Regarding Fraud done by Officials of Shriram Life Insurance Limited, ASRfor falsely making Policy No P012407127933 instead of Making Fixed Deposit

Gursharan Singh

New member
Policy Name
NP012407127933
Company Name
Shriram Life Insurance Company Limited, Amritsar
Customer Care Number
18001036116
Loss Amount
522066
Ratings
1.00 star(s)
Opposite Party Address
#592, Guru Nanak Avenue, Majitha Road, Amritsar 143001
My name is Gursharan singh. 9 months back, officials of Shriram Life Insurance Company Limited, Amritsar told me that they will do 6 months FD @ 9% interest rate as it has highest rate of returns. I had already done 4 life insurance policies 1. Policy No NP012406111991 dated 25.06.2024 for 10 yearly premium payment of RS 26400 per annum 2. Policy No NP012406165733 dated 29.06.2024 for 10 yearly premium payment of RS 73644 per annum 3. Policy No NP012406164616 dated 29.06.2024 for 10 yearly premium payment of RS 36000 per annum 4. Policy No NP012407042675 dated 16.07.2024 for 10 yearly premium payment of RS 27525 per annum from the same person and so after 3 to 4 visits, I agreed to make Fixed Deposit for all of my savings.

In sept when I received the document I felt like something is wrong as this did not look like a FD document and more like a policy bond. When i go through the documents provided i found that it was actually a policy bond with Policy No NP012407127933 dated 27.07.2024 for 10 yearly premium payment of RS 5,22,066 per annum. Even my signatures on the document are forged and not genuine. Also My father who died more than 25 years ago, is written alive on these documents and my work has been written as businessman with 20 Lac per annum earning which is totally wrong as i am a government employee and my annual income is 7 lacs per annum approx. I contacted Officials of Shriram Life Insurance Company Limited, Amritsar to explain me the details where i was told by them to wait as they will come and visit me in 5 to 10 days and explain me the FD in person. Since then they have been delaying meeting me by saying to wait for 2 days or 3 days. And since August they stopped picking my calls and they switched off their mobile phone from then till date. I tried contacting the branch to break my FD and get my money back where they told me that it's a policy and not a FD and that to where i have to deposit 5 lacs every year. This is impossible for me as i had already given all my savings upto this point and not only this i can't pay it in the future, i wanted to invest in FD where i could have easily withdrawn this big amount when needed.

I have been cheated by the representatives of Shriram Life Insurance Company Limited, Amritsar. I had done other polices before from shriram and i did the FD in good faith but this has broken all trust in this company. While i still want to continue my other policies, I want my full amount refund as soon as possible. I have emailed several compaints via email, via speed post and by visiting branch many times, but no positively response or revert has been given to me. I am very much harassed by Shriram Life Insurance Company Limited, Amritsar and my family is suffering from lot if mental pressure due to lack of funds which was falsely acquired by Shriram Life Insurance Company Limited, Amritsar. I am asking for my payment from more than the last 9 months to be given back to me with 9 months interest but Shriram Life Insurance Company Limited, Amritsar isn't giving any response. In this regard, I want the entire amount paid by me with 9 months interest should be returned to me by taking appropriate action as soon as possible.

Shriram Life Insurance Company Limited, Amritsar is not giving response to my emails, letters and in person. Please do justice to me as I can’t pay the huge amount to the above insurance company. i was’nt aware that the above company is doing fraud with me by doing insurance instead of fixed deposit. Also the abovementioned company wrote all false information in the above mentioned policy and forged my false signature to it. Please do justice to me.

Thanking You in anticipation





Gursharan singh

#592, Guru Nanak Avenue,

Majitha Road, Amritsar 143001
 
Last edited by a moderator:
Hello @Gursharan Singh

I have emailed several compaints via email, via speed post and by visiting branch many times, but no positively response or revert has been given to me.
This is the first step before filing case in the Consumer Forum.


Shriram Life Insurance Company Limited, Amritsar is not giving response to my emails, letters and in person
If the Company is not responding, you need to file a case in the Consumer Forum.

You can file the complaint online via the e-jagriti Platform: Ministry of Consumer Affairs, Food, and Public Distribution, Government of India claiming:
  • Refund Amount - ₹ 522066/-.
  • Compensation for mental agony and financial loss - ₹ 200000/-.
  • Litigation charges - ₹ 25000/-


  • Maintain Records: Keep copies of all correspondence and documents related to your case.
  • Seek Legal Advice: If necessary, consult with a legal professional to explore further options.
Important Tip:
Before taking legal action, it is advisable to first send a legal notice to the Opposite Party.
Note:
We can assist in:
  • Drafting professional legal notices.
  • Filing consumer complaints for deficiency in service.
Feel free to contact us if you wish to proceed with a legal notice draft or complaint preparation.

Regards,
Support Team
 
Back
Top