Chandigarh (Face2News Bureau)
How the MNC’s Banks works and cheats people, especially NRIs, to collect money for Fix Deposits, but later transfer the amount to insurance sectors. The case which was submitted to Punjab NRI Commission by one Partap Singh Mann R/o Germany. Mr. Maan sent a complaint against HDFC Bank Chandigarh and Tarn Taran Branch and so as HDFC Standard Life Insurance., stating that he has one NRO account at Sector 17-C, Chandigarh bearing No. 02131010000677 and another one with HDFC Bank Tarn Taran bearing No. 14281010000377. The allegations reveal that he was keen to deposit the sale proceeds of the property in the fixed deposits. However, on the contrary the said officials of Chandigarh branch as well as of Tarn Taran branch instead of putting the amount in fixed deposits, fraudulently, converted into Insurance Policies bearing No. 12906293, 12941153, 13146024, 12202852 and 12202845, though, the complainant was never keen to have any Insurance Policy. When on account of non-payment of installments of the said alleged Insurance Policies his Pan No. AZCPM5839Q has been attached and now has been threatened that the installments of the Insurance Policies would also be forfeited. When he filed complaint to the NRI Commission, the Commission instead referring the matter to the Police for inquiry, a notice had been issued to above referred bank and HDFC Standard Life Insurance. The complainant had already received the payment qua the Insurance Policy No.13146024, however, did not receive an amount paid towards Insurance Policies bearing No.12906293, 12941153, 12202852, 12202845. The total amount paid towards the said Insurance Policies are stated to be Rs.90 lakh. Now complainant and HDFC Standard Life Ins. Co. Ltd & HDFC Bank have affected a compromise and HDFC Standard Life Ins. Co. Ltd is ready and willing to refund the insurance premium of Rs. Ninety lacs within 30 days.