Order No. 2 dt. 20/06/2016

Ld. lawyer for complainant appears and submits his case. Upon considering his submissions and on careful scrutiny of the entire materials on record, it appears that o.p. no.1 refunded the premium amount under policy nos.16931508 and 16938422 respectively upon prayer of complainant to close the policies in question. Even after receiving the principal amount deposited by complainant towards the premium of the policies complainant prayed for interest thereto for late refund by o.p. no.1 in respect of the premium amount in question.

It is settled principle of law that o.p. can refund the principal amount of the premium only upon prayer of complainant towards closure of the policy and o.p. is not entitled to disburse any interest other than the principal premium amount which has been deposited by complainant to o.p.

In view of above, this forum holds that o.ps. had not made any deficiency of service towards the consumer / complainant. Hence the instant case is rejected.