MR. BIBEKANANDA DAS, MEMBER:-
This C.C.Case No. 24/2020 is taken up today for order, Heard the Ld. Counsels for both the parties and perused all the documents/materials available on record.
As per the allegation of the Complainant the Insurance Co. OPNo.1 to 4 taken one time premium of Rs. 51,240/- and insured Complainant’s house under a housing loan sanctioned by OP No.5 in favour of Complainant and there was a condition that the Insurance will continue for 20 years/240 months from Nov, 2010 to Nov,2030, but the Complainant repaid the loan amount in the year 2019 and thereby foreclosed on 17.01.2019. Therefore after closure of loan amount surrendered the Insurance Policy signed by OPNo.5 and produced before OpNo.1 to 4 but OpNo.1 to 4 failed to pay the surrender value for rest 11 years policy value.
As per the averments made by Op No. 1 to 4 in their written version they contended that they have paid surrender value Rs. 8897/- with interest Rs. 863/- & transferred it to the Complainant’s Account and the same admitted by the Complainant.
In our considered view the OpNo.1 to 4 have already complied with put forth by the Complainant, but failed to answer the mental agony undergone during the period & the litigation expenses spent by the Complainant. This Commission while considering all the facts & circumstances not imposing penalty for compensation but it is diserable to grant relief on account of expenses in litigation cost. It is directed that the Opno.1 to 4 are liable to pay Rs. 3,000/- as litigation cost for end of justice.
On the above observation the C.C.Case is accordingly disposed off.
Issue extract of the order to the parties for compliance.
Pronounced in the open Commission, on this the 5th day of December,2022.
I, agree.
Sd/- Sd/-
MEMBER PRESIDENT
