Chandigarh

DF-II

CC/19/2021

Parmod Kumar - Complainant(s)

Versus

Manager PNB Housing Finance Limited - Opp.Party(s)

In Person

08 May 2023

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION-II,

U.T. CHANDIGARH

 

Consumer Complaint  No	:	19 of 2021
Date  of  Institution	:	06.01.2021
Date   of   Decision	:	08.05.2023

 

 

 

 

 

Parmod Kumar, R/o GF-104, Ashiana Homes, Opposite Rail Vihar, VIP Road, Zirakpur, Distt. Mohali, Punjab.

            …..Complainant

 

Versus

Manager, PNB Housing Finance Limited, Branch Address: SCO 323-324, First Floor,  Sector 35-B, Chandigarh 160008

   ….. Opposite Party

 

 

BEFORE:  MR.AMRINDER SINGH SIDHU,       PRESIDENT

                MR.B.M.SHARMA                 MEMBER

 

Argued by:-     Complainant in person.

Sh.Sumit Puri, Counsel of OP

 

 

PER  B. M. SHARMA, MEMBER

        The case of the complainant briefly is that he obtained a Home Loan of Rs.12 lacs from the OP Company on 17.10.2020 vide Loan No.HOU/CHD/0920/813278. It is stated that after disbursal of said loan, the complainant came to know that the OP Company, without his knowledge & information, obtained insurance policy and deducted insurance premium of Rs.60,000/- from his account.  It is stated that in the market the insurance is available on much lesser amount, but the OP has done it on high premium.  Moreover, the OP Company did the insurance from another company despite the fact that their sister concerned company is also providing the same kind of service. It is also stated that the OP Company also did not provide him with any insurance policy documents nor details thereof.  Hence, the present complaint has been preferred alleging the said act & conduct of the OP as gross deficiency in service and unfair trade practice.

 

2]      The Opposite Party has filed written version stating that as per request of the complainant, the loan was sanctioned to the tune of Rs.12,60,000/-; Rs.12 lacs towards seller for purchase of residential unit and Rs.60,000/- towards insurance premium to Bharti Axa Life Insurance Company Ltd, repayable in equated monthly installments of Rs.12,224/- for 180 months.   It is stated that the Sanction Letter dated 4.9.2020 with details and bifurcation of above said amount was duly acknowledged by the loan applicants (Ann.R-2). It is submitted that the insurance was availed by the complainant from Bharti Axa Life Insurance Company Ltd. at his own accord and the OP only funded the premium amount at the request and with consent of the complainant, which was added in the loan amount disbursed to the complainant.  It is also submitted that to secure the loan amount from any unforeseen & unfortunate events, the complainant requested the OP to fund the insurance premium amount as well, which the OP did, as per disbursal request form signed and submitted by the complainant. It is stated that the complainant was also facilitated with reference of certain insurance companies available to provide insurance cover towards the said loan.  It is pleaded that the insurance company was selected by the complainant at his own and the OP has no role to play in between the complainant and the insurance company. Denying all other allegations and pleading no deficiency in service, the OP has prayed for dismissal of the complaint.

 

3]      Parties led evidence in support of their contentions.

 

4]      We have heard the complainant in person, ld.Counsel for the OP and have gone through the documents on record.

 

5]      The grievance of the complainant is that the home loan availed by him from OP was got insured by the OP at their own, without his knowledge & consent, and the premium amount towards the said insurance policy was also added in his loan, which amounts to deficiency in service.

 

6]      The record reveals that Ann.R-2 (Sanction Letter) vide which the loan amount & insurance premium amount in question has been sanctioned to the complainant and  Ann.R-3 (Disbursement Request Form Pg.45) vide which the said loan & insurance premium amount of insurance has been disbursed to the complainant as well as Bharti Axa Life Insurance Company respectively, bears the signatures of the complainant and his wife Anita Rani proving that they are fully in the know of insurance premium and insurance company. Thus no deficiency in service, as alleged, is made out against the OP. More so, the complainant admitted to have closed the loan account on 7.4.2022.  

 

7]      From the above discussion & findings, we are of the opinion that no case of alleged deficiency in service is made out against the OP. Therefore, the present complaint stands dismissed being without merit. No order as to costs.

         Certified copy of this order be sent to the parties, free of charge. After compliance, file be consigned to record room.

Announced

08^th May, 2023              

                                                         

Sd/-

 (AMRINDER SINGH SIDHU)

PRESIDENT

 

Sd/-

(B.M.SHARMA)