A criminal complaint was filed against the Bajaj Allianz and its corporate agent, Team Life Care Insurance (P) Ltd in the first additional chief metropolitan magistrate court in Vijayawada. After hearing lengthy argument put forward by advocate and activist M V Shyam Sundar, the Court referred the case to the Machavaram police for thorough investigation.
If one dwells into the details of the complaint, the advocate was approached by a victim who lost almost all his money after he purchased a life insurance policy from an unauthorised agent of Team Life Care Insurance Pvt Ltd. The victim purchased three policies each worth Rs. 5,000 and in turn he got units worth Rs. 1500 for each policy. He was taken aback after looking at the summary statement and approached the agent but did not a satisfactory reply.
After listening to a FM radio speech by Advocate Shyam Sundar, the victim approached him and the advocate suggested to file a criminal complaint against both the companies.
Both the companies indulged in all types of violations while selling insurance policies. No policy should charge more than 40 per cent as charges from the policy amount as per the Insurance Act, 1938. But in this case 70 per cent has gone as premium charges. As per the Section 41 of Insurance Act, 1938, no agent whether Individual or corporate agent should employ sub-agents to sell insurance polices. With the connivance of Bajaj Allianz, the Team Life Care Insurance is indulging in such malpractices.
In depth study shows, actually, the Team Life Care is indulging in more serious crime that is money circulation scheme. It is encouraging the unauthorised sub-agents to enroll two more members each offering commissions. They in turn have to enroll to more members each. This is nothing but money circulation schemes as envisaged in the Honourable High Court of Andhra Pradesh judgement in Amway case.
One has to wait and watch to see what the police are going to do with this criminal case. If history repeats, it will be another GoldQuest case.
5 comments:
Multilevel marketing & money circulation are not same.Please vide www.paulzanepilser for updating about the validity of MLM.Money circulation is illegal ofcourse. ... Major A Goswami,Kolkata
phoemix hrd services in coimbatore is a froaud company, they are looting money from the innocents who are in the fantacy of working in abroad, they cheat in a very intelligent method pplsss dnt belive it., i am the one who waited for 1.5 yrrs and finally lost my money,,, if anybody wants more info plss mail me phanirajsankha@yahoo.co.in, call me 9945515259, i am residing in bangalore,,,
plsssss be carefulll
Dear Sir,
With reference to the REAL BUSINESS MARCOM PVT. LTD. Company scheme. I have invested in this Company Rs. 12455/- after that our mediator who assures that we are going to Get 1 % of Rs. 32 Lakh i.e Rs. 32000/-. But this has become only Assurance instead of an Action?
So, Therefore, I request you to please investigate about the fraud made by this company and refund at least invested amount Rs. 12455/- . In BIKANER City there are number of people who have invested lot of money in this company only on Company's Trust. The company has intentionally duped the people. They have not stuck to their plan what they committed of 32 Lack on investment of Rs. 12455/- But they are facing problem to get their invested amount back.
GROWTH INCENTIVE (NON-WORKING INCOME) EVERY MONTH
Any associate joining with option of binary board & growth option will be qualified to receive the following income from the growth of company on monthly basis.
Level Heads Amount
1 18 800.00
2 36 1600.00
3 72 3200.00
4 144 6400.00
5 288 12800.00
6 576 25600.00
7 1152 51200.00
8 2304 102400.00
9 4608 204800.00
10 9216 409600.00
11 18436 819200.00
12 36864 1638400.00
Total 73710 3276000.00
As per this plan i have joined 13 people below me. Their intention was not good; it was to cheat by the owner of the company. We feel that consumer forum should take an action against such companies. We have also come to known that they have taken lot of property from the investor money and not are absconding now. All the numbers are not working i take this forums as an opportunity to seek justice i appeal the body to look into the matter. Since the matter of the investor to the tune of 500-1000 people and fraud could be around 1-2 corer.
1 I have myself more than 13 people below me.
2. No income tax deduction letter given which they have deducted
3. Non receipt of further cheques.
4. Absconding
THE COMAPNY DETAILS ARE AS BELOW.
REAL BUSINESS MARCOM PVT. LTD.
15-D/1A, CENTRE SINTHEE ROAD,
KOLKATA 700050
North India Communication Office
T-2, Sujas Tower (Behind Mohan Restaurant) , Nehru Bazar, Jaipur 302 001
Jaipur office: F-70, Ram Path, Shyamnagar, Jaipur 302 019 (Rajasthan)
CERTIFICATE OF REGISTRATION : U51909WB2008PTC123748 DATE 06/03/2008 KOLKATA
PAN CARD NO:AADCR8977R DATE O6/O3/2008
TAN CERTIFICATE NO:CALR07496G
CUSTOMER CARE NO. 09874801819, 033-25569418
E-mail : rbsupport@realbusinessnet.com, rbmcare@gmail.com, customercare@realbusinessnet.com
Website : www.realbusinessnet.com
The Promoter
The promoter of the company is Chopra family from Kolkata with a sound financial background of textile and Electronic Item Trading Business for more than 30 years. The group turnover is more than 200 cr.
The Directors
Mr. Gopal Agarwal
(A young entrepreneur from the field of textile and Garments with experience of Marketing Textile for 10 years)
Mr. P. Bose
(An ex Shaw Wallace administrator and executor with experience of more than 20 yrs)
Now no one is picking up the phone, earlier they said CHEQUES are under process. We feel that we have been duped knowingly and intentionally and so I am making a complaint against REAL BUSINESS MARCOM PVT. LTD.
We also request to please help us return the money with Interest at least.
REGARDS
Jai Prakash
dear sir/madam
my name gomati gupta
add: gehloti ki dungari dhola bhata
suary nagar dhola bhata ajmer
305001[rajasthan]
my policy in bajaj allianz life insurance company limited
my policy number 21645031
my policy name unitlinked
data of commencement 06.07.2006
frequerncy annual
sum assured amount 100000
sir my complants for year complacte iam 3 time premium pay 10000
i not recived orgianal policy bound
iam three time complants company policy bounds
so u help me my policy give me
thanks
gomati gupta
cellno 9351512504
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