By P.K.Nayak,MALL.B, Member.
Facts and findings:-
The complainant has filed complaint against the O.Ps on 04.02.2021 praying for a direction to O.Ps for release of Rs.34,113/- with 18% interest per Annum till realization alongwith a compensation of Rs.50,000/- for his negligence, unfair trade practice by the O.Ps and for cost of litigation.
Facts of the case.
The complainant is the wife of the deceased policy holder Namely Sri Babulal Bagh who had opened a LIC policy vide No.57091765 on dtd.28.12.2000 for a sum assured of Rs.34,000/- under plan 91, with terms 16 years through the agent named Durga Prasad Tripathy O.P.No.1 whose yearly installment premium was Rs.2234/-The said policy was in lapsed conditions for non-payment of premium for the period from 12/2004 and onwards. The husband of the complainant died on an accident on dtd.6.8.2013 and at any time he has not taken any loan from the O.P. in his life time, but the O.P.No.1 fraudulently sanctioned a loan by himself in the name of the complaint’s husband without the signature and beyond the knowledge of the complainant’s husband. Thus the O.Ps arbitrarily adopting unfair trade practice paid Rs.1927/-through NEFT to her account and deducted Rs.34,113/- from the total amount of the matured value of the complainant.
On the otherhand the O.P on its version submits with evidence details of Insurance Policy loan and death claim settlement .That the Policy instituted on dtd.28.12.2003 with policy No.570917565, yearly installment of Rs. 2234/-, term 16 years and clarify about the loan that as the policy was in lapsed condition for non-payment of premium due from 12/2009 and onwards. So on 31.7.2013 the life assured wanted to revive the policy by paying 4 yearly dues of Ra.8,936/- for the period of 12/2009 to 12/2012 plus interest of Rs.1967/- on dtd.31.7.2013.The O.P sent the balance amount of loan Rs.7,437/- through NEFT to his Account NO.1696010029005 of United Bank of India, Sonepur Branch which was credited in the above account of the complainant on 2.8.2013.As the life assured died on date 6.8.2013 and his death claim papers was received in late so it was settled on 293.2020, the death claim amount was calculated to the tune for Rs.48,790/-(Sum assured as Rs.34,000/- + Bonus Rs.14,790/-).So after deduction of outstanding loan amount of Rs.18,250/- plus interest of 6 days of Rs.25/- from Rs.48,790/- the rest of Rs.30,515/- was paid to the complainant in her account No.34486073507 of SBI Palasagora Branch, with IFSC SBIN0007764 vide UTR No.ICMS 200325000 EFL on dtd.25.03.2020.
ORDER
On the basis of the submission and evidence produced by the complainant in complaint petition found it is devoid of merits without any documentary evidence, but the version of the O.P is based on documentary evidence. Hence we concluded that the complaint petition stands dismissed against the O.Ps without cost on contest.
Order pronounced in the open court this the day 20th March,2023 under the seal and signature of this Commission. Free copy of order be supplied to the parties, if applied for.
