The Kuldeep Madan lawsuit is a pending civil case in New Jersey state court in which Push Patel and Sana Patel allege that Madan, a financial advisor with MML Investors Services, misrepresented the risks of a premium-financed life insurance arrangement involving policies with combined death benefits of more than $17 million. The Patels filed the complaint on October 2, 2024, and are seeking damages in excess of $1 million.1Trellis Law. Patel Push vs Madan Kuldeep The allegations remain unproven.
What the Patels Allege
According to the complaint as summarized in regulatory filings, the dispute began in 2022, when Madan and MML Investors Services allegedly induced the Patels into buying life insurance policies with total death benefits exceeding $17 million.2FINRA. Kuldeep Singh Madan BrokerCheck Summary The Patels say Madan misrepresented the risks and benefits of the policies themselves and of the premium-financing structure used to pay for them.3SEC IAPD. Kuldeep Singh Madan Individual Report
Premium financing is a strategy in which a client borrows money to cover large life insurance premiums instead of paying them directly. The borrower pledges collateral against the loan. In this case, the Patels allege they were directed to open an investment portfolio account that served as that collateral. They claim the overall arrangement caused financial harm and are asking for more than $1 million in damages.4FINRA BrokerCheck. Kuldeep Singh Madan Detailed BrokerCheck Report
FINRA’s records categorize the products involved as insurance, mutual funds, and managed accounts.3SEC IAPD. Kuldeep Singh Madan Individual Report The mix of insurance and securities products is one reason the case is proceeding in state court rather than through FINRA arbitration.
Who Is Being Sued
The Patels named six defendants:
- Kuldeep Madan, the financial advisor who allegedly sold the policies.
- Ashish Chowdhry, a fellow MML-registered representative and Madan’s co-defendant.
- Madan and Associates, LLC, Madan’s outside business entity.
- Nundhi Group, Inc., an entity whose role has not been publicly detailed.
- MML Investors Services, LLC, the broker-dealer that supervised Madan and Chowdhry.
- Massachusetts Mutual Life Insurance Company, the insurer that issued the underlying policies.
Chowdhry’s own FINRA BrokerCheck record discloses the same pending dispute with identical allegations and the same $1 million damage claim. He has been registered with MML since 1999 and has served as a MassMutual agent since 1998.5FINRA BrokerCheck. Ashish Mohan Chowdhry Detailed BrokerCheck Report
Where the Case Stands
The complaint is docketed as SOM-L-001311-24 in the Superior Court of New Jersey, Somerset County, and is classified as a general tort action. Judge Veronica Allende is presiding, and the Patels have demanded a jury trial. They are represented by Daniel James Fleming of Sweetnam, Schuster & Schwartz LLC.1Trellis Law. Patel Push vs Madan Kuldeep As of mid-2026, the case remains open. It has not reached a verdict or settlement.
A Separate New York Case Involving Madan
A different action, David Jacober et al. v. Kuldeep Madan et al., was filed on October 15, 2024, in New York County Supreme Court before Judge Nancy M. Bannon. That case was pleaded as a commercial contract dispute rather than a tort claim, so it is legally distinct from the Patel matter.6UniCourt. David Jacober et al v. Kuldeep Madan et al
The trial court ruled against the Jacober plaintiffs on a motion to dismiss on March 25, 2025, and again on July 13, 2025. The case is now listed as closed and dismissed. The plaintiffs filed notices of appeal on April 29 and July 18, 2025, and the outcome of those appeals is not yet known.6UniCourt. David Jacober et al v. Kuldeep Madan et al
Madan’s Background and Disclosure Record
Kuldeep Singh Madan (CRD# 6114646) has been in the securities industry since July 2013, when he first registered with NYLife Securities. He joined MML Investors Services as a registered representative in October 2016 and added an investment adviser registration with the same firm in June 2021.4FINRA BrokerCheck. Kuldeep Singh Madan Detailed BrokerCheck Report His MassMutual profile notes that he moved into life insurance after a career in advertising.7MassMutual. Kuldeep S. Madan
Outside of MML, Madan operates Madan + Associates, which he discloses to FINRA as an outside business activity selling life, disability, long-term care, and health insurance along with fixed annuities. He also owns Madan Plus, LLC, described in his filings as a parent company for the Madan-branded entities. FINRA’s records specify that Madan + Associates is not a subsidiary or affiliate of MML Investors Services.4FINRA BrokerCheck. Kuldeep Singh Madan Detailed BrokerCheck Report
As of a May 2026 update, Madan’s FINRA BrokerCheck record shows a single disclosure event: the pending Patel dispute. There are no prior customer complaints, arbitration awards, regulatory actions, or employment terminations on his record.3SEC IAPD. Kuldeep Singh Madan Individual Report His SEC investment adviser filing shows the same single pending item.2FINRA. Kuldeep Singh Madan BrokerCheck Summary