Judgment : Dt.13.12.2017
Shri S. K. Verma, President
This is a complaint made by one Mr. Tapas Kumar Chatterjee, 9/2, Central Park, Jadavpur, P.S.-Jadavpur, Kolkata-700 032 against HDFC Standard Life Insurance Company Limited, Gariahat Branch, 1st floor, Building No.1A & 1B, Gariahat Shopping Mall, 26A, Hindusthan Park, Gariahat More, P.S.-Gariahat, Kolkata-700 029, OP No.1 and The Chairman, Lodha Excelus, 13th floor Appollo Mills Compund, N.M.Joshi Marg, Mahalaxmi, Mumbai-400 011, OP No.2 praying for immediate return of the total amount of the policy Rs.13,00,000/- with interest @ 10% p.a. till the dte of realization and compensation of Rs.1,70,000/- and litigation cost of Rs.15,000/-.
Facts in brief are that Complainant is a senior citizen. OPs are insurance company and running their business throughout India including West Bengal. Complainant is a retired person aged about 85 years. In the month of November, 2013, Complainant was contacted by a person named Suman Roy having employee code 00454916 an agent of HDFC Life who told Complainant about ‘HDFC Life New Immediate Annuity Plan Policy’ which Complainant declined. Again, in the month of January, 2014, Complainant was contacted by Suman Roy agent. Said agent requested the Complainant to take the above mentioned plan policy. Complainant was completely mislead by policy where he was assured that after investing the amount, Complainant can make a nominee. The benefit of such policy will be forwarded to the nominee and 100% return of the purchased price was to be paid by the Company to the nominee. Complainant in good faith signed the blank form seeing that initial pages were marked as ‘HDFC LIFE NEW IMMEDIATE ANNUITY PLAN POLICY’ with 100% return of the purchased price to be paid by the company to the nominee. After receiving the total policy paper, Complainant was surprised to see that policy applied for is LIFE TIME ANNUITY for which there is no death benefit. It is pertinent to mention here that the age of Complainant was 82 and he made a policy amount to Rs.13,00,000/- with the hope that the death benefits will be enjoyed by the nominee. This led to a confusion in the mind of Complainant. Policy only stated that Complainant would be entitled to a certain sum of annuity, every month as long as he lives and his nominee will get no benefit. Complainant never intended this. He was falsely induced to sign on the blank form. After receiving the policy papers, Complainant immediately tried to contact the agent within the free look period but could not race because the phone No. which was given to the Complainant turned out to be invalid. Complainant tried to contact OP No.1 over phone and was told that Suman Roy had resigned from the job and they assured that the problem would be solved and fresh policy document will be issued in Complainant’s name, but no policy document was issued. Complainant contacted Insurance company in June, 2015 and learnt that neither any fresh policy was issued nor any rectification was made by the OP No.1 & OP No.2. In July, 2015, Complainant contacted OP No.2 on periodical basis over telephone. He trusted the false assurance of the Company. OP No.1 and OP No.2 neither altered the policy nor issued a fresh policy. Complainant approached IRDA but nothing was done. So, Complainant filed this case.
OPs filed written version and denied the material allegations of the complaint. Their further case is that in or about January, 2014, Complainant approached the OP Company and expressed his willingness to avail a Life Insurance Policy. The Company showed Brochures of several Insurance Policies and explained him their features. After being satisfied, Complainant applied for HDFC New IMMEDIATE ANNUITY PLAN POLICY’ by filling up the application. After that OPs issued policy bearing no.16580872 in favour of the Complainant. Complainant also signed several documents. It is the rule of IRDA that the policy can be returned within 15 days but Complainant did not make any such request. Further OPs have submitted that the Complainant received the gross amount of instalment per month of Rs.15,685.67 for two years. The last instalment amount was credited on 16.6.2017 through NEFT. The allegations of Complainant are false and frivolous. There is no cause of action for filing this complaint. So, OPs have prayed for dismissal of this complaint.
Decision with reasons
Complainant filed affidavit-in-chief wherein he has reiterated the facts mentioned in the complaint petition. OP filed questionnaire against which Complainant filed affidavit-in-reply. Thereafter, OP filed evidence to which Complainant did not file questionnaire and filed a petition praying for fixing the case for argument.
Main point for determination is whether Complainant is entitled to the reliefs as prayed for.
Complainant has prayed for refund of Rs.13,00,000/- with interest @ 10% p.a.
On perusal of Xerox copy of documents it appears that the policy document was issued sometime in the month of January, 2014. Thereafter, Complainant received monthly benefits of this policy for about two years to the tune of Rs.15,685.67 per month. However, Complainant filed this case on 25.4.2017. That means Complainant remained silent for more than two years. Complainant has not mentioned in his complaint petition as to how much he has received as monthly benefits. This makes it clear that Complainant did not approach this Forum with clean hands.
Complainant’s first prayer for refund of Rs.13,00,000/- with 10% interest also reveals that the Complainant’s attitude in filing this complaint is not clear because he has not mentioned the amount which he has received for about 2 years as monthly benefits. There is no mention of the facts upto which date Complainant received instalment benefit.
As per written version, the last instalment was paid by the OPs on 16.6.2017. This fact is also absent in the complaint petition. So, we are of the view that Complainant is not entitled to the relief of refund of Rs.13,00,000/-. As such, Complainant is also not entitled for compensation to the tune of Rs.1,70,000/- and litigation cost of Rs.15,000/-.
Hence,
ordered
CC/243/2017 and the same is dismissed on contest.
