Mother passed away in December 2019 at the age of 89; She had prepared a detailed will and showed it to me when I visited previous year (2017); As per the will, her assets were to be divided between her three children; myself my brother and sister.
After we left in January 2018, my brother made her sign a new will where he gets her residence flat and no mention of other assets ( cash and jewelry); he did not tell anyone for 10 months and after mothers death I was visiting for her rituals when he handed me and my brother in-law one page brief will. There is no executor designated as per this new will and he has added his signature to operate her bank account and safe deposit box as she was ill.
I know it is fraud and she would have never signed something like this.
What are my options?
Wills & nominations
In 2019, that is six years after I took the loan, the bank started informing me over phone that I need to pay some personal life insurance amount to SBI Life which is clubbed with my loan account. I never opted nor filled up any form for personal life insurance. In effect they have cross sold the insurance product of their sister concern SBI Life without my knowledge or concurrence. After several telephonic conversations, they called me to their office for discussion. They demanded some big amount towards personal insurance of SBI Life. I demanded from them the proof for my opting for life insurance from SBI Life. They could not produce the same. They asked for some time to get hold of the papers. Now on January 29, 2020 they have sent me a notice u/s 13(2) of SARFRAESI Act 2002 stating that my loan account has become irregular and the same has been classified as NPA with effect from 31.03. 2019. They have also called upon me to discharge my liability to them in full within 60 days. As per their notice my total liability is as under:
Housing Loan: Rs. 943313
Suraksha ( Life Insurance): Rs. 186443
Total : Rs. 1129756
Can the bank forcibly cross sell the insurance product of their sister concern to their customers when they take housing loan?
Can the bank share the personal details of their customer with their sister concern without the knowledge and consent of the customer?
Am I obliged to pay the insurance amount taken on my behalf without my consent and knowledge?
Kindly advise and help me.
Pritam Consumer complaints
Shirish Shanbhag An MSc in Organic Chemistry and Diploma in Higher Education and Diploma in French. As a junior college teacher, he taught theory and practical in chemistry, to students in 11th and 12th standard at Patkar College from July 1980 to May 2012. After his retirement in May 2012, he started providing guidance to people on several issues. It includes, career guidance, Cooperative Housing Societies' legal paper works, Right to Information (RTI), Lokayukta, Ombudsman complaints, Marriage Registration,
Bapoo Malcolm Bapoo Malcolm is an Advocate at the Bombay High Court and a former national cycling champion and a man of many interests. Mr Malcolm is an expert in the mechanics of preparing Wills. He is advocate practising civil and criminal law as well as documentation and arbitration. He also takes up family court matters, redevelopment and MHADA matters and testamentary work, including litigation. Mr Malcolm operates in areas up to Nashik and Valsad and from Igatpuri to Udvada. He has experience in polluti
Ashok Kargutkar Ashok Kargutkar is a Certified Associate of Indian Institute of Bankers (CAIIB) and has worked in Bank of India for 26 years. He has also been an insurance advisor with LIC India and AMFI registered Mutual Fund Advisor for 5+ years. He has also been a counsellor at Abhay Credit Counselling Center since its inception in Sept. 2008 to 2014.
AV Shenoy AV Shenoy hold degrees in both Mechanical and Electrical Engineering from VJTI, University of Bombay and a Post Graduate Diploma in Industrial Management from Jamnalal Bajaj Institute of Management Studies. Worked as a Design Engineer in Electrical Business Group of Larsen & Toubro Ltd. at Powai from October 1969 to September 2001 and retired as Dy. General Manager. Also worked as a Facilitator/Trainer for implementation of Total Quality Management (TQM) and ISO 9000 in the organization. Since r
Abhay Datar Abhay Datar is a consumer activist and is also Member of the Managing Committee of Mumbai Grahak Panchayat (MGP). He was Treasurer at MGP for over two and a half years. After working at Bank of Baroda for about 29 years, he retired as IT Manager. After retirement, Mr Datar joined Consumer Guidance Cell of MGP in 2008 and solved many cases related to banking including online fraudulent transactions, misuse of credit cards and ATM cards. Also handled cases related to mobile and mediclaim. Mr Data
Shailesh Gandhi Shailesh Gandhi is a former Central Information Commissioner for the Right to Information Act. He is a successful RTI activist and a regular speaker at Moneylife Foundation.
SD Israni Dr SD Israni is an Advocate & Partner of SD Israni Law Chambers and has over 37 years of experience in the field of Corporate, Commercial and Securities Laws. He has simply written the book on Indian securities laws, copies of which he kindly donated to Moneylife Foundation library. Dr Israni's professional achievements are formidable. He was a member of the Naresh Chandra Committee for simplification of Company Law relating to private and small companies. He has been on SEBI's committee on
Samir Zaveri An extraordinary activist who has dedicated his life to the cause of railways, with a mission to help every rail commuter and accident victims, and improve Railway safety.
Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on legal, RTI, and consumer issues
Sucheta Dalal Trustee - Moneylife Foundation
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