Adv. For the Complainant -: Sri A.K.Sahu
Adv. For O.Ps : - Nil
Date of filing of the Case : -26.10.2021
Date of Order :- 28.08.2023
JUDGEMENT
Smt. Jyotsna Rani Mishra , Member
Facts of the case in nutshell : -
The fact of the case is that the Late husband of the namely Pranabandhu Sahu had taken one Home loan an amount of Rs.15,00,000/- ( Fifteen lakh Only) to construct a residential house in his village Burda on 20.05.2019. The Loan was sanction on 20.05.2019 . The loan account number is 6758822437. After sanction of loan on 20.05.2019 first on 23.05.2019 Rs.5,00,000/- was credited to the aforementioned account of husband of complainant Therefore , on 11.06.2019 , Rs.5,00,000/- was credited and on 03.07.2019 , Rs.3,00,000/- was credited to the account of husband of the complainant. The Bank authority /Kotak Mahindra has insured the Home loan before the opposite party No.2 and for that from the aforementioned account of the husband of the complainant Rs.86,002/- was debited on 24.05.2019 i.e just one day after the first loan amount credit date towards the premium for the
-2-
insurance . It is humbly submitted that , it is the duty of the Bank to insure the loan of the loanee before , an insurance company and this is the agreement between the Bank and insurance company.
After taking the loan the complainant was paying the installment regularly . The matter was stood while on 28.02.2020 the husband of the complainant died. Thereafter the premium was not paid by complainant because she knew the Home loan was insured by the Bank and for that Bank has paid the premium from the account of husband of the complainant.
It is relevant to mention here that during the life time of husband of the complainant , the Bank has not intimated about any fault regarding insurance of the Home loan. The bank authority has also not sent any letter about any defection insure the Home loan. But after death of husband of the complainant instead of collecting the loan installment from the insurance company ,the Bank authority issued notice on 06.03.2021 to pay Home loan overdue of Rs.28,520/- to the complainant.
` After getting notice to pay overdue from the Bank , the complainant inquired about the matter and could know that the premium paid towards insurance has been returned by the Kotak Mahindra , therefore , the Bank authority sent notice to pay loan overdue of Rs.28520/- on dt. 06.03.2021.
The complainant relies on the following documents:-
- Copy of Bank authority sent notice to pay load overdue.
- Copy of Aadhar.
- Copy of death certificate of complainant husband .
- Copy of Bank Statement.
- Certificate of Insurance copy.
- Life cover Schedule.
In the instant case the copy of the complainant was referred to the OP directing to given written version of the case , After service of the notice the OP appeared before the forum but failed to avail of the opportunity for filling of the version of the case. On number of dates they failed to appear on the version dates fixed. As the version of the case was not filed by the Ops within time frame given , According to sec. 38(3) (b)(ii) of CP Act 2019 and Op is set exparte.
In the view of above in detail. I feel and observed that , it is clear violation of terms and conditions of the Home loan agreement. As per the Bank rules it is the duty of the Bank to insure the loan. Accordingly , the Bank has taken money from the loan account of the husband of the complainant. Loanee was paying the installment regularly . The matter stood thus on 28.02.2020 after death of loanee.
The policy as single Life type policy after death of loanee in spite of realizing the loan amount from the insurance company the bank is demanding money from the complainant . Thus the demand notice is illegal , arbitrary.
-3-
Loanee taken out the loan in good faith and paid premium for the insurance on time. Life insurance cover in date. So by their acts and conduct OP have committed gross deficiency in service . The Bank is severally liable to pay the compensation. The bank is the lender and is responsible for ensuring that the loan is repaid. Bank is liable to pay the insurance proceeds.
In the absence of the written version from the side of Op it is presumed that the allegation are leveled against the OP deemed to have been proved. Hence Order.
ORDER
I directed to OP that pay the rest amount of home loan from its own pockets. And Returned the amount of Rs.3,82,000/- @ 9% per annum to the complainant within 1 month of the proclamation of the order. Failing which the OP is directed to pay the total amount @12% P.A from the dt. Of cause of action arise. Till realization.
No award as to cost.
PRONOUNCED IN THE OPEN COMMISSION TO-DAY 28th day of August‘ 2023.
