HDFC Life insurance company’s MD, CEO, CFO booked for cheating

NP NEWS NETWORK 
Pune 

An FIR has been registered against senior officials of the HDFC Life Insurance company for allegedly duping a man to the tune of Rs 17 lakhs. HDFC Life is today the most valued life insurance company in the country, with a market cap of Rs 90,704.54 crore.

[amazon_link asins=’B078124279′ template=’ProductCarousel’ store=’policenama100-21′ marketplace=’IN’ link_id=’2aaa16d2-c630-11e8-9a3a-c7bb0eee908c’]

As per complaint lodged by Ujjwal Anand Kunte of Prabhat Road, Deccan Gymkhana police station under Pune city police have registered the case against the HDFC Life’s MD&CEO Vibha Padalkar, Sanket Mittal and Surbhi Dixit and former MD & CEO Amitabh Chaudhary, who has now joined Axis Bank.

According to police, the incident took place between December 2012 to date. The complainant’s sign was taken on a form for transferring his policy money to his account. However, the Rs 17 lakhs were not given to him. After repeated follow-ups when he did not get the amount, Kunte lodged the complaint with police.

The accused persons are yet to be arrested. They have been booked for offenses under sections 420 (cheating), 406 (criminal breach of trust), 409 () and 34 (common intention) of the Indian Penal Code (IPC).

Why people don’t think Gandhi was rebellion and revolutionary – Shripad Joshi

Established in 2000, HDFC Standard Life Insurance Company Limited (‘HDFC Life’ / ‘Company’) is a leading long-term life insurance solutions provider, offering a range of individual and group insurance solutions that meet various customer needs such
as Protection, Pension, Savings, Investment, and Health. As on March 31, 2018, the Company had 34 individual and 11 group products in its portfolio and 8 optional rider benefits, catering to a diverse range of customer needs.

HDFC Life continues to benefit from its increased presence across the country having a wide reach with 414 branches and additional distribution touchpoints through several new tie-ups and partnerships comprising 149 bancassurance partners including NBFCs, MFIs, SFBs, etc and 22 partnerships within the non-traditional ecosystems. The Company has a strong base of financial consultants.

All you need to know about the currency picture of Mahatma Gandhi

HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), India’s leading housing finance institution and Standard Life Aberdeen, a global investment company. As on March 31, 2018, HDFC Ltd. holds 51.6% and Standard Life (Mauritius Holdings) 2006 Limited holds 29.3% of the equity in HDFC Life, while the rest is held by others. During the year under review, HDFC Life completed its Initial Public Offer by way of an offer for sale of 14.92% of the fully diluted post-offer paid-up equity share capital of the Company.

The shares of HDFC Life are listed on National Stock Exchange of India Limited and BSE Limited w.e.f. November 17, 2017.