Dear Manish,
My daughter has taken Mahagold life policy with TATA AIG.(policy no:C000475680 )
SA:6.5L premium:60kp/a
After paying three years of premiums they are giving a surrender value of only 30% minus first year premiums.
Now TATA Mahagold life is a traditional plan,so isnt below link applicable for the same wherein you should get atleast 50% of the premiums paid?
http://www.indiainfoline.com/Markets/News/IRDA-proposes-minimum-surrender-value-for-traditional-plans/5478445434
Please look into the same.