This is an application u/s.12 of the C.P. Act, 1986.

          Complainants by filing this complaint have submitted that complainant , a housewife with an intention to arrange necessary fund  for her daily life  went to deposit a sum of Rs.1,00,000/- (One lakh) and thereafter HDFC Bank, when HDFC Bank Manager advised her  to invest in the Bank to get  interest monthly against that she get a gold coin as gift  and so she issued a cheque  of Rs.1,00,000/- (one lakh) and thereafter she received a phone call what confirmed that she shall get one coin so she relied upon the O.P.’s version. Subsequently, complainant got  one document and same was placed before her Ld. Lawyer who after inspection found that same was not fixed deposit but an insurance policy and so complainant reported the matter to the O.P. by her letter dated 18/03/2013 for correcting that document from policy to FDR and the said communication was replied by the O.P. on 31/03/2013 with comment that “as we have not received your cancellation request within the 30 days free look period, we wish to inform you that we are unable to process a refund of premiums paid towards this policy.” Fact remains one Soumyakanta Hazra collected one lakh (cheque) only after obtaining signatures in blank papers as she was assumed FD shall be handed over but for and their men’s overact this poor lady is cheated and so complainant sent demand notice to the O.P. but they did not respond and for such negligent and deficient manner of service and for adopting unfair trade practice this complaint is filed for redressal.  

          On the other hand, OP by filing written version submitted, in fact, complainant applied for policy one in the name of complainant and as per the terms the complainant  is required to pay yearly premium @ Rs.1,00,000/- for 10 years and she filled up and signed the application forms and upon her written applications policy being No.15139700 was issued in favour of the complainant on 07/05/2013 by Courier Service, which was duly received by her and it is a contract between the parties and complainants did not made any allegation against that document within 15 days from the date of receipt and did not opt for cancellation within that period. So, as per terms of the policy complainant and OPs are guided and there is no scope to cancel the same and entire allegation is false and it was not a mis-sell on the part of the OP and so, the entire complaint should be dismissed and there is no scope for refunding the said amount.

Decision with Reasons

On hearing the Ld. Lawyers of both the parties and also considering the materials as produced by the OP that is the copies of proposal application forms, it is clear that proposal form were all filled by the agent or bank employees not by the complainants and another factor is that all the policy form was of dated 28/04/2012. But fact remains when the complainant came to know about that fact forthwith on 18/03/2013  prayed for rectification of the same and also prayed for supply of FDR document in lieu of the policy but OP did not pay any heed to that.  Fact remains in the complaint complainant has alleged that one Soumyakanta Hazra received cheque and blank forms with signature. Practical approach in this regard in respect of that person is absent.  Truth is that no part of the policy was filled by the complainant.  But same were made by the employees of the O.P.  Another factor is that from all the copies of the said proposal form it is found that same are only signed and case started whereas it is found that Shyam Chakraborty was the Financial Consultant and Business Development Manager Partha Pratim Mondal of the OP prepared this entire proposal forms.  But it is fact that this is the business policy of the HDFC and they are alluring many persons in such a manner and receiving cheques stating that the one time investment shall be prepared and documents would be supplied and in all cases so far we have handled so many cases, this OP Bank takes signature and entertain the customer by giving snacks, tea etc. with smile face with sweet tune and customers are being allured even the blank cheques are issued along with sample signature what is proved.  The complainant was in need for FDR and as per direction of the OP she deposited Rs.1,00,000/- for one time investment but OPs after taking signature of the complainant in blank forms converted it into policy but FDR was not issued and such a business tactics the private banks and private insurance company have taken in almost all the cases and particularly in West Bengal in rural areas, village people at large are being deceived by their agents who are in such a manner collecting blank cheques witrh signature of the party and in this case fact remains when complainant forthwith prayed for cancelling the same after getting correcting the same from the bank then there is no fault on the part of the complainant and that such a practice of the OP bank not to prepare FDR and to handover desired document is a business tactics of the OP companies to spread several agents at several areas for the purpose of collecting such amount from different persons and that agents are cheating the public at large and that is the truth and in this case no doubt complainant has prayed for correction of the policies and to handover FDR and no doubt Banking Law and the insurance law are social legislation and there is no legal cause on the part of the insurance to cheat customer after taking blank signatured cheque and Forms and to deceive the customer like complainant , when complainant did not express  to open policy and when she has stated that she never did it then it is unethical act on the part of the bank and its agent and no doubt it is unfaithful service on the part of the OP.  In the above situation we are convinced that by the men of the OPs the complainant was cheated.  Fact remains complainant had no capacity to open such a policy but she deposited Rs.1,00,000/- only for investment in the FDR but OP managed to issue policy document dishonestly because they already collected signatures in blank forms relying upon men of the Bank Authorities and truth is that in this regard the matter was handled by General Financial Consultant, Shyam Chakraborty and Business Development Manager,  Partha Pratim Mondal and they manipulated the same and prepared such fake insurance policy.  So, it is proved by the entire forms which were filled by them as per wish of the OPs Development Officer and Official Consultant that it is their business to deceive the customer in such a fashion and to throw them into future trouble and that is the common practice which is being followed by all the private banks and insurance companies but none is here and there to check and to control the practice of the private banks and insurance companies.  Then who shall have to save such customers from the hands of such private banks and private insurance company but we feel that the customer must not be cheated.  Private bank and insurance company must be fair in their trade and they must not have to accept any application from any customer if it is not filled up by the customer henceforth but generally the service of the consultant or Development Manager are always immoral and unethical and when the applications were not found filled up by the complainants then we are convinced that all misdeeds was done by the OPs. Financial Consultant and Development Manager and for their immoral activities complainants suffered.  So, we are convinced to hold that complainants are entitled to get entire amount of Rs.1,00,000/- against the policy  treated as cancelled and it is the observation of the National Commission in so many judgment that when customers express their dissatisfaction about the opening of the document in that case policy shall be cancelled and Insurance Company or Bank shall have to return the entire amount after deducting 10% and adopting that principle we are directing the OP to cancel the policy and return the deposited amount of Rs. 1,00,000/- (one lakh).  In this regard we have relied upon one judgment of National Commission passed by Hon’ble Justice B.N.P. Singh in Revision Petition No.3235 of 2009 against the order dated 12-02-2009 in SC Case No.FA No.230 of 2008 of the State Commission, West Bengal and that order was passed on 07-04-2010 and practically original complaint of this forum in respect of C.C. No.360 of 2006 and that order was passed against Bajaj Allianz.

In the result, the case succeeds.

Hence,

Ordered

That the case be and the same is allowed on contest with a cost of Rs.3,000/- (Rupees Three thousand only) against the OPs.

          OPs are directed to refund entire amount of Rs.1,00,000/- (one lakh) to the complainant at once after treating the said policy document cancelled when it was opened against the knowledge and consent of  the complainant.

          For adopting an unfair path by the Financial Consultant and Development Manager of the OP Bank OPs shall have to pay compensation of Rs.4,000/-(Rupees Four thousand only) to the complainant without any fail.

          OPs are directed to comply the order within 15(fifteen) days from the date of this order failing which penal action shall be started against them and prosecution shall be started against them for violation of the Forum’s order and even further penalty shall be imposed over the same and for non-compliance of the Forum’s order within stipulated period, for each days delay penal damages @Rs.200/- shall be assessed till full satisfaction of the decree.

Dictated & Corrected

           by me