Kotak Mahindra Bank Complaints & Reviews

This is regarding false promises made to corporate salary account holders by Kotak bank officials. We were promised a lot of facilities on my account during account opening. Later I discovered that Kotak had not created the right kind of account and the facilities I was promised like petro card, gold card etc were not activated on my account.

After a endless calls to call centre, customer support I am still not able to get a clear picture and commitment from Kotak Bank. Mr. Pratik Sinha who is suppose to be customer relations officer does not pick up calls and when escalated had called me once to request me to erfill some forms again.

This is not acceptable from a reputed bank like Kotak. Please do something to get my issue resolved if someone responsible is reading this.

Kotak after receiving the foreclosure amount against agreement no. STL-250041 subsequently further realised three EMIs from the concerned a/c through ECS. They are very reluctant to response and/or reply a series of letters furnished from this end. Only once I got a verbal assurance from the concerned personel Mr. Tapan Ojha after that it was very difficult to cross their office reception desk.

I had made a very big mistake by trusting Mr.Sunil (Territory Manager ) from Kotak life who had come to me throu some reference. I had purchased a life insurance policy throu him .At the time of issuing the policy i was told that as there is no collection centre of the company in our city they will provide me the facility and will collect the premium on due dates from my place but now as i have already paid 3 premiums (quarterly) they are troubling me a lot. After atleast 50 calls from my side there employee Mr. Saurabh collected a chq for the fourth premium from me on 09/03/2011 but till date my premium has not been cleared .Now i get a call from the company that they require some declaration from me. I have already paid them 15000/- now i get calls from them to convert my policy to some other plan. I am really fed up of all this stuff .

From V.JAYARAMAN
5/1090.B.D.O.VAIRAVANATHAN STREET
SENTHIL NAGAR
COLLECTORATE POST
DHARMAPURI-636705
Mobile: [protected]
TO
Complaints against Life Insurance Companies:
Mr. T Venkateswara Rao, Deputy Director
Insurance Regulatory and Development Authority
Consumer Affairs Department
United India Tower, 9th floor, 3-5-817/818,
Basheerbagh, Hyderabad – 500 029.
E-mail id: [protected]@irda.gov.in
Sir,
Sub: Complaint against Kotak Insurance Company regarding.
I wish to bring to your kind notice that one lady representative of one group telling that they are from Kotak Insurance Company branch of Salem, Tamil nadu ,had telephoned from telephone number[protected] that Kotak Mahindera insurance company is celebrating 25 th annual day and on account of the same they have selected 1000 telephone numbers from Dharmapuri Town (Tamil Nadu) and our telephone number [protected] is one of the lucky numbers to be awarded with a free policy of value Rs.1000000 one lackh and asked me and my wife to come over to one Lakshmi Kalyanamandapam in Dharmapuri.
We have gone there at about 12.30 pm on 13/03/2011 just to see what is going on there.
At the reception they asked us one code number which was told to us by phone from Salem Branch persons. I have revealed the code number and in turn they given us one form to fill up. We filled up the same and after wards they started telling the performance of and the statistical data about Kotak insurance Company.
Further they told that we were one among the ten couples who are selected for the free policy offer and we would be given a special policy called CAPITAL MULPLIER at
Cheaper rate and we should sign the papers on that day it self for an annual premium of Rs.25000/.
They were forcing us to sign the papers on condition that we should pay cash Rs.25000/or c heque the next day.
That was the incident happened on 13/03/2011 at Dharmapuri Lakhmi kalayamandabam.This is a criminal activity and should be taken up with the Kotak insurance company for forcing the innocent public to take their insurance policy under the disguise of free offer camps and trespassing into the house of public through their telephones.
As per insurance laws no insurance company could force any one take their policy against their will.
I request that the concerned Insurance Company should be taken up and punitive measures should be imposed on them
Thanking you
V.JAYARAMAN
21/03/2011

I had opened (unfortunately) Kotak ULIP on 9-Jan-2009. My Policy Number is 01460451.
During opening of the policy, One of the kotak representative Ms. Poonam Rohra([protected], poonam.[protected]@kotak.com) told me during opening of the policy that locking period is 3 years and after that amount can be with drawn at any point of time. But after 3 years I came to know that First premium can not be withdrawn as policy term is 3 years.

Now how can i retrieve that amount? She is not even responding to my e-mail and calls.

I was cheated by Kotak Representative/ Frauds

Regards
Sachin
[protected]

Customer Details.

Name : Sameer T I
Account Type : Salary Account - Tata Consultancy Services
Bank : Kotak Mahindra Bank
Customer ID : 31407939.
Account No : [protected].

Issue :

1. Had requested for Debit card PIN for both the debit cards in the month of Jan. Till date I haven't received.

Steps Taken : Have contacted Customer Service via phone, Sent them email. Also have spoken to 3 differenct SPOC for Kotak Mahindra Bank. Everyone assured that they will get back to me in 3 days and do the needful. IN about more than 2 months , I have only got assurance and false promise.

2. Had requested for Account statement in the month of Feb for which Rs 50/- for charged by the bank. Till date haven't received the statement. Same excuses given by the SPOC and customer service. But not response till date.

Email Sent : ranjitha.[protected]@kotak.com, service.[protected]@kotak.com, v.[protected]@kotak.com.
Also spoke to SPOC like Vipin, Anirudh but no results till date.

Please advise how to go about this.

ITS A COPY OF MAIL WRITTEN TO KOTAK BANK AND BROKER:

DEAR CUSTOMER SERVICE MANAGER ,KOTAK BANK
I HAVE AN ADVICE FOR YOU THAT YOU PLEASE CHANGE YOUR ADVERTISEMENT WHICH CLAIM THAT YOU ARE THE BEST BANKER AND BROKER IN INDIA, YOU ARE THE WORST BANKER AND BROKER IN INDIA, YOU ARE TOO BAD THAT NOBODY CAN BEAT YOU IN INDIA AS WELL AS THE WORST SERVICES ARE CONCERNED FEW POINTS HAVE BEEN GIVEN BELOW TO TELL YOU HOW GOOD YOU ARE IN THIS INDUSTRY, PLEASE READ COMPLETE MAIL:

1. I OPENED TWO ACCOUNTS WITH YOU, IT WAS MY FIRST MISTAKE.
2. MY PROBLEM STARTS WHEN I FIRST OPENED MY WIFE ACCOUNT WITH YOUR BANK VIDE ACCOUNT NO [protected] WITH THE NAME OF SHASHI VATS I , I COMPLETED ALL THE FORMALITIES FOR THE TRADING ACCOUNT AND BANK ACCOUNT BUT IT TOOK YOU TWO MONTHS TO OPENED MY TRADING AND BANK ACCOUNT WITH YOUR BANK. YOU ARE THE BEST BANKER AND YOU TAKE TWO MONTHS TOO OPEN A TRADING AND BANK ACCOUNT SO SAD, FIRST YOU SENT MY TRADING ACCOUNT KIT ON THE WRONG ADDRESS, IT WAS DELIVERED TO MY UNCLE’S PLACE NOT AT MY ADDRESS, I GOT IT AFTER ONE WEEK AFTER MAKING 20-30 CALLS.
3. I REQUESTED TO DO SOME ADDITIONS IN MY ADDRESS THAT WAS NOT DONE.
4. AFTER A LOT OF STRUGGLE I GOT MY TRADING A/C KIT AS ON 28.11.2010 VIDE DEMAT ACCOUNT NO 15536299 WHERE AS I HAD COMPLETED ALL MY FORMALITIES WAY LONG BACK(2 MONTHS).
5. I GOT MY BANK KIT AFTER TWO MONTHS BACK AS ON DATED 24.11.2010, YOU OPEN TRADING AND BANK ACCOUNT IN TWO MONTHS AND CLAIM ON TV THAT YOU ARE THE BEST BANKER AND BROKER.
6. AFTER A LOT OF DISCUSSION AND ASSURANCE FROM MR.IMRAN SIDDIQUI AND HIS MANAGER MR.DANISH AFSAR I HAVE FINALLY GIVEN MY PAPERS AND CHEQUE TO OPEN ANOTHER TRADING AND BANK ACCOUNT IN MY NAME RAJ KUMAR VATS VIDE DEMAT ACCOUNT NO 15617967 AND BANK ACCOUNT NO [protected], BUT THIS TIME ALSO YOU TOOK TWO MONTHS TO OPEN A TRADING AND BANK ACCOUNT, I GOT MY TRADING KIT AS ON DATED 16.12.2010.
7. AFTER MAKING 20-30 CALLS I GOT MY BANK ACCOUNT KIT AS ON DATED 28.12.2010, THAT IS WITH THE WRONG PHONE NO, I HAVE CLEARLY MENTIONED MR BISWAS THAT I HAVE TWO PHONE NUMBERS AND PLEASE DO NOT MENTION MY OFFICIAL NUMBER IN MY CONTACT NUMBER BUT AS MR BISWAS DON’T VISIT THE CLIENT TO OPEN THE ACCOUNT AND HE DOES ALL THE FORMALITIES ON THE PHONE ITSELF THEN HOW HE CAN PUT THE RIGHT INFORMATION IN THE FORM.
8. MR.DEEPJYOTI BISWAS JUST VISITED MY HOUSE FOR THE FIRST TIME WHEN HE OPENED MY WIFE ACCOUNT , AFTER THAT HE HAS NOT VISITED MY HOUSE, I WONDER HOW HE HAS PUT ALL THE REQUIRED INFORMATION IN MY BANK OPENING ACCOUNT FORM, MAY GOD BLESS HIM.
9. BY GRACE OF GOD BOTH OF MY ACCOUNTS HAVE BEEN OPENED IN SUCH A GREATEST BANK OF INDIA, BUT I HAVE TO WAIT TO GET MY DEBIT CARD PIN AND PHONE BANKING PIN , AFTER MAKING 30-40 CALLS TO MR IMRAN I GOT MY TRADING ACCOUNT PASSWORD FROM HIM BUT STILL WAITING FOR MY DEBIT PIN .
10. I THINK I WILL HAVE TO WAIT FOR ANOTHER ONE YEAR TO GET MY DEBIT CARD PIN AND PHONE BANKING PIN.
11. I THINK IT WAS MY MISTAKE TO OPEN AN ACCOUNT WITH KOTAK BANK AND TO CHANGE FROM HDFC BANK, HDFC BANK IS FAR BETTER THAN KOTAK. I HAD NEVER FACED BASIC PROBLEMS FROM THEM.
12. DURING THIS TIME I VISITED YOUR BRANCH 5-6 TIMES AND MET THERE WITH THE OFFICIALS BUT TILL DATE MY PROBLEM HAS NOT BEEN SOLVED, NOW I AM PLANNING TO GO LEGAL AGAINST YOUR BANK AND BROKER FIRM, ONCE I RECEIVED A CALL FROM MY BRANCH FROM MR.CHATARJEE BUT HE ALSO LISTENED MY COMPLETE STORY BUT DID NOTHING, HOW COOL IS THE MANAGEMENT OF THIS BANK BECAUSE CHATARJEE IS A MANAGER THERE.
13. PLEASE IN FUTURE NEVER SAY THAT YOU ARE BEST BANKER AND BROKER , YOU ARE CHEATING SIMPLE PEOPLE.
THANKING FOR HURTING ME SO MUCH .
REGARDS
RAJ KUMAR VATS
[protected]@gmail.com
DEMAT ACCOUNT NO: 15617967
BANK ACCOUNT NO : [protected].
SHASHI VATS
DEMAT ACCOUNT NO: 15536299
BANK ACCOUNT NO: [protected]

I AM HOLDING POLICY NO 02093090 DTD 21/08/2010 OF MONTHLY E.M.I. RS 5000.00. AFTER OPENING POLICY I AM NOT RECEIVED ANY STATEMENT OF ACCOUNT OR PAYMENT RECEIPT. IT CLEARLY SHOWS THAT PRIVATE COMPANIES ATTRACTS COSTUMER AND NOT GIVING ANY SERVICE AFTER SALES. MY REQUEST IS ATLIST STATEMENT OF ACCOUNT AND MONTHLY PAYMENT RECEIPT

Sir,I am holding a a policy (Policy No[protected], Kotak Smart Advantage)from Kotak Mahindra Old mutual life insurance Ltdand about to complete 3 years in AUG 11. I have requested many times for account statement but no action has been taken. Being a defence personnel my corresspondance address keep change. Presently i am posted to such a place where there is no nearby branch of KLI. Thus i am not able to contact nearest branch for changing of address where i can easily approach for receipt of A/C statement. While enquring changing procedure of address they told to fill up a specific form along with a address proof certificate and send it to the following address :-
Kotak Mahindra Old mutual life insurance Ltd.
Regd offic: 9th floor, Godrej Coliseum, Behind Everard Nagar, Sion (E) Mumbai-400 022.
I send all documents through speed post NO. EE[protected]IN on 03 FEB 2011 but no action has been taken yet.

Respected Sir,

With respect and sincere regards, I would like to submit to your kindself that I, Gaurav Kumar Sharma, resident of Sector 30, Faridabad, Haryana had a Policy (Policy No.[protected] of Kotak Mahindra Life Insurance (Kotak Mahindra Bank) for the last three years. I have been paying my premium regularly every year. This year in February, 2011 (dates between 05.02.2011 to 08.02.2011), I got telephonic calls from the Customer Care – Kotak Life Insurance on my mobile No. [protected] regarding the non payment of premium for my above said policy.

Sir, since my premium submission date was over and I was told by the Company representative over phone that they are deputing one of their representative in the name of Deepak to collect the premium in cash as it is already delayed. Fearing that my policy may not got cancelled, I gave the money amounting to Rs. 18,000/- in cash to Shri Deepak and he in turn showed me his Identity Card No. 46425 issued by Kotak Mahindera . The Company representative in turn issue me an acknowledgement Slip No. KP 2537958 dated 24/02/2011 amounting to Rs. 18,000/- from Kotak Mahindera and even gave his mobile No. [protected]. A copy of the receipt issued by them is enclosed herewith for your kind reference please.

Since but till 03.03.2011, when I find on internet that my premium had not been deposited by the representative of Kotak Mahindra, I approached the Kotak Mahindra Life Insurance Authorities through Customer Care and also in person to their Branch Office at Sector-16, Faridabad regarding the above. The authorities were unable to give any satisfactory reply in this regard.

However, to my utter mental disturbance and agony I approached the Duty Officer, Sector 31 Police Station, Faridabad at about 7.00 PM on 04.03.2011 and submitted my complaint in writing but till date I did not got any response from them about the fraudulent act done by the Kotak Mahindra Company.

Sir, this is a clear case of fraud performed by the Kotak Mahindra Bank which is duping the hard earned money of the poor people like me. I think it is a well established case of insiders of the company who pass on information to their representatives to collect the premium in cash and later switch off their mobile so that their whereabouts is not known. Sir, I am middle class family person and does not have enough income to bear such type of financial losses. I am facing both mental stress and financial crisis. I, therefore earnestly request you to kindly look into the matter personally and issue instructions to the concerned to investigate the matter I also fear that in the past also he has done such type of acts and had duped the people with their hard earned money.


Thanking you in anticipation and looking forward for a positive response in the matter at the earliest.

Yours faithfully,




(GAURAV KUMAR SHARMA
Sector 30, Fardidabad-121 003
Contact No. [protected]

I have invested 10000/- in KOTAK ELSS FUND, i have given redemtion in Oct.2010 through CAMS, but due to my old address i have not received the cheque.I again tried to get my cheque on new address so that i had submit my new address application, pan card detail and bank details. After a long communication i have received the cheque today i.e on 9th march 2011 with dated 8th Oct. on cheque.

I just want to know what is my fault?

and it is possible to get 5 month intrest on it?

my home loan no is - HF- 6926126...with kotak mahindra bank..

i was never told about the life insurance that i was wrongly sold..at the end the disbursement cheque had a deducted amount of 93000 towards the insurance premium.. kindly note thet i have repeatedly told them to discontinue the insurance,, but no action at all...

ashwani sagar

[protected]

Kotak has successfully disappointed me once again. I have gone through the trauma of reaching their unprofessional customer care and bank staffs. I am sure, like me, many of you would have experiences the horror of trying to reach kotak customer care by email or phone.

I had serious trouble with getting my home loan from Kotak in spite of all paper work being clear...and its still not solved. It seems no one in Kotak is really bothered to take the business forward.

Read through the mail that I wrote to customer care on 22nd feb 2011. I havent heard any response from them yet..not even the confirmation that they have received the complaint and they are looking into it. I think the post and telegraph system in 1980s worked faster than Kotak's customer care.

[protected]
From: Ashish Kanak <[protected]@gmail.com>
Date: Tue, Feb 22, 2011 at 11:40 AM
Subject: COMPLAINT :: Need aggressive contact point for Kotak home loan
To: service.[protected]@kotak.com


Dear Sir/Madam,
I am writing to you as I am deeply troubled by your agent handling my home loan.
I have applied for home loan through you agent Bhimrao - [protected]. The home loan is for 20lks and period of 15 years.

I had to follow Bhimrao day and night to get the home load approved in spite of my documents being clear. The home loan is approved now.

Now I am having problem in payment disbursement. My loan was approved sometime in October. Now it seems that the interest rates have changed in spite of the promise to keep the same interest rate till March 2011. It seems I will have to do the documentation work again as conveyed by Bhimrao.

I am in UK right now and I have given power of attorney to my Father. Even my father is disappointed by the services of Bhimrao and his approach towards work. Its absolutely unprofessional.

I am really worried by the casual approach and attitude of Kotak. I was not planning to take up home loan from Kotak as I was not satisfied with the services given to me by Kotak securities. I was some how taken into confidence by some Ms. Pallavi (my customer relationship manger) to go ahead with the loan as there are some good rates on offer. Now, Pallavi has left the bank and there is no contact point. In fact the loan rates have also changed in spite of all the promises. I am once again disappointed by the Kotak services.

I had to pay the first 2 instalments from my own pockets. Its a loss to Kotak as well.

Can you please move my loan to a more responsible agent. I want things moving before the next payment demand by the builder.

I am sorry if I have harsh in the above mail content. Please mail me on this mail ID. Optionally you can drop a SMS on +9198198XXXXX or call me on +4474380XXXX. Or give me a mobile number to reach the concerned person directly and I will give a call.

If the home loan cannot be processed then please refund the processing charges so that I can process the home loan from some other bank. You can send the cheque to Flat 602, Old Phase 1, Sonam Gyan CHS, Golden Nest, Mira Bhayander Rd, Mira Road East, Thane - 401107.

[protected][protected]
Regards,
Ashish Kanak

Dear
Sir/Madem

My Complain Number Is 02116347 Dt.[protected],Against My Policy No.[protected] & 00961983,I Allready Fill All The Forms (Declaration for issue of Duplicate Policy & All Marge Form) & Submited To Your Company Executive Mr. Atin Kapoor.But Your Company & Your Executive No Response My Police Documents.So Please Take Immediate Action Regarding This Matter.
Your's
Sushil Kumar jain
[protected]

I m getting calls from Kotak Mahindra telecallers every day. I just want them to stop it and let me live in peace. I have asked them to delete my number from their database. I got a call even today morning. If this continues, i will never ever invest in KMB even if i have handful of idle cash in future. This irritates me so much. The number changes every day. Today's number is[protected].

Mail trail with Kotak Life pls read from below.

Mr.Kotak/Mr.Gupta – Sorry to bother you again, refer the fraud which has happen by your company pls don’t let the brand name of Kotak be ruined - just because of your direct sale team target pressure. It is obnoxious which has happened with my parents and due course of grievance redressal is required on an immediate basis.





Mr.Rathod,



I WANT TO MAKE IT CLEAR THAT I HAVE HAD NOT REQUESTED FOR CANCELLATION OF POLICIES, I’M REPORTING FRAUD HAPPENING AT KOTAK LIFE.



Mr.Faruki – What information you have passed on to Kotak Mumbai team? It is FRAUD reporting not a cancellation request pls make it very clear.



Refer your below mail, pls be informed that I’m surprised and sad to read this “Further, we are unable to consider your request for cancellation of the policy number 1749643 as all the information was duly explained and for the same we have also not received the complaint for past 1 year”



Here your executive SACHIN sells one policy while being in Netambit and when he joins Unicon after 1 year he misleads the customer saying that the customer will get 72,000 out of a policy of Rs. 50,000 if the customer opts for another policy worth Rs. 24999. It was wrongly explained after 1 year by SACHIN to do so – HENCE NO COMPLAINT WAS REGISTERED IN PAST 1 YEAR, HOPE YOU UNDERSTAND IT NOW.



Now why that SACHIN don’t come on calls now? If it is not a case of MIS-SELLING your representative should not hide and avoid calls.



Pls get hold of SACHIN, know the truth and punish him, treat it seriously Kunal.



Another development, today I received a mail from unicon to send the complaint to email id which of GMAIL, again surprised to know how you function and your level of business partners - helpdesk.[protected]@gmail.com (Mail attached)



Kunal the case is deep and you are dealing with it in a generic case closure manner, which is not at all appreciated. If you don’t take it seriously I will do whatever it takes to get justice.



RIGHT NOW I WANT TO CALLOUT VERY CLEARLY THAT I’M VERY DISAPPOINTED WITH THE SARKARI ATTITUDE OF PRIVATE COMPANY KOTAK LIFE.



Your review is there in mouthshut.com pls refers the URL below:



http://www.mouthshut.com/review/Kotak-Mahindra-Life-Insurance-lsnumstsln







Regards,

Saurabh


[protected][protected][protected][protected]

From: Client Service Desk //Kotak/Insurance [mailto:[protected]@kotak.com]
Sent: Wednesday, February 23, 2011 6:42 PM
To: Saurabh Malik
Subject: FW: FW: Cheating Racket run by Kotak Life



Dear Mr. Malik,



This is in reference to your request for cancellation of Kotak Smart Advantage Plan and Kotak Surakshit Jeevan policy number 01749643 and 02147245 respectively.



We have gone through the concerns highlighted by you and post investigations, the company has agreed to cancel the policy number 02147245 only. We request you to kindly submit the policy documents at any of our nearest branch located to you and complete the formalities and provide us a cancelled cheque (incase you wish to receive surrender amount as direct credit to your bank account).



Further, we are unable to consider your request for cancellation of the policy number 1749643 as all the information was duly explained and for the same we have also not received the complaint for past 1 year.



I trust the above explanation clarifies your concern.



For further queries please feel free to write to us or contact our Client Service Desk on[protected] from Monday to Saturday between 8:00 AM to 10:00 PM



Warm Regards,

Kunal Rathod | Customer Care | Kotak Mahindra Old Mutual Life Insurance

Kotak Towers, Building No. 21, Infinity Park, Off Western Express Highway, Goregaon Mulund Link Road, Malad East, Mumbai 400097|

[protected] Toll Free) |(+[protected] Fax) | [protected]@kotak.com (Email)



IT’S FAST, IT’S FREE. IT’S CONVENIENT!

Register on our Online Policy Manager to get instant access to your policy details, fund values, fund statements and to conduct transactions ranging from fund switch to online renewal payments and many more. For details, visit http://insurance.kotak.com/



SIGN UP FOR THE NEW SMS

Keep track of your Fund Value, daily NAV’s, request for premium certificates and statements etc at the click of your mobile. To register, SMS REGL <space> policy number <space> date of birth to 5676788. Example: if your policy no is 716274 and DOB is 20th January 1970 (20/01/1970), then type REGL 716274 20/01/1970.



HASSLE FREE ONLINE PREMIUM PAYMENT

To avail this service:

Visit http://insurance.kotak.com/ and pay through Net Banking.
Pay through your bank’s website
Pay through VISA money transfer (https://www.visabillpay.in/)
Pay through Bill desk (www.billdesk.com)





[protected][protected][protected][protected]

From: Saurabh Malik [mailto:Saurabh.[protected]@indiatimes.co.in]
Sent: Monday, February 21, 2011 1:47 PM
To: Uday Kotak //Kotak /Bank; Dipak Gupta //Kotak /Bank; [protected]@uniconindia.in; [protected]@uniconindia.in; [protected]@uniconindia.in; [protected]@uniconindia.in; [protected]@netambit.in
Cc: Client Service Desk //Kotak/Insurance; KLI Grievance //Kotak/Insurance; Sachin Kumar //Kotak/Insurance; Tarun Dhawan //Kotak/Insurance; Vijay Singh //Kotak/Insurance; Piyush Trivedi //Kotak/Insurance; Pankaj Desai //Kotak/Insurance; C Jayaram //Kotak /Bank; Haseen Faruki //Kotak/Insurance
Subject: FW: Cheating Racket run by Kotak Life



Mr. Faruki and Mr. Mishra (Kotak Employees based out of Allahabad) were their at my parent’s house last Saturday.



Both of them and specially Mr. Mishra was trying a lot to convince my parents that fraud has happened and nothing can be done now….they should cancel second policy and continue with the first one as nothing can be done now! IRDA wants to the register the formal complaint refer the below mail received from them, fyi pls..



Mr.Kotak /Mr.Gupta – I will request you to please intervene as your employees are not trying to get hold of the culprit (SACHIN) and his companies (Neambit & Unicon) but they are trying to put the case below the carpet and get rid of the situation.



Need resolution immediately – pls help.



Regards,

Saurabh


[protected][protected][protected][protected]

From: IRDA Complaints [mailto:[protected]@irda.gov.in]
Sent: Monday, February 21, 2011 12:23 PM
To: Saurabh Malik
Subject: RE: Cheating Racket run by Kotak Life



Dear Sir/ Madam,

We acknowledge your mail.

As we found information to be incomplete to register your complaint, we request you to send the complete details in the below mentioned format or you can contact 155255 (Toll Free) to register the complaint.


* Mandatory Fields

*Name of Complainant
Mr./Ms.

Communication Details


Door No./ Bldg/Name/ Floor


Street / Area


*City/Town/Panchayath/Village


Taluk/Tehzil


District


*State


*Pin Code


* E- Mail


Telephone No


*Mobile No
+91

Fax No


*Insurance Type (Please mentioned Insurance Type

*Life
* Non Life


*Insurance Company Name


Policy No:


Cover Note:


Other Reference No:


Details of the Complaint (Please type the full details of the complaint)


*Have you Approached Insurance Company Regarding This Grievance (If Yes Provide Ref No )





Regards,

Consumer Affairs Department

IRDA

Basheerbagh

Hyderabad






[protected][protected][protected][protected]

From: Saurabh Malik [mailto:Saurabh.[protected]@indiatimes.co.in]
Sent: Thursday, February 17, 2011 11:09 AM
To: Client Service Desk //Kotak/Insurance; kli.[protected]@kotak.com; sachin.[protected]@kotak.com; tarun.[protected]@kotak.com; singh.[protected]@kotak.com; piyush.[protected]@kotak.com; dipak.[protected]@kotak.com; pankaj.[protected]@kotak.com; c.[protected]@kotak.com; haseen.[protected]@kotak.com
Cc: [protected]@irda.gov.in
Subject: RE: Cheating Racket run by Kotak Life



Some Shruti from Netambit called my parents yesterday and was trying to give the logic that any policy has free look up period of 15 days but as a reply we want to say that Sachin the culprit has done the fraud after one year not within15 days, refer the trail mail.



Mr. Faruki from Kotak Allahabad is requested to give quick resolution and punish or debit Netambit and Unicon from where Sachin their employee had made calls in order to deceive us.



Mr. T.Venkateswara Rao (Deputy Director - IRDA) is requested to see how insurance companies hire business partners like Netambit and Unicon who further are not able to control quality and end-up doing MIS-SELLING. Kindly get my case resolved.



Regards,

Saurabh





Policy Details 1



Policy No. 01749643

Client id . 53153596

Policy date. 18/11/2009

Policy Holder Name – Mrs. Swadesh Bala Malik

Name of Plan – Kotak Smart Advantage (UIN -107L043V01)

Premium Paid – Rs. 50,000



Policy Details 2



Policy No. 02147245

Client id . 54149487

Policy date. 18/10/2010

Policy Holder Name – Svadeshi Malik(wrong spelling in the policy doc., correct one is Mrs. Swadesh Bala Malik)

Name of Plan – Kotak Surakshit Jeevan(UIN -107N042V01)

Premium Paid – Rs. 24,999




[protected][protected][protected][protected]

From: Client Service Desk //Kotak/Insurance [mailto:[protected]@kotak.com]
Sent: Monday, February 14, 2011 1:12 PM
To: Saurabh Malik
Subject: RE: Cheating Racket run by Kotak Life



Dear Mr.Malik,



This is with reference to your E mail dated 09.02.2010.



We would like to inform you that we have forwarded the case for investigation and revert back with resolution 3-4 working days



We solicit your co-operation for the same.



For further queries please feel free to write to us or contact our Client Service Desk on[protected] from Monday to Saturday between 8:00 AM to 10:00 PM



Warm Regards,

Kunal Rathod | Customer Care | Kotak Mahindra Old Mutual Life Insurance

Kotak Towers, Building No. 21, Infinity Park, Off Western Express Highway, Goregaon Mulund Link Road, Malad East, Mumbai 400097|

[protected] Toll Free) |(+[protected] Fax) | [protected]@kotak.com (Email)



IT’S FAST, IT’S FREE. IT’S CONVENIENT!

Register on our Online Policy Manager to get instant access to your policy details, fund values, fund statements and to conduct transactions ranging from fund switch to online renewal payments and many more. For details, visit http://insurance.kotak.com/



SIGN UP FOR THE NEW SMS

Keep track of your Fund Value, daily NAV’s, request for premium certificates and statements etc at the click of your mobile. To register, SMS REGL <space> policy number <space> date of birth to 5676788. Example: if your policy no is 716274 and DOB is 20th January 1970 (20/01/1970), then type REGL 716274 20/01/1970.



HASSLE FREE ONLINE PREMIUM PAYMENT

To avail this service:

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[protected][protected][protected][protected]

From: Saurabh Malik [mailto:Saurabh.[protected]@indiatimes.co.in]
Sent: Wednesday, February 09, 2011 5:38 PM
To: KLI Grievance //Kotak/Insurance; Client Service Desk //Kotak/Insurance; KLI Press Queries; Sachin Kumar //Kotak/Insurance; Tarun Dhawan //Kotak/Insurance; Vijay Singh //Kotak/Insurance; Piyush Trivedi //Kotak/Insurance; Dipak Gupta //Kotak /Bank; Pankaj Desai //Kotak/Insurance; C Jayaram //Kotak /Bank
Cc: [protected]@irda.gov.in
Subject: Cheating Racket run by Kotak Life



Dear Kotak Life Team & Mr. T.Venkateswara Rao (Deputy Director - IRDA),



With extreme agony and pain I’m writing this mail to you all. Pls find below details of two policies sold with wrong information (MIS-SELLING) to my father (Mr. Malik). Policies are in the name of my Mother (Mrs. Swadesh Bala Malik)



A person with the name Sachin called-up my father ( Sachin’s Mobile number – [protected] & Landline number –[protected] and sold policy No. 01749643 and later after one year, Sachin called-up my father and told him that this fund is discontinued hence my father will get Rs. 72, 000 back on the invested amount of Rs. 50,000 and policy will be closed, if my father opts for another policy worth Rs. 24,999. My father being not very literate agreed and buys Policy No. 02147245 of Rs. 24,999. Now my father is waiting for Rs. 72,000 and Sachin is not picking up his calls since 2 months now.



I want that my father should get Rs. 72, 000 as committed + Rs. 10,000 compensation for the first policy no. 01749643 and Rs. 24,999 + 8% p.a interest for the wrong commitment and harassment he has faced by Kotak in front of his family for the second policy no. 02147245
Both the policy should be closed and we don’t want to engage Kotak ever in our house now.
Name of policy holder – Svadeshi Malik(wrong spelling in the policy doc., correct one is Mrs. Swadesh Bala Malik) should be corrected for record purpose only.
Last but not the least, employees like Sachin should be taken for a task on ruining Kotak image.


Policy Details 1



Policy No. 01749643

Client id . 53153596

Policy date. 18/11/2009

Policy Holder Name – Mrs. Swadesh Bala Malik

Name of Plan – Kotak Smart Advantage (UIN -107L043V01)

Premium Paid – Rs. 50,000



Policy Details 2



Policy No. 02147245

Client id . 54149487

Policy date. 18/10/2010

Policy Holder Name – Svadeshi Malik(wrong spelling in the policy doc., correct one is Mrs. Swadesh Bala Malik)

Name of Plan – Kotak Surakshit Jeevan(UIN -107N042V01)

Premium Paid – Rs. 24,999





Regards,

Saurabh Malik

sir i want to inform you that i have complain agest. your executives {atin kapoor & ashutosh anand & tejender singh working in karol bage branch mein arya samaz road delhi} they frod us by making new policy of rs. 30000/- for there commission.inspit of that this amount {rs. thirty thousand} will be deposited in my old policy{policy number is 00962000 & 00961983,name by sushil kumar jain} but stil they making fool and misguide us.many time i send complain on your company email id & customer care but i get no response from your company. its my humble request to you please take strick action agest. your executives other wise i make police complain & give this matter in media.
your;s
sushil kumar jain
[protected]

Dear Sir,

Subject: Received half of PF than actual deduction amount

I had submitted my PF form to my employer and I received half of my deduction amount. No one is receiving phone at BANDRA EPF office since long time. Please let me know what can I do for receiving my rest of PF amount which I deserve to get.

Thanks
Ankita Sinha

SIR,

I HAVE FINANACED A CAR FROM KOTAK MAHINDRA PRIME LTD. MY LOAN ACCOUNT NO. CF-5622306 AND CRN[protected] .

THERE IS SOME CHARGES DUE TO CHQ.BOUNCED,INTEREST OVERDUE & CHQ.COLLECTION, WE HAVE NO WRITTEN LETTER FROM BANK BUT WE HAVE RECEIVED MANY PHONE CALLS THROUGH BANK /SEVICE PROVIDER.THE PERSON (MS.FATIMA PH.NO.[protected] WHO IS CALLING FOR CHARGES THAT IS USED VERY UN DESCIPLINED LANGUAGE (DHAMKI TYPE WORDS).

THE PERSON WHO IS RECEIVED CALLS IS A HEART PATIENT. IF ANY THIING WILL HAPPENED WITH HIM , BANK WILL RESPONSIBLE.

WE WILL DEPOSIT ALL CHARGES RESPECTIVELY.


REGARDS

RAMESH JINDAL
GLOBAL FASHION
G-56 AGGARWAL CITY PLAZA,
SECTOR - 3, ROHINI ,DELHI-85

TEL.NO.[protected]

DearSir/Madam

This is with reference to my Bank account no. [protected] and my credit card no. [protected]

I had to initiate closure of all services with Kotak Bank due to complete non-cooperation from their end. I would like to list down the issue that I had been facing.

1. My Kotak Savings Bank account Debit card never worked since day 1 (restricts me to pay and operate through ATMs)
2. My Internet bank account password does not work and resetting message doesn't come to my registered mobile no./email id after trying numerous times and even the customer care couldn't help after numerous complaints as well. The same had been even notified to Hemant who collects the payment from me, but was never addressed (restricts me to pay and operate through Internet)
3. Through drop boxes, I had clarified at the time of enrolling for the card that its not possible for me to use that since I have a very small baby and is difficult for me to go out every time. And there is no Kotak drop box in my office and residential complex. (restricts me to pay through drop box)

So almost by all means it became almost impossible for me to operate the bank account as well as credit card. From last 5 months I have been continuously charged late fees and interest charges because my payment was getting delayed. I was making all payment only through the Kotak Bank collection executice as that was the only means for me to pay.

All of these issues were never addressed by the Kotak staff after repeated complaints as well. I have been trying to discuss and come to a amicably acceptable situation to both parties but it is very mean of the bank to not accept any of their faults and completely reject all the request made by me, which actually gets me to also conclude and close both the accounts. In fact I had raised the final request of closing the card in first week of January to which Bank took almost 6 working days to revert and still they expect me to pay for the late payment and interest charges of January and February.

I have paid all the principal charges deducting the late payment and interest charges, but they are still not ready to close the account. Total due was 28194 as per Kotak, I have paid 20312, after deducting Rs. 7882 of late payment interests and taxes.

I would like to your help in this matter to close the same. Please suggest