Orissa

Sambalpur

CC/70/2021

Sachidananda Nayak - Complainant(s)

Versus

1.Sr. Manager-Customer relations, HDFC Life - Opp.Party(s)

Sri. R.C.Dash, P.M.Dash & associates

11 Oct 2022

ORDER

PRESIDENT, DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, SAMBALPUR

Consumer Case No- 70/2021

Present-Dr. Ramakanta Satapathy, President,

  Sri. Sadananda Tripathy, Member,

Sachidananda Nayak,

S/o- Late Gopal Chandra Nayak,

R/o- Near Meghna Bidi Godown, Bohidarnuapali

Po-Sankarma, Ps-Ainthapali, Dist-Sambalpur.             ...………..Complainant

                                                Versus

1. Sr. Manager-Customer relations, HDFC Life

Lodha Excelus, 13^th Floor, Apollo Mills Compound,

N.M. Joshi Marg, Mahalaxmi, Mumbai,Pin-400011

2. The Branch Manager, HDFC life, Sambalpur Branch

At-Near Bata Show Room, Budharaja, PO- Budharaja

Ps-Ainthapali, Dist-Sambalpur, Odisha-768004 …………...Opp.Party

Counsels:-

1. For the Complainant       :- Sri. R.C.Dash, Advocate, & Associates 
2. For the O.P.1, & 2           :- Mr. C.Patra, Advocate & Associates

 

Date Of Filing :06.12.2021,Date Of Hearing :05.09.2022, Date Of Judgement : 11.10.2022

Presented by Sri Sadananda Tripathy, Member.

1. The case of the Complainant is that the Complainant is a policy holder of HDFC Life bearing No. 17379735 under Unit Link Pension Super Plus and having UIN 101L085V02 since 30.01.2015. After expiry date of Lock-in period i.e. 30^th January 2020 the Complainant rushed to opposite party 2 namely Mr. Dillip Kumar Jena (BCSS)/Branch manager/Customer Relations Manager HDFC Life Sambalpur Branch on Dtd. 1^st February 2020 to surrender his policy as per the terms and conditions mentioned in the Insurance Policy kit issued to him and he claimed to refund back the total fund value as he was in urgent need of money for the marriage of his son. He came to know from the office staff of O.P No. 2, who verified the same and informed to the Complainant that the fund value of the policy bearing No. 17379735 is Rs. 5,42,000/-. After knowing the fund value of the policy, the Complainant requested to Mr. Dillip Kumar Jena (BCSS)/Branch manager/Customer Relations Manager HDFC Life Sambalpur Branch who is the O.P No. 2. But he refused to refund the total fund value of Rs. 5,42,000/- to the Complainant. Instead of that he advised the Complainant for renewal of the policy which was denied by the Complainant as he was in urgent need of money for the marriage of his son. Therefore the Complainant had requested several times to Mr. Jena the O.P No. 2 to refund the fund value of Rs. 5,42,000/- but all in vain. Mr. Jena, the O.P No. 2 did not listen to the request of the Complainant. On dtd. 28^th October 2020 the O.Ps transferred a sum of Rs. 1,66,339.82. Further the O.Ps deposited an amount of Rs. 321.48 on dtd. 28.10.2020 to the account of the Complainant. After issuance of pleader notice to the OPs, they have deposited an amount of Rs. 4,138.82 on dtd. 31.03.2021 to the account of the Complainant. The O.Ps issued an annuity policy mentioning therein issuance date as 26.03.2021 without the consent or signature of the Complainant on the proposal form or bond or agreement form and intimated in their reply letter to the advocate of the Complainant which proved that the ill intention, unfair trade practice, deficiency of service and monopoly of the OPs. After filing of this Complainant case the O.Ps had deposited an amount of interest Rs. 18,917/- on dtd. 24.03.2022 to the account of the Complainant. For which the O.Ps are liable to pay heavy compensation to the Complainant.
2. The Written Version of the  O.Ps is that the Complainant was a chronic defaulter in paying its insurance premium in due dates as fixed under the policy. In this regard the OP has also intimated the LA to pay the insurance dues as pending from time to time but the LA has not paid it. But in actual the Life assured has paid five number of premiums in policy no 17379735. Thereafter no premium has been received and as policy terms, policy got terminated.  Life assured/policy holder has already received Rs. 166339/- and Rs. 332679/- has been transferred to new policy being no. 23628850. Policy no. 17379735 was terminated in 2020 due to non-payment of annual premium. In new annuity policy no. 23628850, policy holder has already started to receive the annual annuity amount yearly of Rs. 18917/-. As per the definition u/s. 2 (11) of the New Act, there has been no negligence, deficiency of service or unfair trade practice on the part of the O.Ps which had acted with diligence and in good faith. Hence this complaint is liable to be dismissed.
3. From the above it is found that after expiry date of Lock-in period i.e. 30^th January 2020 the Complainant rushed to opposite party 2, namely Mr. Dillip Kumar Jena (BCSS)/Branch manager/Customer Relations Manager HDFC Life Sambalpur Branch on Dtd. 1^st February 2020 to surrender his policy as per the terms and conditions mentioned in the Insurance Policy kit issued to him and he claimed to refund back the total fund value as he was in urgent need of money for the marriage of his son. The fund value of the policy bearing No. 17379735 is Rs. 5,42,000/-. But the O.P No. 2,  had refused to refund the total fund value of Rs. 5,42,000/- to the Complainant. In the other hand, the O.Ps issued an annuity policy mentioning therein issuance date as 26.03.2021 without prior intimation and the consent or signature of the Complainant on the proposal form or bond or agreement form which proved that the ill intention, unfair trade practice, deficiency of service and monopoly of the OPs. Accordingly the case is disposed of with following order:
6698606.  

The case is disposed of on contest. The O.Ps are directed to pay a sum of Rs. 3,75,660.18p towards the balance amount of the fund value to the complainant with 9% interest from dtd. 28.10.2020 to till the date of payment after debit of the given money of Rs. 23,377.30 which was given by the O.Ps to the Complainant in different dates as interest.The O.P is also directed to pay Rs. 50,000/- towards financial loss, harassment, monopoly, deficiency in service and mental agony suffered by the Complainant as Compensation and Rs. 5,000/- towards cost & litigation expenses of the petition to the Complainant within 30 days from the date of order, failing which the amount will further carry with 9% interest per annum till realization to the complainant.

Order pronounced in the open Court today on the 11^th day of Oct, 2022.

Free copies of this order to the parties are supplied.

 

                    I agree,

                                                                       

 (Dr. R.K.Satapathy)                                                                                 (Shri. S.N.Tripathy)    

                 PRESIDENT                                                                                     MEMBER                                                                                     

                                                            Dictated and Corrected

                                                                             by me.

 

                                                               (Shri. S.N.Tripathy)          

                                                                 MEMBER