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Saturday, September 19, 2009

Railway Retired employee's success in Consumer court

One retired employee of the Railway department attended the O.P. treatment in Railway Hospital. The expences were Rs.113/-. The department denied to reimburse the said amount. Thereupon the retired employee filed a case in Consumer court and got success.
Eenadu news paper is providing an opportunity to publish the success stories in consumer forums. do write to eenadu news paper.

Becareful with Insurance Agents

Becareful with the Insurance Agents. Take the following precautions when you want to deal with the Insurance Agents
1. First ask his Licence Number, so that we can know the details of since how long he has been in the Insurance field and when does his Insurance Licence expires and his ability to explain the details of policies etc
2. Ask him whether Insurance profession is full time or part time to him.
3. Take the details and phone numbers of his Manager and Branch so that we can continue our policies even if the agent changed his agency to some other company.
4. Know the details of Insurance value, premium, maturity value etc.
5. Ask the agent to furnish the illustration details paper with his signature.
6. As per IRDA rules the maximum return should not be shown above 10% and minimum 6%.
7. completely go through the policy document when you receive it.
8. You can cancel the policy within 15 days of its receipt

Consumer's Success over Insurance Company

One insured person was run over by train and died. The Post Mortem Certificate revealed that there has been some alcoholic substance in his body.
The promised Insured amount was denied by the Insurance Company that there is a alcoholic substance in the PM Certificate.
The District as well as State consumer Forums held that the Insurance company failed to prove that the deceased took alcoholic substance except presence of alcoholic in PM certificate.

Wednesday, September 16, 2009

Somany Cheating City Limouzines in Andhra

The Sakshi Paper reports that there are so many cheating City Limouzines in Andhra pradesh. Yet no action is being taken by Police as well as RBI officials to check these unscrupulous activities.
The Govt. of A.P. has authorised all Inspectors of Police in the AP State to take action against such illegal activities under RBI Act, 1934. for G.O...

Cheating using Orkut

Sakshi : 17/9/2009
One person using orkut have cheated somany persons. His modus operandi is to deceive the public with fake IDs and cheat the innocent girls.

Tuesday, September 15, 2009

Big fraud in the name of computer education


One Micro Soft Multi media - has collected lakhs of Rupees from the students in the name of computer education and turned its board. As a result several lost their lakhs of rupees.

Rs.200 Cr. Fraud in the name of deposits and different schemes

Deposits of Crores of Rupees were mobilised by the city Limouzines India Limited and turned its board by cheating the public.
Deccan Chronicle: 16/9/09

City Limouzines India Limited, a finance company, wound up business in the city on Tuesday by duping scores of customers. The quantum of the financial fraud is yet to be ascertained as the police is yet to verify the transaction books.
About 50 customers, who came to know of the fraud, rushed to the city branch office of the firm at Abids.On noticing the office was closed, they approached the Abids police station. They demanded that the company chairman, Mr Vikas Mehta, be arrested and their money returned to them.
The police booked a case against the company at around 8.30 pm under Section 420 (cheating) of IPC.
According to a complaint lodged with the Abids police, Mr Vikas and others floated the firm with its head office in Mumbai. It is alleged that the company was operating with a fake RBI licence since 2006. Its registered office is said to be located in Mumbai.
An investor from Golnaka, Mr M. Srinivas, said the company's regional manager, Mr Wajid Khan, lured them into investing their money. The company had issued preference shares in the name of City Realcom Limited, and lured gullible investors by asking them to invest a minimum of Rs 1,30,000 with a promise that the investor would get a monthly return of Rs 7775 per Rs 1.30 lakh. The company paid interest every month for three years, but its cheques started bouncing since August.
Another victim of the firm, Mr Layk Ali, blamed the police for its failure to check the menace of fly-bynight firms. "The police punish ordinary motorists, but when it comes to financial fraud, they turn a blind eye. The Abids police does know that a fraud company is operating in its vicinity,"he alleged.