[Resolved]  Lic Of India — cheating

Sub: LIC of India not taking action against Sri S.S.Prusty LIC agent, who had miss utilized the pay orders which were issued in favour of LIC of India by the under signed.
R/Sir,
I the under signed a Railway employee, I handed over pay orders for Rs. 2, 10, 000/- in favour of LIC of India to Sri S.S.Prusty, LIC agent, Asika Branch, Berahampur, Orissa for making ‘Money Plus’ policies in my favour in the month of January 2007. But he miss utilized the total amount and when I asked to return the amount, he could not able to refund my money but he accepted in a court affidavit that he has miss-utilized that amount and he will refund the money within two months. After that, more than one year passed but he has not returned my money. I complained LIC of India producing court affidavit and all other evidences. I complained to Chairmen, LIC of India, Mumbai and Marketing Manger. I have sent Fax messages to all the Head LIC branches to take action. One year passed but no action is taken by LIC of India till date. I am not only the victim person but some other persons also complained in a similar way against him.
If such LIC agents will be continued in LIC of India then day to day victims like me will rise day by day. LIC of India to take strict action against him and if not possible to get back the amount at least they should terminate him from the agency immediately but why they are not terminating him immediately I could not understand.
Sir, may I get any help from you in this matter? If you can help me in this matter then please do needful. My email address [protected]@yahoo.com mentioned for your kind reply sir.
Thanking you Sir,

A.V.C.Rao,
Date: 20.08.08 Rly Quarter No. A/3/E/1
AEN Colony, Kommapalli
Brahmapur, M- [protected]
Was this information helpful?
No (0)
Yes (0)
Aug 14, 2020
Complaint marked as Resolved 
Complaint comments 

Comments

From, Date : 14.02.2009

V.Ramesh,
C/o Kalayanasundram,
4th Street 31/B-3,
Rajagounadampalayam,
Suriyampalayam (p.o)
Tiruchengode (T.K),
Namakkal (D.T),
Tamilnadu.
Cell :[protected]
[protected]@rediffmail.com
To,

LIC Of India,
Mumbai.

Sub : Requsition for change of Bond Reg.
Bond No[protected] &[protected]

Respected Sir,

I invested Rs 50000 and Rs 40000 in LIC Money Plus - Growth fund through
the agent Mr.P.C. Sakthivel Thiruchengode Branch Tamilnadu on 27.06.2007. He had
given a statement that it is a LIC Money Plus Single premium Policy .No need to pay
Yearly you can withdraw money at any t ime with balance.I also agreed and handed
ower the money to him. After investment we got a bond from him later I enquired him
Regarding the money on the date of market value but he did not respond to us properly
So I enquired in LIC branch office and development officer told that “your two investment are in regular premium growth fund you did not pay for two years premium
So it was lapsed then only realised that LIC agent had cheated me because invested
my money is regular premium. Then I had given complaint LIC branch office Tiruchengode and grievance e rederseal office Division office Salem and ombudsman Chennai on date 18.01.2009 till now I did not get any response from them . So please
Kindly Consider us and make arrangement to get my full monetary amount without
Any deduction.

Kindly to the needful as soon as Possible. Thanking you you in anticipation.


Yours faithfully
V.Ramesh
Copy to :

IRDA
Hyderebad – 500004.
From, Date : 14.02.2009

V.Ramesh,
C/o Kalayanasundram,
4th Street 31/B-3,
Rajagounadampalayam,
Suriyampalayam (p.o)
Tiruchengode (T.K),
Namakkal (D.T),
Tamilnadu.
Cell :[protected]
[protected]@rediffmail.com
To,

LIC Of India,
Mumbai.

Sub : Requsition for change of Bond Reg.
Bond No[protected] &[protected]

Respected Sir,

I invested Rs 50000 and Rs 40000 in LIC Money Plus - Growth fund through
the agent Mr.P.C. Sakthivel Thiruchengode Branch Tamilnadu on 27.06.2007. He had
given a statement that it is a LIC Money Plus Single premium Policy .No need to pay
Yearly you can withdraw money at any t ime with balance.I also agreed and handed
ower the money to him. After investment we got a bond from him later I enquired him
Regarding the money on the date of market value but he did not respond to us properly
So I enquired in LIC branch office and development officer told that “your two investment are in regular premium growth fund you did not pay for two years premium
So it was lapsed then only realised that LIC agent had cheated me because invested
my money is regular premium. Then I had given complaint LIC branch office Tiruchengode and grievance e rederseal office Division office Salem and ombudsman Chennai on date 18.01.2009 till now I did not get any response from them . So please
Kindly Consider us and make arrangement to get my full monetary amount without
Any deduction.

Kindly to the needful as soon as Possible. Thanking you you in anticipation.


Yours faithfully
V.Ramesh
Copy to :

IRDA
Hyderebad – 500004.
From,

V.Ramesh,

C/o Kalayanasundram,

4th Street 31/B-3,

Rajagounadampalayam,

Suriyampalayam (p.o)

Tiruchengode (T.K),

Namakkal (D.T),

Tamilnadu.

Cell :[protected]

[protected]@rediffmail.com

To,
The Branch Manager

LIC Of India,

Tiruchengode.

Sub : Consider my Compliant and return back Rs.90000/-

which I have invested in LIC Money plus.

Ref : Bond No[protected] &[protected]




Respected Sir,

Already I have given compliant against Mr .P.C.Sakthivel

on 19.01.2009. H e explained to me about LIC money plus

– growth fund single premium and I handed over Rs 90000/-

to him in favour of LIC of India. He got my Signature alone in

proposal form and said that he will fill up all the other details.

But he invested my money in regular premium instead of

Single premium. He cheated me. Now my policy is in lapsed

stage.You also didn’t reply to me for my previous Complaint

Sir. So I am in crisis situation. So humbly I request you to

accept and consider my complaint and please return back my

total amount Rs.90000/- which I have invested in LIC money

plus on 27.06.2007. Kindly do the needful as soon as possible.

Thanking you in anticipation .

Your faithfully.
Date : 03.03.2009

Place : Tiruchengode. V.Ramesh
LIC is a cheating business. They accumulate money from the public. But they never give back properly. If someone surrender the policy, even the paid premium also not given back. Such a nasty business.
Dear Sir,
With due respect I am having a very serious complain regarding an agent of LIC named Mr. Neeraj Verma (Z.M. & M.D.R.T. Club Member ) (R/o 538/32 G, Alok Nagar, Ahibaranpur, Sitapur Road, Lucknow) Mob No. [protected], [protected].
Approximately in 2002 he selled us a policy in which we were expected to pay 10,090/- once in a year and told that you will get the maturity in March 2010. And the maturity amount will be 1,30,000/- When the maturity time comes we only received 96,600/- (chq no.- 858483 in the name of Smt. Meena Rastogi - My Mother). He not only told us about the fake maturity but even wrote in his hand writing on the file in the year of 2002. If you will want it, I will mail it also.
After all this when we called him and told about all the matter he tells that I have given you the approximate amount, Can you tell me that approximate amount fluctuates up to more than 26% ?
We are having nine more policies of LIC. It was the first one in which we got 34000/- less from the commitment, what about others?
Now please tell that what should we do?
If one policy creates the loss of 34000/- all others will reach together on 3.5 lacs approximately.
A person takes the policies for his future and for his further expenses but if He or She will get 3.5 lacs less in the expected amount how anybody can trust on such a big banner (LIC). We are very old customers of LIC (about 15 years), but when we will get this output what about others.
If you want to see all the documents I can mail it or I can come to your office also.
I just only want a very serious action against the above said guy so that he cannot make more fools.
Also please mark me a mail about the action you have taken against him.
From
Nagabhushana Reddy P.B
99/1B, Bindu Nilya Rama Rao Layout,
BSK 3rd Stage, Kathriguppa Main Road,
Bangalore-85
Hand Phone – [protected]
& other 16 Persons

Date:[protected]
BANGALORE

TO
Kindly Attn: Executive Director
CRM Deportment
LIC of India Central office, Vigilance Department
4th or 7th Floor, Yogakshema Building,
Jeevan Bimamarg, Nariman Point,
Mumbai – 400021, Phone No – 022 – 22810687

Kindly Attn: Mr. R.G. Subramanian,
Chief Vigilance Officer
LIC of India Central office, Vigilance Department
4th or 7th Floor, Yogakshema Building,
Jeevan Bimamarg, Nariman Point,
Mumbai – 400021, Phone No –[protected]

Dear Sir,

Sub: Complaint against K.P. Rama Reddy (LIC of India as a Development Officer Hiriyur Branch Karnataka) All your authorized departments.

I am sri. Nagabhushanaa Reddy, s/o P. S Balachandra Reddy residing at No.99/1, Bindu Lilyan, Rama Rao layout, Banashankari 3rd Stage, Katriguppe Main Road, Bangalore-560085 & other 16 Persons.

Please note that the below we are given compliant agents to him 23/02/10 this issue over more than 4 years already & we are please noticed all your authority departments (attached all cops) till date nobody has been not interest to turn on this issue to of intervening and helping the customers!!!, its requesting to you kindly look & cross check with him & all departments concerned person.

Note- Some impartment information to Mr. K.P.Rama Reddy & Branch manager.

01. 2005 to 2009 he not working properly in branch but he taken salary everything & branch manager involved in this case, as per the K.P. Rama Reddy It also intimated that the wife of the said K.P. Rama Reddy, Smt. Sudha has filed a complaint against agent Mr. Prassanna Kumar and one Mr. Nataraj who have cheated her husband.

02. It is submitted that despite the production of the above said materials the higher authorities have not taken any action against the first and the second accused which shows the active and collusion of the higher authorities with defendants. It is further submitted that that after receiving the notice the first defendants told the first plaintiff that he had already fixed his higher officials by paying bribe to them and no action will be taken against him by them and told further that no action will be taken against him even another ten complaints filed by the first plaintiff. The first plaintiff informed the same to the higher authorities and they demanded LIC police & bribe to take action against the other defendants. ( we are did polices in branch (P.B Nagabhushana Reddy Police No –[protected] & K. S Ganesware[protected] & played Rs. 75000/- bribe also to manager in the month of November 2009) Hence the plaintiff without any other alternative approaching this, for craving justice after tiered of the losing money and by the demanding bribe to do their work and by the corrupt nature of the higher authorities.

Here with sending you a reminder after issuance legal notice by my advocate.
With respect to above topic that I had been persuaded and induced by your development officer K.P. Rama Reddy (who is working in your Hiriyur branch) to invest in your Corporation and believing words and the reputation, stature and the quantum of faith and confidence which has been maintained by the Life Insurance Corporation myself and also my friends and relatives invested and paid the money to above said K.P. Rama Reddy, which he has taken cash & the account number given by as K.P. Rama Reddy who is your development officer. The amount invested by me and also my friends and relatives was Rs 58, 000, 00/- (Fifty Eight Lakhs.) After this when no receipts and the bonds were not given to me neither by your esteemed authority or by the said K.P. Rama Reddy and whenever asked by me he used to give evasive answer that since the amount invested was heavy and hence the receipts are required to come from Bombay head office. I believed it and when no receipts were being given I came to your Hiriyur branch and filed complaint on[protected], against said Rama Reddy to take legal action on him and requested your authority to issue receipts and bonds and subsequently your esteemed authority issued notice to him. As a result of this the above said K.P. Rama Reddy sold his house on[protected], and paid Rs 15, 00, 000/- (Fifteen Lakhs) to me, his friends, relatives and same day your staff K. P. Ramareddy taken the signature in the band paper also with 03 person witness signature, assured them that he would pay the balance amount as soon as possible but till today has not paid the balance amount. After this I sent Email on[protected], expressing my hardship dissatisfaction as no action was took by your authority and requested your office to intimate me as to what action taken by your esteemed authority against the said K.P. Ramareddy. Even after this I kept on sending Emails on[protected],[protected],[protected],[protected],[protected], and demanding legal and disciplinary action against him.

After this I sent the letter 23/07/ 2010 and demanding legal and action him. This being the case I am shocked to see the letter sent by your esteemed authority dated[protected], which was attached with a letter that shows that I have withdrawn the complaint. It is a false and forged letter given by the said K.P. Rama Reddy. It came to the my knowledge that the said K.P. Rama Reddy forged the my signature and produced false letter dated[protected] and subsequently your esteemed authority by believing him issued letter to me. It is intimated that when the balance has not been paid by the said K.P. Rama Reddy no question of settlement. Subsequently I sent Emails letter rejecting settlement and also asked your branch to give who had submitted that letter to your office which shows that the matter was settled between us but your office till today not disclosed the name of the person who submitted that letter to your office which shows that you are protecting that person. I kept on sending Emails on[protected],[protected],[protected]. Subsequently your office sent a letter dated[protected] & also send letter[protected], in your authority says that it is a matter between said K.P. Rama Reddy and us LIC has nothing to do with it. It is hereby intimated that he is an employee of your LIC and inducing people to invest in your LIC and you have appointed him for that purpose as development officer and paying him salary, for that work. He is cheating innocent people by taking the advantage of working in your LIC and you silently allowed him to cheat people by using the name of your LIC and now saying you have nothing to do with this. People like me believed him and invested only because they trust, repose confidence, believe LIC as faithful corporation and he is working in your authority. You are protecting him and evading your responsibility being principal and there by breaching the trust what people kept on your corporation. It is hereby clarified that there was no settlement and your esteemed authority is intimated to take up action and stay and withheld all the payments including his salary, incentives, his commission and all sorts of payment to him by your authority. It also intimated that you being also responsible for the acts of your agent as principal. You are hereby requested the bonds and receipts forthwith otherwise I will take the matter to media in order to aware the general public to avoid further cheating by your agent as well as you. I will also initiate legal action against your agent as well as your esteemed authority both under civil and criminal law in order to get justice for which you and your agent are liable for all the expense and cost and other consequences. I have sent legal notice through my advocate for which you replied and express that it a matter between me and the said K.P. Rama Reddy It also intimated that the wife of the said K.P. Rama Reddy, Smt. Sudha has filed a complaint against agent Mr. Prassanna Kumar and one Mr. Nataraj who have cheated her husband. It is intimated that in the said complaint she clearly admitted that she and her husband took money from me, my friends and relatives. Subsequently a paper notification was also given by the police against those agents. I am here with sending the copy of that complaint and paper publication for your kind reference and request you to take proper disciplinary action against him.

I declare that the above information is true & correct to the best of my knowledge.
We hope that our request will be fulfilled as early as possible

Note- Attached for your reference.

A. Covering letter copy all mail copy’s,
B. My Forger Signature Copy issued to branch & divisional,
C. K.P. Rama Reddy, Smt. Sudha has filed a complaint against who have cheated her husband,
D. As of now we paying 11 years as per the all attached police nose,


Thanking You

YOUR’S FAITHFULLY

Nagabhushan Reddy P.B & other 16 Persons.

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    By clicking Submit you agree to our Terms of Use
    Submit
    Life Insurance Corporation of India [LIC]
    customer care contact
    Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good a company is at responding and resolving complaints by granting from 1 to 5 stars for each complaint and then ultimately combining them all for an overall score.
    Read more
    36%
    Complaints
    6212
    Pending
    0
    Resolved
    2214
    Life Insurance Corporation of India [LIC] Phone
    +91 22 2217 8600
    +91 75 5267 6254
    Life Insurance Corporation of India [LIC] Address
    LIC Central Office, 2nd Floor, Jeevan Bima Marg, Mumbai, Maharashtra, India - 400021
    View all Life Insurance Corporation of India [LIC] contact information