This email is in reference with my Home Loan A/c – 91824016 taken from Centurion Bank of Punjab now merged with HDFC Bank Ltd. The issue is with the insurance cover provided to me from Aviva Life insurance to cover me with the home loan that has been offered to me by the bank. When I initially agreed to the sanction letter, I was
informed that Rs. 23 Lacs will be paid to my builder, Rs. 1.5 Lacs to be paid to Aviva Insurance company on my behalf & bank charges of Rs. 72,000 to be paid by me and the total loan amount Rs. 25,22,000. The insurance cover was offered to me by mentioning that I will need to pay Rs. 15,000 per annum after this initial lump sum payment & even would get money back with due course of time and was informed that all paper work for the same will be sent to me. This was the reason to agree to the cover from Aviva.

Now the concern is : I have understood since August 2008 that this cover has been missold since the yearly premium is Rs. 1.5 Lacs as paid by the bank for the 1st time and not Rs. 15,000 as promised. The other concern is that there is no paper work sent to me with regards to the cover by Aviva Insurance company & even CBoP Bank. I have made multiple attempts in having this sorted and getting it clarified for a long time however haven’t succeeded as yet. Initially I spoke to Aviva and they mentioned that the original cover policy has been sent to HDFC Bank and I will need to get it from them. Hence I called up Mr. Punit Sharma from CBoP Kandivali Branch for the same whom I had initiated the home loan process and he mentioned he is the Territory Sales incharge and I will need to contact some one else regarding the same from the Insurance cover team. This conversation was in February 2008 apprx and then after speaking to the insurance guy I was told that request is placed to get the documents sent to me and may take upto 1 month since will have to be initiated from Gurgoan if I am not mistaken since will come directly from the Head office. However till date haven’t received any details for the same. Later I skipped 1 EMI after August 2008 when i realized the cover has been missold to me and some one from HDFC Collections dept contacted me and I inquired about the Insurance cover, they mentioned will need to visit the
office from where I have originally taken the loan from. Hence I went to Kandivali Branch and no my suprise the branch is closed and had no details to contact the right person to have this sorted. Unfortuantely have been running
from pillar to post to get this resolved. Finally after 2 EMI’s being stopped i was contacted by Mr. Sachin Dodke who asked me to give the same in writing. Hence I have written about the issue on 21st November 2008 and handed the
letter to him with a covering copy of my sanction letter. I unfortunately haven’t heard anything about the letter written. I even released 1 EMI and he mentioned will take it further and have it sorted.

Finally after a few days he mentioned regarding the issue I will need to speak to Mr. Sanjay Sonar. Hence after explaining the details to Mr. Sonar, I was asked to write an Email to him with the details and in the mean time he would research and keep me updated about the same. Since then issue is still pending and i have even kept a few Emi’s on hold due to which i was contacted by HDFC Bank and when asked for a manager of Mr. Sonar, was informed its Mr. Bharat Jayakar. I recently met him and spoke to him on 28th Oct 209 and he states I should pay my pending Emi’s worth Rs1.5 Lacs else they would initiate legal action to take over my property however I NEED TO FORGET THE RS.1.5 LACS THAT HAS BEEN PAID TO AVIVA AND SIMPLY SWALLOW THE LOSS.
Kindly look into the details, since i am not happy with the fact that I have been missold misguided and missinformed about the insurance cover and inappropriately sold to me. I can certainly abide to repay the EMI amount
each month for Rs. 30,195 however i strongly decline to take the cover from Aviva and cannot afford to take the cover for Rs. 1.5 Lacs per annum. It is a humble request to look into the issue and get back the amount paid to Aviva Insurance company.

Regards,
Sameer Gadgil