West Bengal

Bankura

CC/45/2018

Sri Sukalyan Mondal - Complainant(s)

Versus

Bajaj Allianz Life Insurance - Opp.Party(s)

Tapan Dey

04 Apr 2024

ORDER

IN    THE   DISTRICT   CONSUMER   DISPUTES   REDRESSAL COMMISSION, BANKURA 

  Consumer Complaint No. 45/2018

                                                      Date of Filing: 26/07/2018                                            

Before:                                        

1. Samiran Dutta                            Ld. President.      

2. Siddhartha Sankar Bhui            Ld. Member. 

 

For the Complainant:  Ld. Advocate Tapan De

For the O.P.:  None

 

Complainant

Sri SukalyanMondal, S/O Sri SwapanMondal, Vill& P.O. Magura, Makarandapur, P.S. Joypur, Dist-Bankura, West Bengal,  Pin-722138

OppositeParty

                                                                                                                                                                                                                              1. Bajaj Allianz Life Insurance Co. Ltd., 9/10 2^nd Floor, AbinashSarani,

Chandmaridanga, P.O., P.S. &Dist- Bankura, West Bengal, West Bengal, Pin

No.-722101.

 

2. Bajaj Allianz Life Insurance Co. Ltd., Fast H.O.B. 3^rd Floor, Eco Space, Plot

     No.1/F/11 (Old No. AA-11/BLK- 2 IT) Rajarhat, New Town, Kolkata-700156.

 

3. Mr. Kshitij Jain, managing Director & C.E.O. , Exide Life Insurance Co.

     Ltd., Regd. Office-3^rd Floor, J.P. Techno Park, 3/1, Millers Road, Bangaluru-

     5600001.

 

4.  Mr. Akash Roy (Agent), C/o Bajaj Allianz Life Insurance Co. Ltd.,Agent Id.

      No. 56497, East H U B, 3^rd Floor, Eco Space Flat No. 1/F/11, Rajarhat, New

      Town, Kolkata- 700156.………………………………………….…Opposite Parties.

 

                                                                                   FINAL ORDER / JUDGEMENT

Order No.44

Dated: 04-04-2024

Complainant files hazira through Advocate.

No step is taken by the O.P.

The case is fixed for ex-parte hearing.

The Complainant’s case is that he purchased one LIC Policy from O.P. No.1/Bajaj Allianz Insurance Co. Policy No. being 0312634205, Product Name: Bajaj Allianz Invest Assure with Policy term 15 years commencing from 24/02/2014 and maturing on 23/02/2029 with premium paying term for 5 years covering Sum Assured on death Rs.2 Lakh on payment of regular premium of Rs.17,716.02 but could not continue the same for subsequent years. It is alleged that he gave Rs.18,000/- to his Agent i.e. O.P. No.4 for revalidation of the lapsed Policy which was allegedly used by O.P. No.4 for purchase of other Insurance Policy from O.P. No.3/Exide Life Insurance Co. Ltd. vide Policy No.03464648. On the insistence of the Complainant to cancel the aforesaid Bond O.P. No.4 supplied him another Policy Bond vide No.0341150, dt.02/01/2017 for Rs.99,999/- without cancellation of the above mentioned Policy Bond. The Complainant has therefore approached this Commission for appropriate relief.

Despite service of Notice none of the O.P.s turned up to contest the case.                    

                                                                                                                                                                                          Contd……p/2

                                                                                                          Page: 2

On perusal of the entire materials on record the Commission finds that all the supporting documents of the above mentioned three Policy Bonds and the premium payment receipts are on record to justify the claim of the Complainant. Receipt of Rs.18,000/- by O.P. No.4 in plain paper appearing from Annexure-B cannot be treated as a premium receipt issued by the O.P. No.1/Bajaj Allianz Ins. Co.

Insured and Insurer shall be guided and regulated by the terms and condition of the Policy document and the Insurer will not take the responsibility of any non-deposit of premium through Agent. It is evident from the record that the Complainant has been misguided by O.P. No.4 / Agent to purchase Insurance Policy from O.P. No.3/Exide Life Ins. Co. It is a criminal act committed by O.P. No.4 and the Commission has nothing to do with the same.

It is no doubt true that all the above mentioned three Policy Bonds namely No.0312634205, 03464648 & 03471150 issued by Bajaj Allianz Life Ins. Co. and Exide Life Ins. Co. respectively in favour of the Complainant stand lapsed for non-payment of due premiums and whatever amount has been given to O.P. No.4/Agent unofficially towards payment of premiums cannot be taken into consideration by this Commission unless it is ratified by the concerned Insurance Co. Thus the Complainant in consequent upon the lapse of all the three Policies is entitled to get paid up premium value viz. Rs.17,716.02 out of Policy Bond No. 0312634205, Rs.17,738.33 out of Policy Bond No.03464648 and Rs.99,999/- out of Policy Bond No.03471150 from the concerned Insurance Company after deduction of service tax and other charges along with statutory deduction as per terms and condition of the Policy.

Hence it is ordered……

That the case be and the same is allowed ex-parte but without cost.

O.P. No.1/Insurance Co. is directed to pay to the Complainant Rs. 17,716.02 after deduction of service tax and other charges and O.P. No.3 is directed to pay to the Complainant Rs.17,738.33 and Rs.99,999/- after deduction of service tax and other charges along with statutory deduction within one month from this date in default law will take its own course.

Both parties be supplied copy of this order free of cost.

 

____________________                 _________________         

HON’BLE   PRESIDENT           HON’BLE MEMBER