This is an application u/s.12 of the C.P. Act, 1986.
Complainant by filing this complaint has submitted that she is an old ailing widow of 59 years old and in the month of May, 2012 in the name of Arpan Ghosh and Mr. Soumen Mukherjee came to their place and identified them as the employees of HDFC Bank and requested the complainant to purchase three numbers of policies with very attractive returns and they also submitted that policies shall be nothing but a fixed deposit and for one time premium with life insurance and being convinced complainant agreed to purchase policies no.15152821, 15256172 and 15253292 for a premium of Rs.20,000/-, Rs.50,000/- and Rs.1,00,000/- respectively and issuing dates are 22-05-2012 and 26-06-2012 and accordingly complainant paid sum/premium in good faith that only one time premium shall be paid for only one year. But after going through the policy bond received on 9th October, 2012 complainant came to learn that the said policies were regular policy for tenure of 10 years and OP sold it by adopting unfair trade practice and misleading her. Therefore, immediately after receiving the said policies on 18th October, 2013 she went to OP’s Shyambazar Branch for cancellation of the said policies but OP denied to issue cancellation form showing that the free look period already been over. So, finding no other alternative by a letter dated 06-11-2012 requested the OP to cancel the policies but on 14-13-2012 by letter OP informed that they are unable to cancel the policies and refused to refund the amount since the free look period was already over from the date of issuance of policy. Complainant again wrote on 20-12-2012 to the OP for cancellation of the policy stating her inability to continue the policy but the OP paid no heed. Practically, complainant is a widow aged about 59 years and has her only income on family pension and she is unable to pay Rs.1,70,000/- per year and she has no other service etc. Practically, complainant had no intention to purchase life insurance policy at the fag end of life but purchased a fixed deposit on good faith for the term of one year as an one time premium but OP sold the policy by adopting unfair trade practice and misleading the complainant and in fact entire process has been made by the employees of the HDFC by adopting unfair means for which this amount should be returned to the complainant treating the process of preparing the policy illegally and practically complainant has no consent. In the above circumstances, for adopting unfair trade practice and for rendering deficient manner of service complainant filed this complaint for redressal.
On the other hand, OP by filing written statement submitted that the allegation has been made against the employees of the HDFC Bank but for their employees they are not made a party as such the instant case is bad for non-joinder of parties and at the same time complaint is barred by limitation. It is specifically mentioned that invariably complainant after understanding and being satisfied with the HDFC SL Saving Assurance Plan submitted it to the bank and bank sent it along with cheque and accordingly the policies were issued and in the said policies terms and conditions of the policy is also there. Application forms were duly filled up by the complainant and after proper scrutiny and considering the application policies were issued and same were served upon the complainant on 01-08-2012. But practically complainant did not file any application within freelook period and for which OP has nothing to do and there was no negligence or deficient manner of service on the part of the OP and OP also reported to the complainant that OP has no option to cancel the same as freelook period is over and they are unable to process the request for cancellation and for refund of the policy and fact remains complainant paid only the initial premium and neglected to pay further premium fall due in May and June, 2013, 2014. So, the policy got lapsed and the policy cannot clear immediate surrender value as per the terms and condition of the policy and for which the entire allegation is false and fabricated and regarding the act of the employees of the HDFC Bank they have nothing to say because they are not made parties for which the same shall be dismissed with costs.
Decision with Reasons
On proper consideration of the argument as advanced by the Ld. Lawyers of both the parties and also complaint and written version including the documents, the proposal form it is clear that in the proposal form it is noted that she is business man and it is further found that entire proposal form is filled up by the bank employees of the HDFC Bank and they only collected the signature of the complainant and that is the common practice of the ICICI, HDFC, Axis and other private banks and it is also proved Financial Consultant, J. Sarkar signed but practically this application form or proposal form was not submitted by the complainant before the OP insurance company but signature was procured by the HDFC Bank who is no doubt the franchiser of the HDFC Insurance and in such a manner this business is being run by the HDFC Bank and HDFC Insurance Companies. It is known to all that the private bank like HDFC Bank, ICICI Bank, Axis Bank without giving any chance to the customer to realise anything with the help of their sweet tongue manage to procure such cheques convincing that good interest shall be given by their insurance company or by the bank if one-time payment is made and it is the common practice in all the cases and at that time they collect so many papers from customers taking chance of simplicity of old aged lady and also males and females and they are running their business and this case is a not only example but huge cases are here and there which are handled by the Forum in so many cases and these HDFC Bank and Insurance Companies have no other intention to give relief to the customer but it is their only business to collect huge amount to create capital of the said companies and to capture the market in such a fashion and in this case it is proved that any part of the application form is not filled up by the complainant but filled by the person of HDFC Bank who are directly or indirectly involved with the bank and insurance company. In fact, selling of the HDFC Policies now-a-days is taken by the HDFC banks who also sell insurance policies of the different insurance companies and no doubt taking such chance for selling the insurance policy by the HDFC Bank they are loitering here and there to collect cheques from the customers by giving such assurance that it shall give a good benefit if one time premium is made but it is the practice of the HDFC employees not to fixed for one year or three year term but to convert it as insurance policy because at the time of collecting cheque from such sort of helpless ladies they procured signature in different application forms and practically it is impossible for the customer what is the actual purpose and in the present case it is clear that the entire form is not written or filled up by the aged lady of about 59 years whose annual income comes from family pension on the death of her husband. Further it is proved that he has no such income but falsely it is noted she has a business and been running it and no such document is produced to show that she has any capacity to pay Rs.1,70,000/- per year as premium. No reasonable or prudent person shall believe that the complainant in his such sort of financial distress shall have to purchase three policies with a liability to pay Rs.1,70,000/- as premium per year and truth is that any part of the application of the policy was never filled up by the complainant only signature was collected. Detailed status of the complainant was falsely written by the employees of the HDFC Bank no doubt because they are the authority to sell the policy of the HDFC Life as per their internal agreement and corporate office of both the HDFC Life Insurance and Bank are same and their authorities are same and taking such chance they are deceiving customers in so many manners and practically no such study has been made by the Consumer Forum in this regard that in what manner HDFC Bank are deceiving the customers in so many manner. Very recently the Nobel Loureate Jean Tirello of France by his research work came to a conclusion that stringent steps should be taken against bank and insurance companies, so that they may not anyway misguide the customer for collecting such capital, deceiving the customers in any manner. Truth is that all over the world the private banks and insurance companies are collecting money by deceiving the customers and ultimately the customers are being deceived and fact remains all the private banks and insurance companies are not honest in their business which is proved and it is also found by the IRDA also. Peculiar factor is that the present document were not sent by registered post with A/D to the complainant but long before filling up the application by the employees of the HDFC Bank many signatures in blank papers were collected by the HDFC employees which were converted as the receipts by which OP wants to prove handing over of the policies to that complaint but truth is that policy documents were not handed over the complainant by the present banking authority but that data was handed over subsequently by the OPs which is evident. Another factor is that the said receipt does not bear any seal mark or any sort of logo of HDFC Company what indicates that all those papers were in the hand of the employees of the HDFC Bank who managed to collect signature of the complainant in the said paper and that was supplied by the HDFC Bank to the OP because there was nexus between HDFC Bank and Life Insurance in expanding such sort of business in the field of insurance and the bank and after thorough study of the all documents and papers we are confirmed that the complainants were deceived by the HDFC Life Insurance and fact remains HDFC Bank employees deceived the complainant and collected check without giving her any chance to realise that it shall be converted as a policy for a long period. So, we are convinced that the application form and policy is completely a procured document and it was procured by the employees of the HDFC Bank and no part of the of the said application form for policy was written by the complainant and at the same time status of the complainant as noted as businessman is also false and it is noted by the HDFC Employees only for the purpose to deceive the complainant in future. So, application form is produced by the OP with signature of the complainant is not a contract in view of the fact that complainant did not write any portion of the form except her signature. OP has also failed to prove by any cogent evidence that entire form was filled up by the complainant but in the argument we have come to learn that this OP has tried to convince that they are not aware of the fact who filed the application form but as because it was sent they received it through HDFC Bank then it is clear HDFC Bank is the preparator of the document and they only collected the signature of the complainant so it is clear that if complainant would be aware of the fact that such a policy is being opened by the complainant by the HDFC Bank in that case complainant must not have to sign in the form because it is proved that complainant has no other source of income and she has been drawing family pension of her husband and that is the meager amount amounting to Rs.1,70,000/- per year and not even an idiot can believe that she intended to purchase three policies for long 10 years term with a burden to pay Rs.1,70,000/- yearly 2,40,000/- so, it is clear that only to deceive the complainant in such a manner HDFC Bank employees collected all signatures as corporate agent of OP as per their sweet will and wrote complainant has business and he has earning per year Rs.2,00,000/- but even if, yearly income as noted by the employees of HDFC Bank is considered in that case even an idiot shall believe that complainant had no intention to purchase such a policy for a term of 10 years with a burden of payment of Rs.1,70,000/- per year. It indicates that the HDFC Bank employees deceived the complainant by giving her no chance to realise for what purpose these forms were signed by her and what will be the fate of the complainant. Such sort of cheating business are being run by the HDFC Bank, Life Insurance Companies, ICICI Bank and their Insurance Company and Axis Bank and their Life Insurance, Standard Chartered Bank and their Life Insurance Company and it has become a common phenomenon in the field of insurance business and banking business run by the private companies. Fact remains the corporate sector (private bank and insurance) have their no social responsibility but they are only engaged in the field for the purpose of collecting money to create their capital but all over world based economist including Arthur Simon or present Nobel Loureate Jean Tirello have confirmed that Bank and Insurance Company must be properly controlled by any authority of the country so that they cannot deceive a single customer for running their business and the satisfaction of the customer must be the prime consideration if after purchasing any policy or etc. customer is found deceived in that case the entire amount must be returned, may be interest may not be given but entire amount must be returned. Truth is that OPs have tried to convince that cancellation cannot be made. Freelook period expired but in the present case freelook period is not the criteria because all the application forms were procured by the employees by the HDFC Bank who are selling the policy. Then invariably it is not a term in between the complainant and the OP but money has been received by the OP. So, invariably these policies are not binding upon the complainant when application forms were procured by the employees of the HDFC Bank who are authorized to sell the policy of the HDFC, the life in which as per principle of Equity of Law complainant is entitled to get back the entire amount when by a deceitful means in those application and some other papers, signature of the complainant was procured by the banking institute of HDFC who are authorized to sell it and such an act is no doubt an unfair trade practice. In this regard the present trades and business run by the private insurance company and bank all over the world is under proper scan. We have gathered that not a single private company either private insurance company or bank have their no policy to protect the interest of poorer section of people. For the sake of the argument, if it is accepted it was purchased by the complaint with knowledge then OP was satisfied about her capacity to pay it for 10 years and she had any income. Is there any document to show by the OP that there was sufficient monthly income or income tax return wherefrom they collected that the complainant has such a sound income of Rs.1,70,000/- to deposit as premium but on the contrary their own applications early income is noted as Rs.2 lakhs then how after deposit of Rs.1,70,000/- as premium she shall have to maintain her and also failed to prove running any business by complainant and at the same materials on record reveals that she is passing her days with the help of family pension but there is no other income so, entire act on the part of the OP through their banking friend HDFC Bank managed to procure this blank application with signature of the complainant but practically complainant has no knowledge and complainant was never informed about the terms and conditions and her future liability about payment of further premium and in the light of the above observations we are convinced to hold that in the eye of law if the application form of any insurance policy is not filled up by any insure only signature is collected by the agent or the insurer or their banking authority in that case such a policy cannot be treated a policy of contract in between the parties and that is the finding of the Hon’ble higher courts so in all respect the unmerchantable conduct of the OP and the bank partner is well proved so, the allegation as made against the OP is proved beyond any manner of doubt and truth is that this HDFC bank authority and their insurance have been deceiving the customers in so many manner throughout West Bengal and India, practically they have their no courage to run the business by not deceiving the customer and they have practically adopted unfair trade practice by adopting such sort of procedure to collect money from the poor customers giving them no chance to realize the fate of the customer in future in the hands of HDFC Banks or their insurance company. In the result, we are convinced that OP is bound to refund the entire amount treating the said application as not a valid contract in between the parties and invariably shall have to given such compensation for harassing and depriving such a wretched lady in such a fashion and also shall have to pay costs to such an ill-fated lady for coming before this Forum for redress.
In the result, the case succeeds.
Hence,
Ordered
That the case be and the same is allowed on contest with a cost of Rs.10,000/- against the OP and OP is directed to refund entire amount of Rs.1,70,000/- to the complainant without any further delay within 15 days from the date of this order and also shall have to pay a compensation of Rs.20,000/- to the complainant for harassing the complainant in such a manner by adopting an unfair trade practice and deceiving the complainant in such a fashion and the entire decretal amount will be paid within 15 days before this Forum failing which for non-compliance of the Forum’s order penal interest @Rs.300/- shall be paid till full satisfaction of the decree and even after that if it is found that the OP is reluctant to comply the order in that case penal action shall be started against them u/s.27 of the C.P. Act and for which they shall be further penalized and fine may be imposed.
