Chandigarh

StateCommission

A/175/2018

Bharti Axa Life Insurance Company Limited - Complainant(s)

Versus

Gursharan Kaur - Opp.Party(s)

Gaurav Bhardwaj, Adv.

20 Nov 2018

ORDER

The appellant has filed this appeal against order dated 16.04.2018 passed by District Consumer Disputes Redressal  Forum-II, U.T., Chandigarh in complaint case No.143 of 2017 filed by the respondent/complainant. Vide the said order, the appellant/opposite party was directed to refund the premium amount of Rs.1,30,000/- to the respondent/complainant, with interest @12% p.a. whereof 01.08.2010. Further, an amount of Rs.20,000/- was granted towards suffering mental and physical harassment and Rs.10,000/- towards litigation expenses. When notice in this appeal was issued on 19.06.2018, Counsel for the appellant restricted his claim only qua grant of interest @12% p.a., which is stated to be on the higher side. At the time of filing the appeal, the appellant has already deposited an amount of Rs.25,000/-. Further when notice was issued, direction to deposit the entire amount awarded by the Forum with interest as awarded by the Forum i.e. @12% p.a. Thereafter, on 06.07.2018, an amount of Rs.2,58,732/- was deposited by the appellant with this Commission. Total amount of Rs.2,83,732/-, which included compensation amount and litigation costs is available with this Commission in the shape of Fixed Deposit Receipt.

                   When Court showed its inclination to decrease the rate of interest, Sh. Devinder Kumar, Advocate, Counsel for the respondent/ complainant very fairly stated that the rate of interest be granted at 9% p.a. plus compensation and litigation charges.

                   In view of above statement, Sh.  Gaurav Bhardwaj, Advocate, Counsel for the appellant/opposite party states that let the amount be so calculated uptil date and be released in favour of the respondent/complainant. The amount, so calculated by both the Counsel for the parties, comes to Rs.2,57,126/-. We order accordingly.

                   In view of above, an amount of Rs.2,57,126/- be released in favour of the respondent/complainant, namely, ‘Gursharan Kaur’.

                   The balance amount of Rs.26,606/- i.e. (Rs.2,83,732.00 minus Rs.2,57,126.00), alongwith interest, which has accrued on the whole amount of Rs.2,83,732.00 in the Fixed Deposit Receipt, be released in favour of the appellant/opposite party, namely, ‘Bharti AXA Life Insurance Company Limited’.

                   Needful be done within seven working days from today.

                   The appeal stands disposed of accordingly.

                   Certified copies of the order be sent to the parties free of charge.