1. Bharti AXA Life Insurance Company Limited
CIN: U66010MH2005PLC157108
Registered Office: Unit No. 601 & 602, 6th Floor, Raheja Titanium, Off Western Express Highway, Goregaon (East), Mumbai-400063
Corporate Office: 1st Floor, Ferns Icon, Survey No. 28, Doddanekundi, Bangalore-560037
Email: complaints. [protected]@bhartiaxa.com
2. RAP Infosystems and Insurance Private Limited
(Earlier known as RAP Infosystem Private Limited)
CIN: U72300DL2014PTC273345
PAN: AAHCR1192C
GSTIN/UIN: 07AAHCR1192C3ZJ
Registered Address: 9/2113, Gali No-7, Kailash Nagar, East Delhi-110031
Principal Place of Business: RZ-1/46A, Ground Floor, Opposite Fixing Gate Taraf, Street No-2, Tughlakabad Extension, New Delhi-110019
Email: [protected]@gmail.com
3. Mr. Pravesh Rai
(Agent/Person involved in mis-selling)
Mobile: +91-[protected]
Detailed Statement of Facts
In October 2021, I received a phone call from Mr. Priyam Jha (Mobile: +91-[protected]) who falsely represented himself as an official representative of Bajaj Finance Ltd. He offered to arrange a loan of ₹28, 00, 000/- on the condition that I first purchase a Bharti AXA Life Insurance – Elite Advantage Plan. He further stated that the commission normally payable to an agent/broker would instead be paid to me, creating a false promise of financial benefit.
Over the next few days, I was repeatedly contacted from multiple numbers, including +91-[protected], and was pressured to urgently purchase the policy on the pretext that “the loan offer is only valid for a limited period.” The caller also demanded sensitive KYC documents (Aadhaar Card, PAN Card, passport-size photo, cancelled cheque, etc.), which I shared via WhatsApp, believing it was a legitimate loan process.
On examining the insurance proposal, I discovered it was linked to Mr. Pravesh Rai (Mobile: +91-[protected]) and RAP Infosystems Pvt. Ltd., which has since changed its name to RAP Infosystems and Insurance Pvt. Ltd.
Acting on these inducements, I transferred ₹2, 33, 999.22/- from my SBI account via net banking towards the purchase of the Bharti AXA Life Insurance – Elite Advantage Plan (Policy No.:[protected], Proposal No.:[protected].
After receiving the policy bond by post, no representative came to collect the bond or disburse the loan as promised. Instead, I was told I needed to purchase yet another policy from IndiaFirst Life Insurance (Smart Pay Plan, Annual Premium ₹60, 506/-, Proposal No.: P[protected] before the loan could be processed. When I refused to buy the second policy, the caller stopped answering my calls and the loan process was abandoned.
On 03 December 2021, I called Bharti AXA’s Customer Service Centre (Toll-Free:[protected] and narrated the entire incident, requesting cancellation of the policy and refund of the premium. I was informed that the company has no such loan scheme and that my policy could not be cancelled.
Subsequently, I sent multiple written complaints to Bharti AXA Life Insurance and lodged a grievance with IRDAI, but till date, there has been no resolution.
This pattern of misleading policyholders with false loan offers indicates a systemic issue. pattern - “organized mis-selling.”
RAP INFOSYSTEMS PRIVATE LIMITE, Pravesh Rai and Bharti AXA Life Insurance mis-sold policy
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