DISTRICT CONSUMER DISPUTES REDRESSAL FORUM (CENTRAL)

MAHARANA PARTAP BUS TERMINAL: 5^th  FLOOR.

KASHMERE GATE DELHI.

No. DF / Central/ 2015

    Dilip Das

S/o Sh. R. M. Das

R/o Flat no. 299,

Shahid  Bhagat

Singh Apartment

Pocket -3 Sector 14

Dwarka

New Delhi-110075                                                                                                                                 ..........Complainant

Versus

Birla Sun Life Insurance Co. Ltd

Aggarwal Corporate Tower,

New Delhi

Having its registered office at:

Tower 1, 16^th Floor, Jupiter Mill Compound

841, Senapati Bapat Marg, Elphinstone Road, Mumbai-400013

..........Respondent/OP

BEFORE

SH. RAKESH KAPOOR, PRESIDENT

SH. S. N. SHUKLA, MEMBER

ORDER

Per Sh. Rakesh Kapoor, President

“In the case of United India Insurance Co. Ltd. vs. Harchand Rai Chandan Lal (2005 ACJ 570), the Hon’ble Supreme Court has held that the terms and conditions of the contract have to be strictly construed and nothing can be subtracted or add therein.”

    Coming to the facts of the above case , it may be stated that the complainant has filed the present case on the allegations that he had taken a policy bearing number 001324513.  In the year 2007 on payment of Rs. 10,000/- as premium he has further alleged that due to financial problems he could not deposit the further premium in respect of the said policy.  It is also alleged by the complainant that a representative of the O P had told him in January 2013 that on further payment of Rs 20000/- he would be able to get back Rs 65000/- to Rs 70000/- after September 2013.  The complainant has alleged that he deposited a sum of Rs 20,000/- with the OP and received a policy bearing no. 005923461 issued on 29.1.2013.   the grievance of the complainant is that in May 2013 he had approached the OP to get the assured amount of Rs 65000/- / Rs70000/- as promised but the OP had failed to oblige. He has , therefore, approached this forum for a direction to the OP to refund a sum of Rs. 30000/- along with compensation and cost of litigation.

    The OP has contested the complaint and has filed a written statement. It has denied any deficiency in service and has claimed that the complaint is false , frivolous and is liable to be dismissed. It has admitted that it had issued a policy bearing no. 001324513 to the complainant but has claimed that the policy was issue after the complainant had read and understood the terms and conditions of the same. It has also stated that the complainant had a clear 15 days free look in period with in which he had to exercise the option to reject the policy. If the terms were not acceptable to him.  It has stated that the complainant had failed to exercise the said option.  It has claimed that the complaint is without any merits and is liable to be dismissed. It has prayed accordingly.

    We have advanced arguments advanced and have perused the record.

    We have also perused a letter issued to him by the OP at the time of sending the policy documents. The letter contains the following stipulation:-

    “We request you to go through your policy in detail and check the accuracy of the information provided in the policy. You have the option to cancel your policy within 15 calender days from receipt of the policy document by giving us in writing the reason for your affection. We will cancel the policy and returned all the premiums paid by you provided your written notice for cancelation , together with the entire policy contract, has been received by us at any of our branches / head offices within the specified time frame and we have not received any claim intimation.  We reserve the right to reduce the amount of refund by expenditures incurred by us in issuing your policy and as permitted by applicable IRDA regulations.  Admittedly, the complainant had not exercised the option which was available to him during the free look in period, therefore, a binding contract had come into being which cannot not be avoided now.  The parties are bound by the terms and conditions of the said agreement. We, therefore, see no merits in the present complaint. The same is hereby dismissed.

Copy of the order be made available to parties free of cost as per law.

File be consigned to R/R.

Announced in open sitting of the Forum on_____________

     ( S N SHUKLA )              ( RAKESH KAPOOR )

          MEMBER                   PRESIDENT 

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