rs. 18,000/- from Kotak Mahindera and even gave his mobile No. [protected]. A copy of the receipt issued by them is enclosed herewith for your kind reference please.

Since but till 03.03.2011, when I find on internet that my premium had not been deposited by the representative of Kotak Mahindra, I approached the Kotak Mahindra Life Insurance Authorities through Customer Care and also in person to their Branch Office at Sector-16, Faridabad regarding the above. The authorities were unable to give any satisfactory reply in this regard.

However, to my utter mental disturbance and agony I approached the Duty Officer, Sector 31 Police Station, Faridabad at about 7.00 PM on 04.03.2011 and submitted my complaint in writing but till date I did not got any response from them about the fraudulent act done by the Kotak Mahindra Company.

Sir, this is a clear case of fraud performed by the Kotak Mahindra Bank which is duping the hard earned money of the poor people like me. I think it is a well established case of insiders of the company who pass on information to their representatives to collect the premium in cash and later switch off their mobile so that their whereabouts is not known. Sir, I am middle class family person and does not have enough income to bear such type of financial losses. I am facing both mental stress and financial crisis. I, therefore earnestly request you to kindly look into the matter personally and issue instructions to the concerned to investigate the matter I also fear that in the past also he has done such type of acts and had duped the people with their hard earned money.


Thanking you in anticipation and looking forward for a positive response in the matter at the earliest.

Yours faithfully,




(GAURAV KUMAR SHARMA
Sector 30, Fardidabad-121 003
Contact No. [protected]
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Aug 13, 2020
Complaint marked as Resolved 
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Dear Mr. Sharma

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

With reference to your policy (P#[protected] and subsequent cash payment, we would request you to please provide us with the acknowledgment receipt issued at the time of cash collection.

Post receipt of the same, we will launch an investigation and ensure a proper resolution.

For further queries please feel free to contact our Client Service Desk on[protected] or write to us at kli.[protected]@kotak.com.

Regards, Kotak Support Team

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