Order No. 14 dt. 23/09/2019
The case of the complainant in brief is that the complainant purchased a policy being no.0029561931 from o.p. The product name of the said policy is Bajaj Allianz Unit Gain Premier – Single. The date of commencement of the said policy was 24.11.06 and the maturity of the said policy was 24.11.16. The complainant paid Rs.50,000/- as onetime premium for purchasing the said policy and the sum assured of the said policy was Rs.2 lakhs. On 28.6.17 the complainant submitted a direct credit request letter to o.p. stating that all the relevant details of bank account in which the sum assured of the said policy was to be deposited. In the acknowledgement letter provided by o.p. the address of the complainant was wrongly noted as Road No.4, Mahesh Nagar, Patna, Bihar. The complainant upon seeing his wrong address of the said acknowledgement letter immediately brought it to the notice of customer care personnel. He was assured that his grievance shall be redressed soon. Thereafter whenever the complainant found that the sum assured of the said policy was not deposited in the account of the complainant he again submitted complaint to o.p. The bank details of the complainant in which the sum assured of the said policy should be deposited is given below:
Bank Name : UCO Bank
IFSC Code : UCBA0000621
Bank Account : 06210100001148
Branch : Rishra
Bank A/c Holder Name : BIPIN BIHARI SINGH
Since said amount was not credited in the said account the complainant, therefore, filed this case praying for direction given to o.p. to pay immediately the sum assured of the policy no.0029561931 purchased by the complainant along with interest @ 18% p.a. and also prayed for compensation of Rs.50,000/- and litigation cost.
The o.p. contested this case by filing w/v and denied all the material allegations of the complaint. It was stated that in order to avail such policy the complainant signed the illustration document which clearly states the working benefits term and type of policy. The said policy was for a term of 10 years with a single premium of Rs.50,000/-. Upon receipt of the duly filled up and signed proposal form along with premium cheque o.p. issued a policy no.0029561931. The original document of the said policy was delivered upon the complainant as per IRDA guidelines and option to return the policy has been provided whereby the complainant could have cancelled the policy within free look period i.e. 15 days from the date of received the policy. But the complainant did not opt for the option of return of the policy within free look period. After completion of the policy the maturity amount of Rs.81,631/- was paid to the complainant, the policy holder, by way of HDFC cheque no.418742 dt.24.2.17. Upon payment of maturity amount relationship between the parties has ceased to exist and as such, present complaint is not maintainable. The o.p. categorically stated that there is no deficiency in service or negligence or unfair trade practice on the part of o.p. the figure given by the complainant is baseless and imaginary and no reliance can be placed on the same. The complainant has also annexed the proposal form. The o.p. categorically stated that in the month of June, 2017 the complainant provided the bank account maintained by him with UCO Bank for depositing the maturity amount. Since the maturity amount of Rs.81,631/- was already paid to the complainant vide cheque no.418742 dt.24.2.17 and no fault or bounce confirmation of the said cheque was received, the o.p. could not proceed with the request of the complainant. The o.p. has already provided the cheque no., date and amount along with the issuing bank. On the basis of the said fact o.p. categorically stated that there is no deficiency in service or unfair trade practice on their part and accordingly, o.p. prayed for dismissal of the case.
On the basis of the pleadings of parties the following points are to be decided:
- Whether the complainant purchased the policy from o.p.?
- Whether after maturity period the sum assured amount was paid to the complainant?
- Whether there was any deficiency in service on the part of o.ps.?
- Whether the complainant will be entitled to get the relief as prayed for?
Decision with reasons:
All the points are taken up together for the sake of brevity and avoidance of repetition of facts.
Ld. lawyer for the complainant argued that the complainant purchased a policy being no.0029561931 from o.p. The product name of the said policy is Bajaj Allianz Unit Gain Premier – Single. The date of commencement of the said policy was 24.11.06 and the maturity of the said policy was 24.11.16. The complainant paid Rs.50,000/- as onetime premium for purchasing the said policy and the sum assured of the said policy was Rs.2 lakhs. On 28.6.17 the complainant submitted a direct credit request letter to o.p. stating that all the relevant details of bank account in which the sum assured of the said policy was to be deposited. In the acknowledgement letter provided by o.p. the address of the complainant was wrongly noted as Road No.4, Mahesh Nagar, Patna, Bihar. The complainant upon seeing his wrong address of the said acknowledgement letter immediately brought it to the notice of customer care personnel. He was assured that his grievance shall be redressed soon. Thereafter whenever the complainant found that the sum assured of the said policy was not deposited in the account of the complainant he again submitted complaint to o.p. The bank details of the complainant in which the sum assured of the said policy should be deposited is given below:
Bank Name : UCO Bank
IFSC Code : UCBA0000621
Bank Account : 06210100001148
Branch : Rishra
Bank A/c Holder Name : BIPIN BIHARI SINGH
Since said amount was not credited in the said account the complainant, therefore, filed this case praying for direction given to o.p. to pay immediately the sum assured of the policy no.0029561931 purchased by the complainant along with interest @ 18% p.a. and also prayed for compensation of Rs.50,000/- and litigation cost.
Ld. lawyer for the o.p. argued that in order to avail such policy the complainant signed the illustration document which clearly states the working benefits term and type of policy. The said policy was for a term of 10 years with a single premium of Rs.50,000/-. Upon receipt of the duly filled up and signed proposal form along with premium cheque o.p. issued a policy no.0029561931. The original document of the said policy was delivered upon the complainant as per IRDA guidelines and option to return the policy has been provided whereby the complainant could have cancelled the policy within free look period i.e. 15 days from the date of received the policy. But the complainant did not opt for the option of return of the policy within free look period. After completion of the policy the maturity amount of Rs.81,631/- was paid to the complainant, the policy holder, by way of HDFC cheque no.418742 dt.24.2.17. Upon payment of maturity amount relationship between the parties has ceased to exist and as such, present complaint is not maintainable. The o.p. categorically stated that there is no deficiency in service or negligence or unfair trade practice on the part of o.p. the figure given by the complainant is baseless and imaginary and no reliance can be placed on the same. The complainant has also annexed the proposal form. The o.p. categorically stated that in the month of June, 2017 the complainant provided the bank account maintained by him with UCO Bank for depositing the maturity amount. Since the maturity amount of Rs.81,631/- was already paid to the complainant vide cheque no.418742 dt.24.2.17 and no fault or bounce confirmation of the said cheque was received, the o.p. could not proceed with the request of the complainant. The o.p. has already provided the cheque no., date and amount along with the issuing bank. On the basis of the said fact o.p. categorically stated that there is no deficiency in service or unfair trade practice on their part and accordingly, o.p. prayed for dismissal of the case.
Considering the submissions of the respective parties it is an admitted fact that the complainant purchased the policy from o.p. The complainant filed evidence on affidavit whereby he claimed that after the maturity period he wanted to have the refund of the amount. The complainant has also stated that he provided the address to o.p. along with the bank’s name, account number and IFCS Code number. The complainant has stated that in the acknowledgement letter the address was wrongly mentioned that as Road No.4, Mahesh Nagar, Patna, Bihar. The complainant lodged a protest regarding mentioning of the address in the acknowledgement letter which was also informed to the bank and the bank assured the complainant that they would rectify the address, but unfortunately the complainant noticed that the amount was not deposited and he made an enquiry. The o.p. has informed that the amount has already been released from their side and thereby they cannot pay the said amount. The complainant was categorically asked question by o.p. in question no.16 whether the complainant can deny that maturity amount of the said policy has already paid by the bank vide cheque no.418o742 dt.24.2.17 to which he denied that the amount was received by him or the said amount was credited to his account. The o.p. has also in their evidence admitted that the complainant in the month of June 2017 provided bank details of the bank account maintained by him in UCO Bank for depositing the maturity pay out. However, o.p. did not act on the same as the maturity amount of Rs.81,631/- was paid to the complainant by way of HDFC Bank cheque no.418742 dt.24.2.17 and no fall out or bounce confirmation of the said cheque was received from the bank by o.p. The complainant put the question to o.p’s representative why you have not tendered any document in your evidence for marking as exhibit to substantiate your claim that he had delivered HDFC cheque no.418742 dt.24.2.17 by o.p. In reply to the said question the evasive answer was provided and no documentary evidence was filed to that effect. In view of such evidence on record we hold that the amount as claimed by the complainant was not credited in the account of the complainant and thereby, the complainant will be entitled to receive the amount along with compensation and litigation cost. On the basis of the said fact we hold that there is deficiency in service and unfair trade practice on the part of o.p. and the complainant will be entitled to get the sum assured amount as well as compensation and litiati9on cost. Thus all the points are disposed of accordingly.
Hence, ordered,
That the CC No.264/2018 is allowed on contest with cost against the o.p. The o.p. is directed to pay an amount of Rs.81,631/- (Rupees eighty one thousand six hundred thirty one) only to the complainant along with compensation of Rs.20,000/- (Rupees twenty thousand) only for harassment and mental agony and litigation cost of Rs.5000/- (Rupees five thousand) only within 30 days from the date of communication of this order, i.d. an interest @ 8% p.a. shall accrue over the entire sum due to the credit of the complainant till full realization.
