PRESIDENT, DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, SAMBALPUR

Consumer Complaint No.-48/2023

Present-Dr. Ramakanta Satapathy, President,

  Sri. Sadananda Tripathy, Member

Suresh Kumar Dash

R3/E-10, JM Colony,

Ainthapali, Budharaja

Dist- Sambalpur-768004

M. No- 9853350927                                                      .……….......Complainant.

Vrs.

Exide Life Insurance,

Near Arundhati Jewellers,

Fatak, Samabalpur- 768004                                          ...……….Opp. Party

Counsels:-

1. For the Complainant         :- Self
2. For the O.P. No.1 & 2        :- Ex-parte

Date of Filing:03.04.2023,  Date of Hearing :07.08.2023  Date of Judgement : 29.08.2023

Presented by Sri Sadananda Tripathy, Member.

1. The case of the Complainant is that the Complainant got a call from the workers of the OP that he has won a lotery and told him to meet them to receive a gift. After meeting them, they tried to convince a policy. Thereafter, the Complainant did the insurance. The scheme was that the Complainant has to deposit Rs.  12,300 for each 10 years and from the 11^th yr he will get Rs. 12,300 each for next 10 yrs. The scheme was for 20 years. The Complainant made the insurance for his son. Excluding Rs. 12,300 each year for next 10 years, the Complainant got Rs. 2,27,000/- as maturity. But in the bond paper, there is not at all mentioned about Rs. 12,300/- which the Complainant has to get for next ten years. The Complainant complained about the bond paper intake to the Exide Life Insurance then they send it for the correction. After that when he tried to cancel  the insurance than they said he can cancel after the new bond paper come. The bond paper came in 28^th February 2023. After that, the Complainant went to cancel the policy, than they told this policy cannot be closed and it will continue. So the case is filed for deficiency in service and unfair trade practice of the OP.
2. The OP is not given their Written Version.
3. From the case record, documents and evidences it is found that the OP had not cancelled/corrected the policy as per their assurance the O.P. not even informed why the policy was not corrected nor corrected. It amounts to deficiency in service on the part of the O.P.

Accordingly, it is ordered:

ORDER

The O.P is directed to pay the Complainant, a sum of Rs. 20,000/- towards financial loss, harassment, deficiency in service and mental agony suffered by the Complainant as Compensation and Rs. 5,000/- towards cost & litigation expenses within 30 days from the date of order, failing which the amount will further carry with 9% interest per annum till realization to the complainant.

Order pronounced in the open Court today on 29^th day of Aug, 2023.

Free copies of this order to the parties are supplied.