[Resolved]  Birla Sun Life — Fraudulent and Inefficient Management

Address:

West Delhi, Delhi

I invested Rs. 12,000 in Birla Sun Life Mutual Funds in Feb 2008 (Polcy Number[protected], and had given instructions to deduct EMIs of the same amount every month from my savings account, through ECS. To my shock, despite several phonecalls to the Helpline, this money was never taken out except the 1st Installment. I complained this several times to the Call Centre Supervisors.

It turned out to be a Blessing in disguise for me, as when being completely fed up with the situation and on the display of extreme unprofessionalism by M/s Birla Sun Life, I requested them to refund my investment with them.

Till date, despite several reminder calls, letters, visit at their Branch Offices and emailing the scanned handwritten letters, I have not got a courtesy call, leave apart my invesment blocked with the Organisation. I strongly believe that the Company has held the money for illegal/ corrupt/ unfair trade practices and have no set up procedure for anyone addressing the concern at their end for the withdrawal or reimbursement of the policies. The entire focus of the Organisation is only towards Hard-Core Telemarketing and Field Executives and their Marketing and Sales Pitch and Loud Business Communictaion strategies.

I now received a call stating that since the Locking period is not completed, the money cannot be withdrawn, which surprises me as being a consumer I am bounded by the clause, despite my several attempts to make the regular payments. There was no action taken by the Organisation to withdraw the money due on the policy, hence causing the lapse and irrepairable damage. Hence, I should be allowed to withdraw from this binding clause due to the inefficiency to perform the requirement by the Party, M/s Birla Sun Life.

I URGE ALL TO NEVER EVER BLOCK A RUPEE OF THEIR HARD EARNED MONEY WITH BIRLA SUN LIFE AND PLEASE SUGGEST EVERYONE IN THEIR SOCIAL CIRCLES TO BE AWARE OF THE FRAUDULENT ORGANISATION.