By: Smt. R.K.Madanavally, Member
Facts in brief:-
The complainant herein had remitted an amount of Rs.147726/- towards opposite party through an agent Mr. Janaradhanan. The above said amount was remitted by three yearly installments from 2008 to 2010. The agent had offered 50% guarantee to the above loan.
Thereafter, 4 ½ years, the complainant contacted to the opposite party and it was told by the opposite party that the total amount in the account of the complainant was Rs.86603/-.
The complainant submits that the above amount was deposited by him by pledging the gold ornaments of his wife. Now the complainant wants the entire amount which was paid by him along with compensation. Hence this complaint.
The opposite party appeared and filed detailed version by denying the entire allegations/averements in the complaint. It is alleged by opposite party that there is no cause of action for the complaint, the complainant is filed after the period of limitation, the complaint is not proper and this Forum lacks jurisdiction etc.
According to opposite party, the complainant had taken the policy ie Birla Sun Life Insurance “saral jeavan” plan voluntary by knowing well about the terms and conditions of the policy. The complainant had not raised any complainant with respect to the allegations mentioned in the free look period. The details of the policy were explained in the proposal form which was given to the complainant.
It was submitted by the opposite party that the said plan was a UIIP and the said plan is subject to market conditions and is subject to various market charges such as administrative charges etc. The complainant had paid only 3 premiums and there after has not paid any further amounts. In the event of the surrender, the complainant would be paid as per the surrender clause of the policy contract and to enjoy the financial benefits, he needs to pay the whole premiums.
The complainant is raising the complaint in first time and he had not made any complaint in the free look period and now, in order to victimized the opposite party and extract money a false and frivolous complaint is filed by the complainant. Hence it has to be dismissed with cost.
The main issues arises for our consideration here in are;
1)Whether the opposite party is deficient in their services
2)If so, relief and cost.
Point No.1 and 2
Both the complainant and opposite party adduced documentary evidences. Ext. A1 to A7 were marked on the side of the complainant and Ext. B1 and B2 were marked on the side of opposite party. It is admitted by opposite party that 3 premiums were made by the complainant. The complainant had produced all the receipts to show that he had paid a total amount of Rs. 147726/-.
The opposite party was taken a specific contention that the complainant never made the complaint with in the free look period and so he as no right to complaint against the opposite party and the complainant was bound to obey the conditions specified in the agreement ie Ext. B1. Further, the policy taken by the complainant was a market policy and the amount will be varied in accordance with the market conditions.
Though all the terms and conditions are mentioned in the Ext. B1, one cannot read and under stood it as it has written in a tiny letters. There may be some conditions, but the opposite party ought to have conveyed the conditions to the complainant.
Now, the complainant is not intending to proceed with the policy. The opposite parties are right in their submissions that it is a market policy. The rulings were also submitted. But once it is failed to convey the consumers/parties, that amounts to deficiency, other wise it is misleading though it was signed by the complainant.
Hence in the light of the available evidences and in lieu of the averments put forward by the learned counsels, we are passing the following orders.
The opposite party shall remit Rs.147726/- to the complainant along with a cost of Rs.3000/- failing which opposite party shall further pay 6% interest upon the above amount from the date of pronouncement of this order.
If the opposite party had paid any amount towards the complainant that should be deducted from the above amount.
This order shall be complied with in one month from the date of receipt of copy of this order.
Dated this 5th day of February, 2016
R.K.MADANAVALLY , MEMBER (In-Charge of President)
MINI MATHEW, MEMBER
APPENDIX
Witness examined on the side of the complainant : Nil
Documents marked on the side of the complainant : Ext.A1to A7
Ext.A1 : Photo copy of the cover note.
Ext.A2 : Renewal premium receipt
Ext A3 : Reply letter issued from office of the insurance ombudsman to the complainant
Ext A4 : Policy account statement.
Ext A5 : Policy account statement.
Ext A6 : Premium paid certificate.
Ext A7 : Account statement.
Witness examined on the side of the opposite party : Nil
Documents marked on the side of the opposite party : Ext. B1
Ext.B1 : Policy Schedule.
Ext.B2 : Premium paid certificate.
R.K.MADANAVALLY , MEMBER (In-Charge of President)
MINI MATHEW, MEMBER
