[Resolved]  Lic Of India — Cheating regarding

Address:

Jammu and Kashmir

I have opted for a money back LIC policy No.[protected] for Rs.350,000/-, taken through LIC Agent Gulzar Ahmed on[protected] at LIC Branch Budgam, Jammu and Kashmir State. I used to deposit my half yearly installments at the said branch regularly amounting 11590/-. As per the policy I had to get 20% of the insured amount after every five years, as the first installment was due on[protected]. I was expecting and waiting for the said amount to be deposited in my account. However, to my surprise I could not found any response from the company. Finally I approached LIC head quarters on[protected] at Lal Chowk Srinagar to claim for my money where I was asked to submit my 16 digit bank account number, bank transaction statement and pan card details. I submitted these documents on the same day and was told that the money will be transferred into my account within 7 days. However, I could not get any amount credited into my account by LIC till[protected] i.e. even after 20 days. To enquire about the delay for getting my money I went to the LIC Unit Budgam where to my utmost shock and surprise I was told that a cheque amounting 70,000/- has been handed over to a LIC agent namely Mohd. Maqbool Lone bearing code no. 0079614A who has fraudulently put my signatures and other details and managed to get my money (Proof attached).
Even if this fraud was not sufficient the concerned Manager at LIC Br. Budgam misguided and mishandled my complaint and asked me irrelevant questions. He has been very non-professional and non cooperative to me.
Having said all this let me confess that I am having great trust with LIC being a leading insurance company with a great name and fame across the country. However I am highly embarrassed and disappointed by LIC seeing higher officials involved in cheating of the customers.
This is how the LIC agents over here in Kashmir cheat customers with less knowledge of LIC and its benifits. Can the LIC now do anything to get my money from the LIC Agent. Can LIC take any action against the Agent for cheating the customer and bringing bad name to LIC Of India as a whole.
Will LIC of India advise on this or can they take action against such agents by stopping their monthly commission on policies.