I am an Expact. Four years ago, I was sold two policies by Mr. Rishi Arora from BSL. Last year, when I visited Mumbai, I was advised by him that I should surrender my policies and that to do so, I needed to put in Rs.1 Crore! Sensing this strange, I looked deeper into the matter and found out that I had been missold these policies and that my Investments had eroded by almost 60%! This is in-spite of the fact that a few months earlier, he had given me Statements showing a 20% growth. On closer investigation and after complaining to BSL, I was informed that the statements were fake! I also discovered that my signature had been forged on several documents!! I complained to the Compliance Department, but all I have from them is a standard answer "we are looking into it" and later, "nothing can be done"!
That a Company from the Aditya Birla Group, can behave so blatantly crooked is beyond me! And more surprising is that the Head of Compliance and the Head of Financial services who have been appraised of this fraudulent practice going on within their company have chosen to ignore this!
I have been following this matter up with them for 6 months and it looks like they do not care.
Kumar Mangalam Birla, who talks about his organization as "honest, ethical and transparent", needs to take a closer look at what is happening within. And take some action.
Instead of thanking people like me who are pointing out ’fraud’ within their company, all we get is a slap in the face! Shame on you, Aditya Birla Group!!
On Principle, I am not going to let this matter lie. Birla Sun Life needs to pay for their lack of Integrity and Compliance!