DATE OF FILING : 22/03/2016
DATE OF S/R : 10/05/2016
DATE OF FINAL ORDER : 06/03/2017
Mrs. CH. Kalyani Devi,
w/o- Ch. Shimachalam, aged about – years,
by Religion- Hindu, by occupation- Householdduties,
residing at 46/1, Ramkrishnapur Lane
Jaihind Bazar,
Howrah:711 101..…………………………………………….. COMPLAINANT.
- Exide Life Insurance Company Ltd.,
represented by its Branch Manager,
having its office at 4, Mangoe Lane,
Surendra Mohan Sarani,
Kolkata 1
- Syndicate Bank, Branch Manager,
represented by its 493/C/A G.T. Road,
Shibpur Howrah 711 102...………………………OPPOSITE PARTIES.
P R E S E N T
Hon’ble President : Shri B. D. Nanda, M.A. ( double ), L.L.M., WBHJS.
Hon’ble Member : Smt. Jhumki Saha.
Hon’ble Member : Shri A.K. Pathak.
F I N A L O R D E R
- Complainant, namely, Mrs. Ch. Kalyani Devi, by filing a petition U/S 12 of the C. P. Act, 1986 ( as amended up to date ) has prayed for a direction to be given upon the o.p.s to refund the surrender value of the policy in question, issued by O.P.no.1, to pay Rs.1,00,000/- as compensation and Rs.25,000/- as litigation cost along with other order or orders as the forum may deem fit and proper.
- Brief fact of the case is that complainant on being persuaded by the agent of O.P.no 1, bought one insurance policy having no.01921751 after making an investment of Rs. 29,500/- through cheque on 22/07/2010. The agent also assured her that she was required to continue the said policy for three years and after that she would get a good amount in return. So, she continued for three years . And she was under an impression that she was not required to make any further payment as she did not go through the terms and conditions of the policy . Moreover , after making three installments she noticed that the policy is having a maturity date on 20/10/2026 and she is required to make payment for another 20 years. Immediately, after going through the policy kit, she contacted the said agent and he told her that she is required to wait for some days , and within 1 year a sizeable amount would be given to her. But even after waiting for a long time, O.P.no.1 did not return her invested amount and on 07/03/2016 , O.P.no1 informed the complainant that they were unable to disburse her invested amount due to lack of her new address proof document. And O.P.no1’s this kind of reply could not satisfy the complainant. So, being frustrated and finding no other alternative, complainant filed this instant case with the aforesaid prayers.
- Notices was served up on O.P.s. Both of them appeared and filed W/V. Accordingly, the case was heard on contest against both the O.P.s.
4. Upon pleadings of both parties two points arose for determination :
i) Is there any deficiency in service on the part of the O.Ps. ?
ii) Whether the complainant is entitled to get any relief as prayed for ?
DECISION WITH REASONS
- We have carefully gone through the W/V and its annexures filed by O.P.no1 and w/v of Proforma O.P.no2 and noted their contents. There is no claim made by the complainant against Proforma O.P.no 2. It is the specific plea taken by O.P. no 1 that they issued the policy document after getting the respective proposal form from the complainant. And it is also admitted by them that complainant surrendered the said policy by filling up the prescribed form vide Annexure 6 of their w/v. In the meantime in September 2012, she changed her communication address which was also done by the O.P.no1 vide Annexure 5 of their w/v. But in the Surrender request form i.e Annexure 6, complainant mentioned different address which was also informed to the complainant vide their letter dt. 02/02/2016 vide Annexure 7. Still complainant did not take necessary steps confirming her residential address. So, on 07/03/2016, O.P.no 1 sent one letter and informed her that they were compelled to close her surrender request. And there is no intentional deficiency of service on their part. Here we take a pause. We have gone through all the documents filed by the O.P.no1. In Annexure 5 , complainant mentioned her new address as 46/1, Ramkrishnapur Lane, Jaihind Bazar, Howrah- 711 101. And in Annexure 6, i.e. surrender request form dt. 25.01.2016, she mentioned her address as 5, Atindra Mukherjee Lane, Shibpur, Howrah. So, the claim of O.P.no1 is found to be correct. But they were equipped with the Bank a/c no of the complainant alongwith the copy of cancelled cheque vide Annexure 51 of their w/v which means they were having all possible informations of the complainant’s bank details . But they did not credit the surrender value of the said policy to the complainant’s bank till date which is nothing but gross negligence on their part. Accordingly, we hold O.P.no1 to be deficient in service. And the case succeeds on merit. Points under consideration are decided.
Hence,
O R D E R E D
That the C. C. Case No. 118 of 2016 ( HDF 118 of 2016 ) be allowed on contest with costs against the O.P.nos.1 and dismissed against Proforma o.p no.2 without cost.
That the O.P. no 1 is directed to return the surrender value of the policy in question as it stood on 25/01/2016 to the given bank a/c no. being 95412200000887 held by the complainant with Syndicate Bank, Shibpur Branch within 30 days from this order id Rs.50 per day shall be imposed upon them till actual credit of the said value.
That the O.P. no. 1 is directed to pay rupees 3000/- as compensation and Rs.2,000 as litigation costs within 30 days from this order id the entire amount of Rs.5,000/- shall carry and interest @ 8% p.a. till actual payment.
The complainant is at liberty to put the decree into execution after expiry of the appeal period.
Supply the copies of the order to the parties, as per rule.
DICTATED & CORRECTED
BY ME.
( Jhumki Saha)
Member, C.D.R.F., Howrah.
