vinay mohanty
This Blog provides you UpToDate information on life & General insurance dealing mostly with LIC's New Plan Circulars, MillionDollarRoundTable tips on marketing,Financial analysis and INCOME TAX.
PIL Filed Against IRDA at Bombay High Court For Approval Certificate of Insurance Plan
Customer of ICICI Prudential Life Insurance Sapan Shrivastava of Thane city filed Public Interest Litigation at Bombay High Court in June 2013 for not providing policies approval certificate of IRDA which ICICI Prudential life claim.
ICICI Prudential Life denied to provide any policy/plan approval certificate to the policy holder by physical letter . Later Customer requested many times to IRDA chairman Shri J Harinarayan to make available the plan approval certificate of all the plans under IRDA of all the insurance companies, but he never replied . IRDA and ICICI Pru life also not provided the approval certificate of the plans which he has purchased. Customer made complaint at Thane Police commissioner, but they also acted against the Giant group ICICI Prudential Life Insurance and IRDA under Section 420 .
Later in revenge of customer police complaint, ICICI Prudential started harassing customer using IT act 66a. They didn’t approach the court directly for defamation charge. ICICI Prudential Legal team took short cut by using Mumbai Police Cyber Cell ,( Senior Police Inspector Mukund Pawar) to threaten the customer for his action. Customer was abused by Senior PI Mukund Pawar many times in front of ICICI Pru life legal representative for demanding approval certificate from Nov 2012 to Feb2013. Police also bypassed the RTI replies of IRDA and don’t tried to understand the insurance act 1938 and IRDA guidelines . When the events of customer harassment getting exposed in media Mumbai Police Cyber Cell raided Customer house and seized his laptop hard disk, 2 cell phone and 3 Sim cards for demanding approval certificate of policies which he has purchased. This was the misused by corporate of Police . He also not got any protection as customer from IRDA . Later by collecting all the RTI replies of IRDA and email correspondence with IRDA, Finance Ministry ( Shri Arvind Kumar)and ICICI Pru ,he filed PIL at Bombay high court for the protection of 15cr. customers of insurance sector . Customer has requested Honorable Bombay High Court to seize the AUM of the Plans which don't have IRDA approval certificate. No insurance company is providing the approval certificate of any polices to any customer. If any non approved plan fails then the Rs15lac cr industry will be badly suffered. Govt. should come forward for the protection of Policy holders interest
vinay mohantyService Tax Department Has No Record Of Insurance Companies - RTI Reply
ICICI Prudential, LIC, SBI Life , HDFC Life and Birla Sunlife Details Demanded ; More than Rs5k crore Service tax Evasion Per Year......India RTI News Mumbai Reporter : Anju Ram 22 Nov2013
| A RTI application was filed to know the service tax details of top 5 insurance companies . The question was asked that how much service tax has been paid by life Insurance companies since 2006 -2013 year wise on each type of services . RTI was filed at Service tax office , Parel Mumbai to Mr SR Bhatti PIO. The CPIO has forwarded the application to all service tax offices of India under section 6(3) of RTI act to provide information to RTI activist Sapan Shrivastava. Right step should be followed by CPIO that he should get the service tax number of the companies and download the details from server. In last 2 months the RTI activist received more than 125 registered letters from all over India that this information is not available in this office from all states . All these letters was received by registered/speed post with Rs 40 stamp. It means more than Rs5000 was spent in postage stamp but labor cost cannot be calculated . All the Service tax office don’t have records of Insurance companies. Every years Rs20000 commission is paid to agents and Rs2000cr service tax has to paid. More than Rs 3 Lac Cr Premium is paid by customers and service tax also to be paid on premium amount. It means huge amount of service tax evasion may be done by Insurance companies because record is not available at Service Tax office . They cannot say directly that no service tax is received ,they said that record is not available in this office. Only LIC of India provided incomplete details. Appeal has to be filed to know the record of service tax of top insurers. Earlier Sapan Shrivastava filed RTI at service tax for ICICI Prudential life for some law. Later service tax department issued notice to ICICI Prudential Life of Rs 130cr approx. Service tax enquiry is also started for many life insurance companies after these RTI. | 3 |
Farooq Abdullah now demands Bharat Ratna for Vajpayee
New Delhi, Nov 18 (IANS) After the BJP first raised the issue, National Conference chief and union Minister Farooq AbdullahMonday supported the demand for giving the Bharat Ratna to former prime minister Atal Bihari Vajpayee.
"I am not from the BJP, but an Indian. And no one can forget that Vajpayeeji was a great leader. I request
the government to finally give the Bharat Ratna to him," Abdullah told reporters, urging the government to honour the former prime minister with the country's highest civilian award.
The NC is a part of United Progressive Alliance government at the centre.
Abdullah said the country's first prime minister Jawaharlal Nehru had once told Vajpayee that he would one day become prime minister.
Senior BJP leader Ravi Shankar Prasad demanded that Vajpayee be awarded the Bharat Ratna after the government announced it for cricketer Sachin Tendulkar and scientist C.N.R. Rao.
Union Human Resource Development Minister M.M. Pallam Raju and his junior minister Shashi Tharoor too supported the demand.
"People who decide the names would look into it. Atal Bihari Vajpayee has been a great statesman and if the country decides, he should get Bharat Ratna," said Raju.
"People see Sachin as a 'Ratna' of Bharat. In the future, other names can be considered for the award," Tharoor said, adding that everyone has great respect for Vajpayee.
Bihar's ruling Janata Dal-United had Sunday supported the demand for Bharat Ratna for Vajpayee.
vinay mohantyJohnson & Johnson's license revoked on baby powder cancer concerns
Health officials have revoked Johnson & Johnson's license to make cosmetics at a plant outside Mumbai after they discovered the company had used an unauthorized process for sterilizing its baby powder.
J&J said in a statement on Friday that it is in "ongoing discussions" with Indian regulators.
"We understand their concerns and are diligently working with them to resolve the issue," Peggy Ballman, a J&J spokeswoman, said in a statement, adding that there were no consumer complaints or adverse events reported due to its use of the process.
An investigation by the Maharashtra Food and Drug Administration revealed that J&J, at its plant in Mulund, had used ethylene oxide - a substance used to produce industrial chemicals and to sterilize medical equipment - to kill bacteria in its baby powder and had not conducted mandatory tests to make sure there were no remaining traces in the powder.
According to the U.S. Department of Labor, acute exposure to ethylene oxide can cause lung damage, nausea, vomiting and cancer.
Mutual Fund Schemes Are Not Approved By SEBI - RTI
In India there are more than 40 Mutual fund companies are running hundreds of schemes with Rs 8 Lac cr. AUM. Customers assume that all these schemes are properly monitored and verified by government regulator SEBI. So there is no chance of collapse of any Mutual fund scheme. Many people incurred loss in many schemes and remain calm that it may be due to market fluctuation.
India RTI News exposes this multi billion SEBI scam in the name of SEBI approved schemes to cheat millions of customers in India. When a Customer asked HDFC Mutual fund to show approval certificate of all the mutual fund schemes then HDFC Mutual denied it due to compliance issue. Then Customer filed RTI application at SEBI to provide him the copy of approval certificate of top Mutual fund schemes. In RTI reply SEBI said that " SEBI neither approve nor certify any Mutual Fund Schemes" signed by Dr Anil Kumar Sharma, CGM, SEBI .
After getting this letter customer asked HDFC Mutual fund to reply clearly that their schemes are approved from SEBI or not in Yes or No. Earlier they replied that all there schemes are approved from SEBI but later their compliance team replied in legal language that they submit the copy at SEBI and take approval of trustee only. But the trustee which is approving the mutual fund schemes is also not responsible for any loss due to any reason.( See the Scan copy)
God knows that mutual fund schemes are following SEBI norms or not because their scheme design is not approved by SEBI. In automobile or food market all vehicles design and Packet food are approved by RTO and FDA. But SEBI don’t do such responsible task . So why SEBI is created?
This is the clever attempt by SEBI to fool innocent peoples. If SEBI will approve any scheme and the mutual fund get collapse then customer will claim the loss to SEBI. SEBI also allowed Mutual fund company to write everywhere that ( Mutual Fund regulation as per SEBI Act 1996 )but SEBI did not asked them to write in bold letter that " THIS SCHEME IS NOT APPROVED BY SEBI"
Now the customer is planning to file PIL at Bombay High court to save customers in the name of SEBI approval. Till now top 4 companies claimed that their schemes are approved by SEBI ie HDFC Mutual fund, ICICI Prudential Mutual fund, HSBC Mutual Fund and Pramerica Mutual fund . Other top companies never replied clearly that their schemes are not approved by SEBI. SEBI chairman also not replied after many reminders. If any customer is interested then he can join SK Shrivastava of Mumbai 9869345148 for PIL .
vinay mohanty
Asking for a referral is not asking for a favor
Asking for a referral is not asking for a favor
BY VAN MUELLER
When we ask someone for a favor, we often assume that they expect something in return as soon as possible. (While technically, a favor is something provided out of goodwill, the business connotation has evolved into something else.)
To ask for a referral is not to risk a relationship or a friendship, as some claim. If we erroneously believe "referrals are a favor/risk," then we would never ask for referrals. Or we'd ask in such a meaningless way, that we might as well not ask in the first place.
In fact, by assuming the favor/risk position, we undermine the true power of the referral. The diluted favor/risk referral request sounds something like this: "If you know anyone who could benefit from my services, please let them know." If you're one of the many salespeople who ask this question, I picture you nodding your head and recalling that nothing happened as a result.
The goodness of referrals. Referrals are positive, powerful and upright. Referrals are built on truth and integrity. It's time to rewire your referral brain. Think of all the referrals you easily and willingly provide. You tell people about a great restaurant, a terrific movie, a top mechanic and the latest iPad app. We give referrals all the time and they are neither favors nor risks.
Value and trust prevail. Think of people you know well. You like them, trust them and know they're good people. They ask you for a personal or a business referral, and you want to help as much as possible, so you go out of your way to connect them with others. If you must use the word "favor," realize that the prospect is the one receiving the favor by being introduced to you.
Yes, you must earn the right to ask. You've earned the right with your current clients, but have you asked every single one? They really want to refer you, but you must ask. We often believe that when we've done good work for our clients, they automatically refer us. Does that happen? Yes. If you want to build your business, should you rely on it? No.
Deliver value. Ask for a referral anytime during your sales process when you deliver value. How will you know? Most likely your client will thank you and let you know that you gave them a good idea or delivered useful information.
You know you're good. Show it. Share it. Ask for referrals
Will a nominee inherit your assets?
If you think appointing nominees for all your investments, from insurance to property, is as good as drafting a will, you may be wrong. Mumbai-based Nalin Shah found this out recently when he approached his lawyer for drafting a will. In 2010, he had appointed his wife as a nominee in an insurance policy, but his lawyer informed him that his wife would not automatically receive the sum insured.
Instead, the legal heirs named in his will would inherit it. Experts say that a nominee is merely a trustee, who must distribute the assets to the legal heirs named in a will, or as per succession laws.
However, there are some investments, like company shares, where the provisions of the respective Acts override those of succession laws. Here's the legal position of the nominee in different situations. CLICK ON THE LINK
https://groups.google.com/forum/?fromgroups#!topic/life-underwriters-guild-of-india/vZfx_InLZQQ
Instead, the legal heirs named in his will would inherit it. Experts say that a nominee is merely a trustee, who must distribute the assets to the legal heirs named in a will, or as per succession laws.
However, there are some investments, like company shares, where the provisions of the respective Acts override those of succession laws. Here's the legal position of the nominee in different situations. CLICK ON THE LINK
https://groups.google.com/forum/?fromgroups#!topic/life-underwriters-guild-of-india/vZfx_InLZQQ
Insurance Fraud: A 28-hour chase to nab a person with seven names!
A bizarre tale of Bajaj Allianz’s efforts to catch a fraudster depicts the difficulties during the chase. The story ends with a twist of finding that the offender was actually trying to defraud 11 other insurers. He had seven PAN cards and seven names
A long chase to nab an offender would be a normal course of work for a policeman, but it sounds strange for an employee of Bajaj Allianz General Insurance. This is precisely what happened with Sandeep Sarpande, assistant manager—corporate legal, who joined two policemen, from the Vimantal Police Station in Pune, and embarked on an arduous journey to nab the offender. They started at around 5am on a sunny morning for Mumbai, where the offender was residing. While the constables were tuned to the FM radio blaring in the vehicle, Sandeep was reminiscing as to how the crook could do everything so perfectly!
A long chase to nab an offender would be a normal course of work for a policeman, but it sounds strange for an employee of Bajaj Allianz General Insurance. This is precisely what happened with Sandeep Sarpande, assistant manager—corporate legal, who joined two policemen, from the Vimantal Police Station in Pune, and embarked on an arduous journey to nab the offender. They started at around 5am on a sunny morning for Mumbai, where the offender was residing. While the constables were tuned to the FM radio blaring in the vehicle, Sandeep was reminiscing as to how the crook could do everything so perfectly!
The crook had a Bajaj Allianz health policy and lodged a claim for reimbursement of his hospital expenses, where he was admitted for fever. When the Health Administration Team (HAT) claim team received the documents, they were a bit surprised at the claim amount of Rs55,000 for a simple fever! They scrutinised the claim documents and found that everything was perfect!
The inconsistency of the huge amount and a perfect documentation set the alarm bells ringing. The scrutiniser referred the case to their in-house fraud control team at HAT. The team investigated and checked with the hospital to ascertain the treatment costs and the medical protocol. To their astonishment, they found that the claimant was not admitted in that hospital though the documents provided were from the hospital.
After a thorough investigation, the hospital gave it in writing that the claimant was never admitted nor was given any consultation. When they probed a bit more, they came to the conclusion that the claim documents were forged. They confronted the offender on phone and he said that the documents were genuine. It was then decided by the legal team that an FIR be lodged at a police station against the claimant. Once the FIR was lodged at Vimantal police station in Pune, the next step was to arrest the offender and take it to the logical conclusion.
The vehicle suddenly came to a halt and jolted Sandeep. He realised that they had reached Bhayander, a distant suburb of Mumbai. As per the policy records the offender was residing in Bhayander. When they reached the flat they found it locked. They checked with their neighbour and were shocked to hear that nobody stayed in the flat by the claimant's name.
The police team then asked as to who owned the flat and the neighbour promptly provided the owner's contact details and the address where he stayed. Luckily, it was not far away but a 10km drive from where they were. When they reached the owners place they were in for another shock as he said that he has not rented his flat to someone by the claimant's name.
Sandeep and the police constables then gave a description of the claimant. Based on the description, he gave the leave and license agreement which led to the claimant's actual name and photograph. The agreement also revealed that he was employed in a franchisee outlet of a leading telecom operator. Their next location was the franchisee outlet in Malad, a sprawling suburb of Mumbai. But this too yielded no result. With no clues about the offender’s whereabouts, Sandeep was back to square one.
The police constables seemed to lose interest and it was already late in the evening. But, Sandeep was determined to nab this guy and motivated the constables by saying that by coming so far they should not return empty-handed. They once again returned to the franchisee outlet and again enquired about the offender. After a lot of persuasion, one of
Update from Bajaj Allianz
1. The concerned offender was in Police custody for 12 days and judicial custody for 20-25 days. He was produced at the Magistrate Court at Pune. Currently, he is out on bail and the hearing is going on.
2. We have filed a case only for forgery and defrauding Bajaj Allianz. In the charge sheet, the case of multiple identities and PAN cards, along with other forgery offences are included.
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his colleagues who happened to visit the outlet informed that the offender very much stayed in Bhayander but not at the address as per the policy records, but at a place which is a good 30-40km from there. They immediately took off for this new location, with great hope.
When they reached there, the wife of the offender panicked at the sight of police authorities and informed that he hasn't reached home yet. The police authorities knew that she was terrified comforted her by saying that they were just enquiring. After waiting for an hour or so, the offender finally reached his home much to the relief of the anxious police constables. They held him and started enquiring about his forgery attempts and when they started the interrogation in their true police style. He quickly spilled the beans and revealed that he had similar forged claims to over 11 other insurers and was in various stages of claim processing.
They were amazed to find that he had reams of letterheads, rubber stamps and other stationery items of various hospitals at his place. But the most amazing thing was that he had seven PAN cards, 11 credit cards and above all seven names!
They arrested him immediately and when Sandeep glanced at his watch it was 11.45pm. Armed with their prized catch, they started their return journey and reached Pune at the crack of dawn at 3.30am. The offender was first taken to Sasson Hospital for a detailed health check-up as it is mandatory and finally put him in the police custody.
After finishing all the required paperwork and related process, Sandeep reached home at 9 am and crashed into bed. After 28-hours and a 700km chase they were finally able to nab the offender.
The police authorities produced the offender in the Pune court the same day. He is currently out on bail. The case is still being pursued by Sandeep who keeps a tab on the proceedings on a regular basis. He wants the offender to be punished which will serve as a lesson for other offenders.
RCom offers iPhone 5C for Rs2,599 under two-year contract
RCom is offering unlimited voice calls, SMS and 3G data for a fixed monthly fee of Rs2,599 and Rs2,999 with a two-year contract for buyers of iPhone 5c and 5s
Reliance Communication Ltd (RCom) said it is offering Apple's new iPhone 5c and 5s at Rs2,599 and Rs2,999 per month under a two year contract. There is no down payment for both these handset with 16GB internal memory. This offer includes handset cost, unlimited local and STD calls, SMS’, national roaming and 3G data for 24 months.
Reliance Communication Ltd (RCom) said it is offering Apple's new iPhone 5c and 5s at Rs2,599 and Rs2,999 per month under a two year contract. There is no down payment for both these handset with 16GB internal memory. This offer includes handset cost, unlimited local and STD calls, SMS’, national roaming and 3G data for 24 months.
"Under this unique offer, Apple iPhone 5c and iPhone 5s customers will not receive any usage bill for 24 months, as the monthly payments include all usage charges. Only international calls and international roaming charges will have to be paid for," the Anil Dhirubhai Ambani group company said in a release.
Apple iPhone 5S (16GB)
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Rs53,500
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iOS7, 4”, 8MP, Full HD, 16GB, Retina display
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Apple iPhone 5c (16GB)
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Rs41,900
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iOS7, 4”, 8MP, Full HD, 16GB
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ICICI Prudential Life Insurance Sold Policies, Not Approved From IRDA !
| Life Time Super Launched After 3 days of Application to IRDA in June 2006 |
India RTI News want to alert ICICI Prudential Life Customers who have purchased insurance policeis by assuming that the insurance plan is approve by IRDA.
We have received a document from RTI that ICICI Prudential Life has applied approval for Life time Super insurance plan at IRDA on 29th June 2006 ,but started selling after 2 days ie 01 July 2006 ( See image). But as per File and Use Guidelines they have to wait for comments/objections for minimum 30 days. IRDA issued a letter on 26 Dec 2006 to ICICI Prudential Life MD Shikha Sharma to clear the objections of 14 in number within 7 days , but objections where never cleared and policy was later closed on 01 Jan 2010. It means ICICI Prudential Life was selling this policy for 4 years without IRDA approval. When a customer demanded approval certificate of this policy ,they rejected the demand to provide apFilproval certificate of any plan. Later they harass customer via Mumbai police Cyber Crime cell Senior Inspector Mukund Pawar. He registered FIR under IT act 66a for defaming company neglecting the RTI documents. Customer has sent so many emails to IRDA chairman email id( earlier Mr J Harinarayan and Present Mr Vijayan), but non of them acted. More Surprise is that Finance Ministry Secretary Mr Arvind kumar also neglected the customer complaint. It means every thing can be manage with money. Now the matter is under PIL at Bombay High Court.
STOP ABORTION WITH ADOPTION, Mother Teresa 1986 A FILM
http://www.youtube.com/watch?v=qnhiGtCBc10
GOVERNMENT DINED TO GIVE LAND , LAND IS MARKETS THEN MOTHER SAID
WE HAVE A BIG MARKET SELLING LOVE
STOP ABORTION WITH ADOPTION
IF FOOD WILL CLOSE IN THE WORLD I SHALL BE A UNEMPLOYED
SOME HOW SOME WAY THINGS WILL SOLVE OUT
BELEAVE ON YOU WORK FOR POOR AND PRAY TO GOD
Vinay mohanty
GOVERNMENT DINED TO GIVE LAND , LAND IS MARKETS THEN MOTHER SAID
WE HAVE A BIG MARKET SELLING LOVE
STOP ABORTION WITH ADOPTION
IF FOOD WILL CLOSE IN THE WORLD I SHALL BE A UNEMPLOYED
SOME HOW SOME WAY THINGS WILL SOLVE OUT
BELEAVE ON YOU WORK FOR POOR AND PRAY TO GOD
Vinay mohanty
vinay mohanty birth day 5 th november
it is my birth day 5th november i am dedicating my work to LIAFI and to my agents friends, my costumer friends and all my Hindustan brothers and sister
vinay mohanty
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