ICICI Bank — Complaint against mr. Satish bhushan to giving me 100% wrong information and doing fraud/cheating with me.

Address:	East Singhbhum, Jharkhand, 831018
Website:	www.consumercomplaints.in/new_complaint

To, date- 14.03.16

The branch manager
Icici bank, mango branch,
Aakash tower, shop no 2 &3, near transport nagar, dimna, mango
Jamshedpur (831018)
Ifsc code: icic0001412

Sub: complain against mr. Satish bhushan to giving me 100% wrong information and doing
Fraud/cheating with me.

Dear sir,
I am regular customer of icici bank since 2002 and my all family have account in this bank. I have fd before in this bank and i was looking for high rate fixed deposit plan for myself and was searching options for that. I was contacted mr. .Satish bhushan because my all work in this bank he is taking care. He told me that don’t invest money in fd because of less interest rate 7.9% yearly of principal amount. We have a balanced advantage fund money back plan better than fd in which you will get 9% granted interest yearly and 0.75 % granted monthly of your principal amount and your principal amount is remain as it like you invest in fd.
I told him pl. Make sure, confirm and discuss with your senior about this plan then after confirm me about this. After four days he told me he confirmed and he said as like before you will get granted 9 % interest yearly and granted 0 .75 % monthly of your principal amount and your principal is remain as it is like you invest in fd.
He knows i have to invest 8 lakh because one week before he with his branch manager (Mr. Rafi ansari) visited to my house for the opening of wealth account.
He also knows i was investing this amount to get interest amount monthly because i have no other source of income. Only on this principal amount earned interest amount is my monthly expenditure every month.
He said to me this invested principal amount of 8 lakhs, you will get granted rupees 6000/ month continuously and you are not able to withdraw this money before 18 month if you want to withdraw before you have to pay 1 % of your principal amount. Again i told him pl. Make sure, confirm and discuss with your senior about this, he says he get confirmed.
Then i gave him 2 cheque on 17.12.2015, each one four lakh for 2 same plan. I sign on the document on the believe of mr. Satish bhushan (Because he open my all family member accounts and doing fd ) where he said to me but they are not showing me the front page( 1st page front), only they showing me the point where i have to sign. Again i asked to him pl. Get confirm and discuss with your senior about this, he says he already get confirmed. He told me tomorrow or after tomorrow you will get the certificate of plan.
After 4 days i contact himthrough mobile about certificate. He said, oh i forget, let i inform to mr. Rajesh (Bistupur branch) to send the certificate. He told me when it will be arrived i will informed you.
After one week when i check my e-mail theni know my money is invested in mutual fund in icici prudential not in an icici bank. And the plan he discussed with me is not looking like he mentioned about this to me. I immediately came to bank and contacted to him and showing him the mail on my mobile is that it’s showing investment in this mf is on highly risk cover which is showing on half curve chart.
I told him it is not money back plan because in this mail it’s not mentioned anywhere. Again i told him pl. Get confirm and discuss with your senior about this. He told me that i (Mr. Satish) already confirmed your fund is invested in money back plan and after one month you will also get confirmed when you get the money in your account and after all i am not going anywhere, your money is completely in safe mode.
After one month on 18.01.2016, i contacted to mr. Satish and ask about my monthly amount by checking my account, whether @ of 0 .75 % of principal amount - inr 6000 credited in my account or not. He said to me, amount is not showing in your account. I said to him, you are saying monthly inr 6000 credited in my account then what happen? Please checks it properly and informed me asap.
He didn’t inform me anything about this.
After 2 days i and my family came to bank and we asked about monthly amount @ of 0.75% of principal amount. Again i told him pl. Get confirm and discuss with your senior about this. That day (18.01.2016) mr. Salish gave me printed copy of certificate and saying they give me soft copy. I told me these soft copies please send me in my e-mail id, but he didn’t send still now.
He said to us, don’t worry, panic and get tense, i am not going anywhere and if anything happen we are here, your principal amount is as it is now, you will start getting this monthly amount at the end of second month from the date of policy started and bank count 13 month instead of 12 month yearly exceeded one month.
Another staff (Name - gaurav bhattacharya ) requested to me, sir where you invested your money, please invest in good return mutual fund, i told him already 8 lakh i invest, , i have no more money. This staff asked to mr. Satish in which fund he invested? Thenmr. Satish said to him in debt - balanced advantage mf in which 80% amount of principal is in safe mode i.E. In debt and 20% invested in equity. Then i asked to mr. Satish, but you are saying my principal is remaining as it and you are saying to him differently. He says 20 % investment in equity is not having any risk that’s why we are saying to you your principal is remaining same always.
Then he was started showing some other client investment in his pc, in which he saw us that a client invest inr 12, 000, 00 and he was getting 9000rs/ month continuously and at the top of the column showing his principal amount inr 1200000 is remain as it. Like this you will also get monthly and your principal is remaining as it is. He again convinced us this way and we came back to home.
When second month ended then i again asked to him, to check my account and confirm me whether my monthly amount @ 0.75% of principal, rupees 6000 credited in my account or not.
He said to me, not credited, then next day i and my family came to bank and asked him, what happen?
Then he discussed with mr. Rajesh (Bistupur branch) and informed me is that your policy is not marked on money back and we will do it in 3-4 days then after you will get your money in your account.
I told him; give me mr. Rajesh mobile number. He gave to me then i start conversation with mr. Rajesh and i also do telephonic discussion with mr. Rafi ansari (Branch manager) then i came to know which is 100% apposite information to what mr. Satish continuouslysaying to me.
I asked to mr. Satish that mr. Rajesh is saying, in this fund money back is not saying anybody to do but possible and thismis money i will get from my money i.E. They sell my unit and given to me every month which is 100% loss for me and also my principal is not remains as it is . Even mr. Rajesh is saying on your principal amount 80% is invested in equity and 20% in debt which is 100% apposite to what you convinced me. Same thing mr. Rafi ansari (Branch manager) also convinced me what mr. Rajesh said to me.
Then mr. Satish started telephonic discussion with mr. Rajesh and then after mr. Satish said to me that whatever massage /information about this mf is given to you is given as mr. Rajesh said to mr. Satish about this mf means mr. Satish given all information to me as mr. Rajesh convinced him about this mf.
Next day( 29.02.2016) mr. Satish informed me and also to mr. Rafi ansari ( branch manager) in his office is that mr. Rajesh is agree to given in written form in icici letter pad is that – principal amount + 9% of principal amount on yearly basis given to you after completion of 18 month from the date of policy started.
Same day i discussed with mr. Rafi ansari about above mention all details information which is given by mr. Satish and mr. Satish accepted each and everything that above mentioned in front of mr. Rafi ansari.
Then after mr. Rafi ansari said to me that as per mr. Satish --- mr. Rajesh is ready to give you in written-principal amount + 9% of principal amount on yearly basis is assured given to you after completion of 18 month from the date of policy started but if value occurred more than(Principal +9% of principal amount on yearly basis ) you have to give to bank.
I agree on this, then mr. Rafi ansari said to mr. Satish, to call mr. Rajesh and gavehim in written as he informed to you (Mr. Satish). Mr. Satish said to me that he (Satish) is calling mr. Rajesh when he (Rajesh) came, i will call you to came to bank, then after i and family returned home .
Next day 01.03.16 i came to bank that day i am in aggressive mood because in last two and half month complete fraud and cheating going on continuously with me. I asked to mr. Satish what happen about written formality because whatever you bank staff said to me i accepted then what is the problem? He said mr. Rajesh was not arrived whole day yesterday and today he is not picking the call on his mobile. I asked to mr. Rafi ansari, what happen? I accept your proposal then why not given me in written. Then mr. Rafi directed to mr. Satish to call mr. Rajesh and mr. Rafi told me he is calling mr. Rajesh within one hour.
I with family waited there but up to afternoon mr. Rajesh was not coming.
Both mr. Rafi ansari and mr. Satish start calling to mr. Rajesh through mobile he didn’t came. Both mr. Satish and mr. Rafi ansari also discussed with icici prudential, bistupur - branch manager -mr. Alok kumar..
Same day mr. Satish said, mr. Rajesh and mr. Alok call us in their bistupur branch at 4.30pm. Before leaving i discussed with mr. Rafi ansari, what can i do? You are saying i am calling mr. Rajesh within one hour. Mr. Rafi politely make me understood me and suggest us there also icici prudential, brach manager mr. Alok present with mr. Rajesh, they might be +ve solution given to you.
Same day i with family and mr. Satish reached at bistupur icici prudential branch at approx. 5.00pm. I said to mr. Satish i am not going to say anything, you have to say this entire thing; mr. Rajesh is still not present there. Mr. Alok know each and everything that i mention above before my arrival as he said to me except few thing which i clear to him in front of mr. Satish. Above mention detail i put on his table in front of mr. Satish. After listening mr. Alok is speechless, only mr. Alok said to me written given is not possible. Mr. Satish is continue saying to mr. Alok was that above mention all fraud information given to me as mr. Rajesh directed him (Mr. Satish) i said to him i want my principal amount with 0.75% monthly interest onmy principal amount till today now (Principal+0.75% interest amount of principal/month till now) back because 100% fraud / cheating was doing by mr. Satish by giving 100% wrong information to fulfill the monthly target achievement.
Mr. Satish is still continue saying i don’t know anything about this mf whatever information/ massage/about this mf given to me is given after getting confirmation with mr. Rajesh. He continues said mr. Rajesh cheated to him (Mr. Satish),
Hope to do a satisfactory investigation from your end and take strong action against him to not to do fraud/ cheat with any client in future. Please help me out in getting my money back asap and overcome this mental tension.


Thank you.
Pankaj kumar
Date- 05.03.16
Mob. No- [protected]
Mf folio no-1:- 7992375/14
2:- 7992374/17