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Oct 06, 2018 09:34 PM 21494 Views

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A short story of Bajaj Capital of duping my elderly parents!

After several attempts of contacting Bajajcaptial through emails and Twitter. I just spoke to one of the customer care representatives(Ms Sangeeta) regarding a complaint that I have with one of their representatives. His name is Abhishek Kumar(Associate Vice-president LA-Premier) and he is working in the Vasant Kunj branch. He came in contact with my elderly parents Mr. Subhasish Ghosh and Mrs. Rita Ghosh in May 2015 and had been advising them on various investments until July 2018 until I came back recently from UK. I had met Mr Abhishek on a trip back home in August 2015 wherein I purposely told him not to make my parents investment in long-term investments as just before that he had made them invest Rs 4 lacs on an ICICI insurance with a premium paying term of 10 years. Despite me telling him sternly, he did not understand my needs and got another investment of Rs 4 lacs in the following year that is 2016. The premium paying term is around 7 years. Again in 2017, he repeated the same thing and got another investment done for another 4 that it is a total of 12 lacs per year on premium for a couple in their 60s and with returns expected not before 2030. During this entire my time, my parents trusted him and did not feel the need to tell me anything since they trusted Abhishek's wit on this but unfortunately he has proved himself to be extremely greedy just to get a cut out of the premiums paid every year. I understand how the system of selling of these investments work which also lead to various foreign trips and other perks from these AMCs.

After coming back to India when I realised that what had happened, I had started chasing Abhishek for an explanation and a way to stop these premiums. He kept postponing his responses stating that he is not well( almost for a month.he was hospitalised) and sometimes he was busy with some sort of training. I had given him enough time and slack to explain how to stop these. Finally yesterday, after pleading for the millionth time, he responded with the below. As you can see, his attitude even right now is not to help but to push us to pay a staggered premium of 12 lacs a year(how much shameless can a guy Abhsihek will understand)

It is of pure shame that my parents were dealt with in this manner and this was not noticed by anyone else(I am surprised the higher management does not monitor the quantum of investment coming from senior citizens or other vulnerable groups). I also understand that the money already invested is also my parent's responsibility as they were trusting enough to sign cheques and approve bank ECSs. Apart from these investments, Mr Abhishek also made them invest in so many other things(quite a few in equity) without considering that they are senior citizens and they should be left alone. This behavior from such a senior team member is outrightly appaling and there STILL has been no revert on this issue by Bajaj Capital, hence I have taken to social media to inform other customers to save themselves from such a company. Cheaters and liars.

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