DISTRICT CONSUMER DISPUTES REDRESSAL FORUM-II, U.T. CHANDIGARH

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Ajit Singh Kundi s/o Sh. Ram Singh, resident of H.No. 2319, Sector 23-C, Chandigarh.

              ---Complainant

Vs.

1]   Bajaj Allianz Life Insurance Co. Limited, through its Manager/ General Manager, SCO No. 45, Pocket-I, Manimajra, NAC, Chandigarh – 160 101.

2]   Bajaj Allianz Life Insurance Co. Limited, through its CEO/ COO, GE Plaza Air Port Road, Yerawada, Pune 411 006.

3]   Bajaj Allianz Life Insurance Co. Limited, through its MD/CMD, GE Plaza Air Port Road, Yerawada, Pune 411 006.

---- Opposite Parties

BEFORE:   MRS.MADHU MUTNEJA            PRESIDING MEMBER

SH. JASWINDER SINGH SIDHU    MEMBER

Argued By:    Sh. R.M. Dutta, Counsel for Complainant.

              Sh. Varun Chawla, Counsel for Opposite Parties.

PER MADHU MUTNEJA, PRESIDING MEMBER

1.          The Complainant who is a retiree having no pension had deposited a sum of Rs.20,000/- with the Opposite Party No.1 vide Cheque No. 72320 dated 27.5.2011, which was encashed on the same date (cheque encashment certificate Annexure C-1). However, neither any receipt of the cheque nor any policy was received by the Complainant. As the Complainant has no other source of income and he was in need of money for his personal requirement, he requested the Opposite Parties to refund the aforesaid deposited amount along with interest vide letter dated 4.1.2012 (Annexure C-2). Thereafter, he visited the office of Opposite Party No.1 a number of times, but to no avail. The Complainant has stated that he is a retiree and was made to run from pillar to post for no fault of his for refund of his hard earned money. The Complainant has thus filed the present complaint praying for refund of Rs.20,000/- along with interest, compensation and costs of cost of litigation. 

2.          Notice of the complaint was sent to Opposite Parties seeking their version of the case.

3.          Opposite Parties in their joint reply have maintained that after receiving Rs.20,000/- from the Complainant against the proposal dated 24.5.2011, a certificate of insurance was issued to him with Membership No. 0219370923 with date of commencement as 26.05.2011. The certificate of insurance was dispatched to the concerned Master Policy Holder (V2 International) through DTDC Courier dated 27.5.2011 vide POD No. P15712107 which was duly received by the Master Policy Holder on 2.6.2012. The Complainant never raised any objections about the terms & conditions of the Policy after receipt and continued to enjoy the benefits of membership including risk cover of Rs.1.00 lac as per terms of the contract. Opposite Parties have also added that the Complainant has not approached this Forum with clean hands, as he failed to pay yearly regular premium @ Rs.20,000/- due on 26.05.2012, as stipulated in the certificate of insurance.

          On merits, Opposite Parties have denied the allegations of the Complainant that he has no income. The Complainant has fully understood the features, benefits, charges, investment risks & terms and conditions of the Unit Linked Regular Premium “Group Unit Gain” policy issued to V2 international. He has himself out of his free will proposed to be enrolled as a Member of the said Group Policy vide proposal dated 24.5.2011. Certificate of Insurance was issued to him with date of commencement as 26.5.2011. Moreover, the Complainant never complained about non receipt of the certificate of insurance. It is pleaded that the Complainant himself opted for the Membership of the master policy and opted for the Unit Linked Policy knowing well that the investment held under the unit account are subject to market and other risks. Denying all other averments of the complaint, Opposite Parties have prayed for dismissal of the complaint. 

4.          The Complainant also filed rejoinder by way of affidavit wherein the averments as contained in the complaint have been reiterated and those as alleged in the written statement by the Opposite Parties have been controverted.

5.          Parties were permitted to place their respective evidence on record, in support of their contentions.

6.          We have heard the learned counsel for the parties and have perused the record.

7.          The case of the Complainant is that despite depositing a sum of Rs.20,000/- with the Opposite Parties, no response was received by him about the kind of the policy issued to him. In fact, as he had no proof of the payment made, he has obtained a Certificate from the ICICI Bank, which has been placed on record at Annexure C-1, to substantiate that Rs.20,000/- was paid by him to the Opposite Parties through Cheque No. 72320 which was realized by the Opposite Parties on 27.5.2011.

8.          The Opposite Parties in reply have contended that the Complainant has filled a proposal from which is on record and he is full aware of the terms and conditions of the Policy, which has been sent to the Master Policy Holder. A perusal of the proposal from shows that the Master Policy Holder is V2 International. The Member is Ajit Singh Kundi (Complainant in the present case), Premium is Rs.20,000/- and the frequency of premium is annual. The proposal form has been signed by the Complainant as well as the authorized signatory of V2 International. The certificate of insurance has been issued in the name of the Complainant (Annexure R-2), which according to the Opposite Parties has been delivered to the Master Policy Holder. Whether the same has been forwarded to the Complainant by the Master Policy Holder is not on record. The terms and conditions of the policy issued in the name of V2 International by the Opposite Parties have been placed on record at Annexure R-3. The Complainant has stated that he has not received any papers from the Opposite Parties and all contentions made by the Opposite Parties in their reply have been given as wrong and denied by the Complainant in his rejoinder.

9.          As per the version of the Opposite Parties, the certificate of insurance was dispatched to the concerned Master Policy Holder. However, the Opposite Parties have not been able to prove that this certificate has ever been received by the Complainant. Moreover, the said Master Policy Holder i.e. V2 International is not a party to the lis. In these set of circumstances, we can safely surmise that the Complainant is not aware of the terms and conditions of the policy/ certificate of insurance issued in his name either directly or through V2 International, as proof of receipt of the same by him is not on record. To our mind, the grievance of the Complainant is definitely genuine and needs to be redressed.

10.        We accordingly allow the present complaint and direct the Opposite Parties to refund Rs.20,000/- received from the Complainant for the insurance policy issued in his name. This amount be refunded by the Opposite Parties after deduction of applicable statutory charges. Opposite Parties will also pay Rs.5,000/- towards costs of litigation. 

11.        This order be complied with by the opposite parties within 45 days from the date of receipt of its certified copy, failing which due amount will carry interest @9% p.a. from the date of receipt till actual payment, besides the costs of litigation

12.        The certified copy of this order be sent to the parties free of charge, after which the file be consigned.

Announced

31^st May, 2013                            

Sd/-

(MADHU MUTNEJA)

PRESIDING MEMBER

Sd/-

 (JASWINDER SINGH SIDHU)

MEMBER