DISTRICT CONSUMER DISPUTES REDRESSAL FORUM PALAKKAD

Dated this the 16^th day of February 2011

Present : Smt.Seena H, President

: Smt. Preetha.G. Nair, Member

: Smt. Bhanumathi.A.K, Member Date of filing: 23/02/2010

(C.C.No. 30/2010)

K.B.Sivaramakrishnan

S/o.Bhaskara Vaidyar,

“Deepthi”, Harisankar Road,

Tharekkad Palakkad - Complainant

(By Adv.K.K.Sudhir)

V/s

1.Chief Manager

LIC of India, Aluva Branch

Aluva Post, Ernakulam District

(By.Adv.T.P.George)

2. Branch Manager

LIC of India, Branch Office

Palakkad

(By.Adv.T.P.George)

3.The Manager

Federal Bank

Palakkad Branch,

Palakkad - Opposite parties

O R D E R

By Smt.BHANUMATHI A.K. MEMBER

The case of the complainant in brief:

The complainant was an employee in Federal Bank. While he was working in bank he took a insurance policy No.66414845 and he had assigned policy to his employer bank and obtained loans. He retired in the year 1999 and while in service the employer bank has remitting the premium and at the time of his retirement in the year 1999 the complainant had cleared all the dues of the bank and the bank has informed the same to the 2^nd opposite party. When the complainant claimed the LIC maturity amount the 2^nd opposite party did not disburse the amount for the reason that ' the file has not seen '. 2^nd opposite party further informed the complainant that this matter is now handled by 1^st opposite party. As directed by the 2^nd opposite party the complainant sent notice to the 1^st opposite party. In the reply notice the 1^st opposite party informed the complainant to produce original policy and some other documents. But the above documents are sent to the 1^st opposite party by the Federal Bank. Even after submitting the policy No. and details, the opposite parties did not settle the claim. So the complainant is seeking an order directing the opposite party to pay the policy maturity amount with interest @ 12% from the date of maturity and cost of the proceedings.

Opposite party contents in their version that on receipt of lawyer notice dated 11/5/09, the 1^st opposite party has sent a reply dated 16/5/09 requesting the complainant to produce the original policy documents for verification, confirmation from the Federal bank Ltd., regarding remittance of premium details of assignment and reassignment etc. to process the claim. The complainant instead of producing the said documents and other requirements has made this complaint. Unless these documents and requirements are produced, the corporation is not able to consider the claim.

Both parties filed their respective affidavits. Ext.A1 to A10 marked on the side of the complainant. There is no documentary evidence adduced on the side of the opposite party.

Matter heard.

Now the issues that arises for our consideration is that

1. Whether there is any deficiency in service on the part of opposite parties ?

2. If so, what is the relief and costs complainant is entitled to ?

We have gone through the entire evidence on record.

Complainant was an employee of the Federal Bank Ltd. He took a life insurance policy No. 66414845. While he was in service he had assigned the policy to his employer bank and obtained loans. He retired in 1999 and while in service the employer bank was remitting the insurance premium and that at the time of his retirement in 1999 the complainant had cleared all dues of the bank and the same was informed by the bank to 2^nd opposite party. When the complainant enquired about the claim, 2^nd opposite party informed that this matter is handled by the 1^st opposite party. Complainant contacted with 1^st opposite party and he was informed to produce the original policy for verification, confirmation from the Federal Bank Ltd regarding the remittance of premium details of assignment and reassignment etc. But complainant says that these documents were already handed over to 1^st opposite party by the Federal Bank, but the opposite parties are not taking actions to settle the claim. 1^st opposite party has sent reply notice requesting the complainant to produce the original policy document for verification, confirmation from the Federal Bank Ltd. regarding remittance of premium details of assignment and reassignment etc. to process the claim. But the complainant did not do so.

Opposite parties argued that if the complainant had assigned the policy to his employer bank and availed loan on security of the policy from the bank and the loan was repaid the bank would have under normal circumstances reassigned the policy to the complainant himself and that document must be in his custody only.

Unless those documents and requirement are produced, the corporation is not able to consider the claim. It is admitted by the opposite party that the complainant took a life insurance policy for Rs.20,000/ on 28/8/1984. Ext.A1 document reveals the same.

Opposite parties produced policy file as per order in IA 350/2010 and marked as Ext.A10 i.e. details of maturity claim calculation shows that the complainant had paid premium only for 4 years and 6 months. The paid up value is Rs.4500/ and the accrued bonus is Rs.4320/- So that total amount due to complainant is Rs.8820/- The complainant alleges that he has paid premium through the Federal Bank Ltd. But complainant has not produced any document to prove that he has paid premium through the bank. So in the absence of any concrete evidence we can't attribute deficiency of service on the part of opposite parties.

From the above discussions we are of the view that the complainant is not entitled to get any amount as compensation as he has not produced the necessary document in time.

So we partly allow the complaint. 3^rd opposite party is exonerated from the liability. Opposite parties 1 & 2 are jointly and severally directed to pay an amount of Rs.8820/ to the complainant. Parties are directed to suffer their respective costs.

Order shall be complied within one month from the date of receipt of order failing which the whole amount shall carry 9% interest from the date of order till realization.

Pronounced in the open court on the 16^{th t} day of February 2011.

Sd/-

Smt.Seena H

President Sd/-

Smt.Preetha.G.Nair

Member

Sd/-

Smt.Bhanumathi.A.K Member

APPENDIX

Exhibits marked on the side of the complainant

Ext.A1 – Original Policy No.66414845

Ext.A2 – Copy of Lawyer notice dtd.25/4/09

Ext.A3 – Reply to Lawyer notice dtd.30/4/09

Ext.A4 – Copy of lawyer notice alongwith A/D card dtd.11/5/09

Ext.A5 -Repy lr. Of LIC Chief Manager dated 16/5/09

Ext.A6 – Copy of Lr. Addressed to Chief Manager LIC dtd.29/5/09

Ext.A7 -Reply lr dated Chief Manager LIC dated 24/6/09

Ext.A8 – Status report of LIC Policy No.66414845

Ext.A9 – Copy of Claims module – display of claim master records

Ext.A10 – Details of maturity claim calculation

Exhibits marked on the side of the opposite party

Nil

Cost

No cost Allowed