Thursday, July 09, 2009

Religare a big fraud!

Religare might be a trusted company for some but my experience has been really bad with this brand. They have the most polite executive to lure, but after you end up buying any of their services, it becomes a total nightmare.

I was never a brand freak nor did I have any intentions to buy a D-mat account. My office mate Sharad Mante might have asked for D-mat account and thereby, given my reference to the executive on his insistence. My friend found the executive quite honest and trustworthy and advised me as well to take a D-mat account. Due to his advice, I finally gave up on my rigid plan for not to fall for marketing executives and buy anything.
So, one of their person came with the required forms to get it signed. One of the funny part is that these people choose a time when you are in your office and don’t have time to read their microscopic printed description. Due to which, one agrees and trusts the person who sounds polite and tells you, "Sir you just sign here we will fill all the required formalities".
This person asked for a few documents and I provided him with all of them including a photocopy of my passport along with the check of 900/- rupees. He said “Within a week or two you will get the entire kit sir ji!”
I have never heard from them since that day nor is my account kit delivered to me. Wah! What a nice way to dupe you. This could have happened to lakhs of innocent people. Just imagine 900 into 100000 =90000000 so they got 900000000 worth money by a fraud which is invisible.
It is not that I did not try to reach them and put my grievance to them. But, in a pretense of helping the customer, what they try to do is take out fault with the customer himself. They will bring out legal point. They know customer is ignorant of legal language. They will victimize you instead trying to improve their relationship with the customer and trust. They will questions like, "What was the name of executive called you? Do you know which office he was calling from? Do you know his ID number? Do you have the counter receipt of the form?" (I was never aware of this neither the person who came to collect documents and forms from me told me about it or given it to me that bloody slip) all I want is "Give me my money back!". I had given them the cheque number bank name and the date issued. Isn’t this enough information to know, that I paid from an account. But that D-mat account details or any sort of kit was not delivered to me while Religare has already en-cashed the cheque? So why so much fuss to return the money?

Related stuff on

Insult to Injury: Insurance, Fraud, and the Big Business of Bad Faith  Trading For Dummies


Pushpendra said...

it is my request that after reading my honest account of my experience, you feel that it shall be known to as many people as we can; than share this info to all.

Anonymous said...

i liked your views and people must be made aware of such scams.