Signature Forgery on Insurance Application.

Querist : Anonymous (Querist) 05 March 2011 This query is : Resolved
I applied for ULIP thru' bank and because the policy was miss-sold had to change to another scheme. The necessary forms were filled by the bank in my absence and even the signature on the form was done by bank employee. Further the agent enticed me with all the glory of new scheme, I even applied the same in wife’s name and necessary forms were filled and money transferred. After repeated communicating with them for 4 months, we got the policy documents but with many mistakes. We approached the bank for corrections and they sent us letter stating that the necessary correction will be done and new documents will be issued within 10 days time. It is been 14 months since I invested money and have not got my documents and hence asked for cancellation of policy. I had written to highest authority in bank but they refused to cancel my policy. I lodged my complaint with IRDA and after repeated follow up, the bank is now contradicting their earlier letters and is ready to cancel my policy and make refund. I have asked for full refund of money along with the compensation for holding the funds for 14 months and compensation for time and money spent in communicating via international telephone calls from United Arab Emirates, courier charges and e-mails sent to various offices and also for the miseries and mental agony suffered during this period. I would like to enquire what further steps must be taken to ensure that I get rightful compensation from the bank who have agreed to cancel my policy and refund (amount not disclosed) as they have probably realized the errors and mischief created by them by not giving the documents after 14 months and as they have forged my signature in my application (which I think is criminal offence). Kindly advice.
Thanking you

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Guest (Expert) 05 March 2011
You can approach the Banking Ombudsman with your complaint and asking for direction to the bank to adequately compensate you.

If still not satisfied, then approach to the concerned Consumer Forum for redressal of your complaint and adequate compensation.

PS Dhingra
Chief Executive Officer
Dhingra Group of Management & Vigilance Consultants
New Delhi-110089
Mobile: 09968076381
[dcgroup1962@gmail.com]

Advocate. Arunagiri (Expert) 05 March 2011
Get the relevant copies from them. Issue a legal notice.

sharven kumar (Expert) 05 March 2011
Two options of approaching Banking Ombudsman and consumer forum under the C P Act 1986 within two years of occurrence of cause of action have been covered by a colleague earlier. You must also write to the Reserve Bank of India as such practices violate their instructions to the Bankers and in case you are sure about forging of your signatures then initiate criminal proceedings against the Bankers,you will get the relief and due compensation.
www.zest4justice.com

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