Cobra Post HDFC Bank K. Gerard, Branch Manager; M. Kumar, Financial Consultant, Venkateswaran K, Territory Manager, HDFC Standard Life Insurance, Chennai Case No. 3

Cobra Post HDFC Bank  K. Gerard, Branch Manager; M. Kumar, Financial Consultant,  Venkateswaran K, Territory Manager, HDFC Standard Life Insurance, Chennai Case No. 3

Bank Name – HDFC
Location – Mylapore, Chennai
Name – K. Gerard, Branch Manager; M. Kumar, Financial Consultant, HDFC Bank, Venkateswaran K, Territory Manager, HDFC Standard Life Insurance, Chennai
Case No. - 3

Cobra post reporter visits to HDFC bank and
meets K. Gerard, Branch Manager; M. Kumar, Financial Consultant, HDFC Bank, Venkateswaran K, Territory Manager, HDFC Standard Life Insurance, Chennai

Reporter – Real Estate Businessman

Reporter asks - A certain politician wants to invest black money.
Would the bank help?
Want to invest in the name of his wife and in the name of the man representing him.
The name of the politician should remain secret

First reporter meets M Kumar then Kumar  invited Branch Manager K. Gerard to join in.

Gerald ask the reporter –
How will you invest?
Will you invest in cash?
They will not accept cash but will accept DD in other bank can pay the cash and get the DD.
This way, the investment of black money could be facilitated.
I don’t need PAN. Actually, the officials who process the form will require it.
We don’t send it to the Income Tax Department.
Invest money using different names.
Example  one is done in your name, one is done in your brother’s name and another in madam’s [your wife’s] name. I am telling you this way).
Sir I would suggest you start off with Rs. 20 lakh

Convert cash into DD from nationalized bank it is more easy.

While everything is going on Geralad keeps calling his senior regarding advice.

When reporter shows the urgency Gerald later tells the reporter that senior official would personally deal with the case and there is nothing to worry about.

The senior official is Venkateswaran K, Territory Manager of HDFC Standard Life Insurance. Venkateswaran, popularly known as ‘Venkat’ and considered a ‘Superboss’, heads no less than 53 branches in Chennai.
The reporter  meets Venkat at the appointed time.
Now Venkat tells the reporter following –

we cannot take more than 15 lakh per name inclusive [of] all schemes.
It should not cross 15 lakhs per individual because past 20 lakh every year I am supposed to report to IRDA that these are the customers.
So, today it’s 20. Tomorrow it can come down to 17–18. I will stick to 15.
I will never cross 15.
 In fact, if you can close it at 10 nothing like it

Every year before the renewal premium comes, you can just give us a call, I will send somebody and collect the cash and get it done.
I don’t want PAN number anything.

Then he tells him the plan how it will be done and precautions which must he has to take.

He tells to reporter that he accepted Rs.50 Lakh in year 2005  but now because of laws he does not suggest to invest Rs. 20 Lakh but only suggests to invest Rs.10 lakh.


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Cobrapost Expose, HDFC Bank- Case 3




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Friday, March 15, 2013
Tags – Cobra Post HDFC BANK Red Spider Expose