For complainant           :             Self.

For OPs. 1 & 2                :             Sri B.K. Patra, Advocate & associates.

                                                                        -x-

1.                         The brief history of the case of the complainant is that he is the policy holder of M/s. Bajaj Allianz LIC Ltd (OP.1) having been opened two policies  vide No.56533392 & 56402180 by depositing Rs.5000/- each during proposal but could not deposit further premiums due to his financial hardship.  It is submitted that he wrote several letters to both the Ops to make refund his deposits but to no reply.  Thus he filed this case praying the Forum to direct the Ops to pay Rs.10, 000/- with interest and to pay Rs.90, 000/- towards compensation and costs to the complainant.

2.                         The Ops filed counter in joint admitting both the policies taken by the complainant during the year, 2007 by depositing Rs.5000/- towards first premium during proposal but due to  nonpayment of further premiums, the policies were foreclosed and no benefit would be payable.  It is further submitted that since the policies were unit linked which will deduct mortality and fund management charges on a monthly basis as per product feature and no amount can be payable.  With these and other contentions, denying any fault on their part, the Ops prayed to dismiss the case of the complainant.

3.                         Both the parties have filed certain documents in support of their cases.  Heard from the Ops through their A/R and perused the materials available on record.  The complainant has filed written argument.

4.                         In this case it is seen that the complainant has opened 2 policies with the Ops in the year, 2007 by depositing the initial premium at the time of proposal and no further premium has been paid.  The Ops have admitted the policies taken by the complainant and stated that the policies are unit linked plan.  According to the Ops, as per policy features, mortality and fund management charges were deducted from the premiums due to non deposit of further premiums and also have foreclosed the policies.  Further revival period of the policies was also lapsed due to nonpayment of premiums.  The Ops further stated that they have covered the life of the complainant and due to non deposit of premiums, the same were foreclosed and no benefit would be payable as per policy conditions.  The facts being true, it is seen that the complainant has come up with this case after 10 years of cause of action arose and hence the case is also barred by time.

5.                         In view of above facts and circumstances, we do not find any merit in the case of the complainant which needs to be dismissed.  In the result, we dismiss the case of the complainant.  Parties are to bear their own costs.

(to dict.)