Present : Sh.Gujjar Singh, applicant with counsel Sh.Rajesh Bhatia,Adv.

Sh.M.S.Bhatia,Adv.counsel for the respondent

Sh.Yogender Singh Sisodia, Manager ( Legal ) of the respondent got recorded his statement that in order to make compliance of the order of the Hon'ble State Commission dated 3.3.2014 to revive the policy of the applicant, the LIC is ready to revive the policy if the policy holder pays the 8 installments of Rs.7514/- each which comes to Rs. 60112/- and since the policy is of 15 years duration and it has already matured on 28.10.2013, it will be notionally revived. The total payable amount is sum assured Rs.1,00,000/- plus bonus of Rs.70900/-, thus, total comes to Rs.170900/-. Since the LIC has already paid amount of Rs.58838/- which included the costs awarded by the Hon'ble State Commission, so an amount of Rs.38838/- stood paid to the applicant. Now a sum of Rs.132062/- is payable to the applicant which the LIC shall pay after receipt of an amount of Rs.60112/-. Since the amount of 5 installments already paid by the applicant through demand draft has not credited to the account of the LIC, the applicant shall have no right to receive the amount of the aforesaid drafts from the bank which are in the possession of the LIC. In view of the above statement, Sh.Gujjar Singh Sandhu, complainant got recorded his statement that as per the demand of the respondent LIC today, he has handed over a cheque bearing No.350112 dated 18.3.2016 for Rs.60112/- to Sh.Yogender Singh Sisodia, Manager Legal of respondent LIC and entitled to receive the payment of Rs.132062/- from the respondent LIC. He shall not claim the amount of drafts which are in the possession of the LIC. As such, he withdrew the present execution application. Resultantly, present execution application is dismissed as withdrawn. However, counsel for the respondent has stated at bar that the respondent LIC shall complete entire exercise within 15 days from today and the respondent is directed to make payment to the applicant within a period of one month from the date of receipt of copy of orders. File is ordered to be consigned to the record room.