Sh. Rajesh Kumar          Versus         HDFC Standard Life Insurance & Anr.

Case No. 213/2020

08.04.2021

Present:       None

It is Complainant’s case that he obtained a loan from HDFC Standard Life Insurance Company (OP No.1) which forcibly sold an insurance policy to the Complainant. Though he repaid the loan within 3 months and the policy was automatically surrendered but he was not returned money on pro-rata basis but was given less than 30%. 

Complainant in support his case has neither annexed any insurance policy nor the loan agreement. Further the date of taking the loan facility and insurance policy is nowhere mentioned in the pleadings. However, study of the order passed by Office of the Insurance Ombudsman annexed with the complaint reveals that the life insurance policy was taken by the complainant on 01.03.2016.  The Complainant has pleaded that the loan was paid within three months and on repayment of the loan, the insurance policy stood automatically surrendered.

Therefore from the facts stated above, the inference drawn is that the cause of action in the instant case arose in 2016 itself and as per Section 69 of the Consumer Protection Act, 2019 the present complaint is not maintainable before this Commission as the same is filed beyond period of two years. Hence, the complaint is dismissed in limine being barred by limitation.

Copy of this order be given dasti. File be consigned to record room.   

Announced on 08.04.2021.