Haryana

Karnal

CC/690/2021

Manisha Kamboj - Complainant(s)

Versus

Life Insurance Corporation Of India - Opp.Party(s)

Sanjiv Kamboj

23 Oct 2024

ORDER

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, KARNAL.

 

                                                        Complaint No.690 of 2021

                                                        Date of instt 10.12.2021

                                                        Date of Decision: 23.10.2024

 

Manisha Kamboj, wife of Shri Rakesh Kamboj, resident of house no.82-R, Model Town, Karnal. Aadhar card no.2807 7437 7865.

 

                                                                        …….Complainant.

                                              Versus

 

Life Insurance Corporation of India, having its Branch office at Sector-12, Karnal through its Manager.

 

…..Opposite Party.

 

Complaint under Section 35 of Consumer Protection Act, 2019.

 

Before   Shri Jaswant Singh……President.     

              Ms. Neeru Agarwal…….Member

      Ms. Sarvjeet Kaur…..Member

 

Argued by:  Shri Sanjiv Kamboj, counsel for the complainant.

                    Shri Deepak Singh Dhull, counsel for the OP.

                   

                     (Jaswant Singh, President)

ORDER:   

                

                The complainant has filed the present complaint under Section 35 of the Consumer Protection Act, 2019 against the opposite party (hereinafter referred to as ‘OP’) on the averments that the complainant is having LIC policy of Rs.5,00,000/-, vide policy no.172728897 dated 28.12.2001 and the insurance premium of said policy is Rs.18396/- which is being paid by the complainant to the OP through its authorized agent. In the year 2008, the complainant took loan of Rs.1,68,000/- against the abovesaid LIC policy and at the time of granting loan, the OP stated that the interest will be charged in the insurance premium of the said policy and lastly the principle amount will be deducted from the gross payable amount of the said policy. The aforesaid policy will matured in December, 2021 and on 12.11.2021 the complainant visited the office of the OP for settling his account and then it transpired to her that an amount of Rs.269584/- as interest on the principle amount of Rs.1,68,000/- has been credited in her account which is illegal null and void because the LIC should have collect the interest monthly or with the insurance policy but nothing was done by the OP and no intimation or letter was ever issued to her for the payment of interest amount hence the complainant is not liable to such huge amount in lumpsum. During the 13 years period of the loan the OP never claimed interest from the complainant. On coming to know the said fact, the complainant contacted the OP and asked for withdrawing the said amount from her account as she is not liable to pay the same but OP started postponing the matter on one pretext or the other and lastly refused to accede the request of complainant. Due to this act and conduct of OP, complainant has suffered mental pain and agony as well as financial loss. In this way there is deficiency in service and unfair trade practice on the part of the OP. Hence, complainant filed the present complaint seeking direction to the OP not to charge the interest amount of Rs.269584/- from the complainant, to release all the insurance benefits of the abovesaid policy after deducting the principle loan amount of Rs.1,68,000/- to the complainant with interest and other benefits, to pay Rs.2.00 lakhs for causing mental, pain, agony and harassment and to pay Rs.22000/- towards the litigation expenses.

2.             On notice, OP appeared and filed its written version raising preliminary objections with regard to maintainability; jurisdiction; cause of action; locus standi and concealment of true and material facts. On merits, it is pleaded that policy no.172728897 was taken by Smt. Manisha Kamboj with date of commencement of 28.12.2001 for assured of Rs.5,00,000/- under plan/Term/premium paying term 112-20-12 from Branch office Karnal-1. The premium under the policy was Rs.18396/- with half yearly mode of premium payment which was to be paid in months of December and June every year till 28.06.2013. On 03.07.2008, the complainant applied for policy loan and an amount of Rs.1,68,000/- was granted to her towards policy loan under this policy. The interest under the policy was to be paid on half yearly  basis coinciding with date of commencement of policy i.e.28/06 and 28/12 till repayment of the outstanding loan. The policyholder deposited the following loan interest:-

1. Broken period interest from 03.07.2008 to 28.12.2008 paid on 13.01.2009 amounting to Rs.7350/-.
2. Regular Loan interest from 29.12.2008 to 28.12.2010 paid on 14.06.2011 amounting to Rs.33685/-.

                After that she had not deposited the loan interest and the policy matured on 28.12.2021 and an amount of Rs.1,68,000/-+loan interest Rs.274454/- was deducted from maturity claim amount  of Rs.15,25,000/- as per policy conditions 8 (ii) and (iv) and an amount of Rs.10,82,546/- has been paid on 27.01.2022 through NEFT in favour of complainant.  It is further pleaded that the policyholder had deposited the broken period loan interest Rs.7350/- due from 03.07.2008 to 28.12.2008 on 13.01.2009 and also loan interest Rs.33,685/- due from 29.12.2008 to 28.12.2010 on 14.06.2011. Thus, it is well within the knowledge of policyholder that loan interest is to be deposited on half yearly basis, but still she stopped paying loan interest and the maturity claim has been settled after deducting the outstanding loan and loan interest due from 29.12.2010 to 28.12.2021. There is no deficiency in service and unfair trade practice on the part of the OP. The other allegations made in the complaint have been denied and prayed for dismissal of the complaint

3.             Parties then led their respective evidence.

4.             Learned counsel for the complainant has tendered into evidence affidavit of complainant Ex.CW1/A, copy of statement of LIC Ex.C1 and closed the evidence on 07.02.2023 by suffering separate statement.

5.             On the other hand, learned counsel for the OP has tendered into evidence affidavit of Anju Arora, Manager Ex.OPW1/A, copy of history of loan transactions Ex.OP1, copy of status report Ex.OP2, copy of computer screenshot for calculation sheet Ex.OP3, copy of calculation sheet Ex.OP4, copy of claim payment voucher Ex.OP5, copy of history of premium transactions Ex.OP6, copy of policy bond acknowledgement receipt Ex.OP7, copy of policy bond Ex.OP8, copy of proposal form Ex.OP9 and closed the evidence on 19.03.2024 by suffering separate statement.

6.             We have heard the complainant and learned counsel for the OPs and perused the case file carefully and also gone through the evidence led by the parties.

7.             Learned counsel for the complainant, while reiterating the contents of complaint, has vehemently argued that in the year 2001, complainant purchased a LIC policy from OP for the sum insured of Rs.5,00,000/-. In the year 2008, the complainant availed a loan of Rs.1,68,000/- against the said policy and at that time, the OP assured that the interest will be deducted in the insurance premium. OP should have adjusted the interest amount in premium amount but OP has deducted an amount of Rs.2,74,454/- as interest from the maturity amount illegally without any intimation and lastly prayed for allowing the complaint.

8.             Per contra, learned counsel for the OP, while reiterating the contents of written version, has vehemently argued that on 28.12.2001, complainant purchased an insurance policy from the OP, for sum inured of Rs.5,00,000/- and also on 03.07.2008, availed loan of Rs.1,68,000/- against the said policy. The interest under the policy was to be paid on half yearly basis but complainant has paid only Rs.7350/- on 13.01.2009 and Rs.33685/- on 14.06.2011 and thereafter no interest amount was paid. At the time of maturity of the policy, OP has rightly deducted the amount of Rs.274454/- as interest and Rs.1,68,000/- as loan amount and nothing is due qua the OP and lastly prayed for dismissal of the complaint.

9.             We have duly considered the rival contentions of the parties.

10.           Admittedly, on 28.12.2001, complainant purchased an insurance policy from the OP and the sum insured under the policy is Rs.5,00,000/-. It is also admitted that complainant has taken a loan of Rs.1,68,000/- against the said policy. It is also admitted that the policy matured on 28.12.2021 and an amount of Rs.1,68,000/-+loan interest Rs.274454/- was deducted from maturity claim amount of Rs.15,25,000/- and remaining amount of Rs.10,82,546/- has been paid to the complainant.

11.           It is not a case of the OP that amount of Rs.7350/- and Rs.33685/- paid on account of interest have been adjusted at the time of deducting the interest amount of Rs.274454/-. When the complainant had not deposited the interest amount, OP should have issued the notice.  OP has deducted the huge amount on account of loan interest without issuing notice to the complainant. Hence, it would be justified, if the case of the complainant will be reconsidered.

 12.          Thus, in view of the above and in the interest of justice, we dispose of the present complaint with the direction to the OP to reconsider the case of the complainant and decided the same within 30 days from the receipt of copy of this order and refunded the extra amount charged on account of loan interest. The parties concerned be communicated of the order accordingly and the file be consigned to the record room after due compliance.

Dated:23.10.2024

         President,

      District Consumer Disputes                           

      Redressal Commission, Karnal.

 

                   ( Neeru Agarwal)            (Sarvjeet Kaur)

                      Member                        Member