Complaint / review / scam report
Magma fincorp limited
Non issue of Termination of Contract

I had purchased a Maruti Omni from the above mentioned co proposal no PG/0011/C/05/000269 at the end of the term when i went there to collect the termination of contract they told me there was an outstanding amount of approx Rs 37, 000/- (Thirty seven thousand only). I asked them to provide a break up they told me that a mount of Rs 27, 743/- (Twenty seven thousand seven hundred and forty three) was due as insurance premium where as from the first day i had insured my vehicle and was enjoying 50% No Claim Bonus. They said it was a single premium i asked them how could a humble vehicle like Maruti Omni have such a high premium. They gave me a policy no and asked me check up with Reliance General Insurance Co the insurer on verifying with Reliance they told me that such a policy no does not exist. I went back to the Co and told them that Reliance did not have such a policy with them, after a few day Magma sent me a notice and asked me appear before a Lok Adalat vide case no 439 of 2012. I went to the lok adalat and asked the judge and the Co personals the same question on not having any reply they dismissed the case. I was asked to visit there office after a few visits i still did not get any reply. I now need money due to a lot of financial loss in my business, i have sent a lot of mails where only one was answered which said we will get back to you and nothing has happened. Please help me out of this
Author: harvinder singh malhotra


Offender: Magma fincorp limited

Country: India   State: West Bengal

Category: Business & Finance

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