MR. PRAVAT KUMAR PADHI,PRESIDENT.
The Complainant has filed the C.C. Case No. 175/2023 U/s -35 of C.P.Act -2019 seeking to issue NOC by the Ops and compensation amounting to Rs.2,10,000/- towards the claim amount.
Brief fact of the case of the Complainant is that Complainant took a loan from erstwhile Syndicate Bank which on merger became Canara Bank vide loan A/c. No 80288540000196 by mortgaging L.I.C. Bond vide Policy No.584784601.The Complainant has settled the loan on OTS scheme on dtd.29.01.2019. It is the allegation of Complainant that the Ops have not issued the NOC and returned the L.I.C. Bond . On dtd.04.08.2023 Advocate for the Complainant issued legal notice for issuing NOC and to return L.I.C. Bond. On receipt of the same the Ops have issued a letter on dtd.29.01.2019. But nothing has been mentioned regarding Loan A/c Bond .After filing of the C.C.Case, the Ops have appeared and filed their written version stating that, after closure of loan documents pledged including L.I.C. bond bearing No.584784601 was handed over to the complainant on the date of closure of loan, The Ops further intimated the Claimant/ Complainant that after closure of loan the bank returned the bond with intimation to the L.I.C to delete lien/pledge by endorsing the same on the back side of policy as per usual practice but no document regarding retune of bond has been filed before this Commission to ascertain whether the L.I.C bond pledged with the Ops have been released or not. The loan settled on dtd. 29.01.2019 but as to why the Complainant remained silent for more than 4 ½ years has not been explained in the Complainant petition. The period of limitation U/s -69 of C.P.Act -2019 is two years and if we go by the strict principle of law in absence of any petition for condonation of delay the C.C.Case is liable to be dismissed. But the Consumer should not be harassed for delay in approaching this Commission as the claim of Complainant to get the L.I.C benefit is a continuing cause of action.
The Ops also admitted that they have already intimated the L.I.C. regarding clearing of the loan of the Complainant .The Ops have failed to produce any documents to prove that the complainant has received the L.I.C Bond and NOC after closure of the loan.
We therefore held that Ops are negligent to obtain the signature after closure of loan and we are not informed on which date L.I.C. policy has been returned .The Ops have filed a letter of L.I.C. dtd.05.05.23 wherein it is informed that Rs.24,487/- is payable under the above policy on dtd.28.03.23.The Complainant is directed to apply the L.I.C. Authorities for payment of the above mentioned amount immediately and the OPs shall co-operate the Complainant and L.I.C. authorities for disbursement of the amount if so required. The Ops shall pay interest for one year @ 10% of the maturity value and shall pay cost of Rs.5,000/- towards mental agony and Rs.2,000/- towards cost of litigation. The Ops shall also issue NOC/NDC regarding no dues certificate to the Complainant within 45 days from the date of receipt of this order.
With the aforesaid observation and direction the C.C.Case No. 175/2023 is accordingly disposed off.
Issue extract of the order to the parties for compliance.
Pronounced in the open Commission, on this the 18th day of June ,2024
I, agree,
Sd/- Sd/-
MEMBER PRESIDENT
