Complainant further stated the complainant during the course of the time ran from post to pillars in as much as made several written representations and requests to return back the said premium and the OP though assured to refund the same as available to potential users and a bonafide consumer.
Dictated and corrected Contd. …. 2/-
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Complainant also stated that despite of the assurance made by the OPs the OPs did not even bother to entertain the complainant whereby the complainant lodged written complaint with the Asst. Director, C.A. & F.B.P., Barrackpore dated 13.03.2014 and the said authority called upon the OP on 24.04.2014 vide memo no-344/1(1)/DCA&FBP/BKP/14 but the OP did not turn up for the reasons best known to them and under compulsion the complainant files this instant proceeding. Hence the complaint.
OP has contested the case by filing written version.
OP stated that the complainant has no locus-standi to file the complaint.
OP also stated that on 10.09.2012, the complainant herein applied for personal loan Xpress credit for Rs 3, 00, 000/- before State Bank of India Air Force Station Barrackpore Branch. After receiving the said application the OP Bank started proceedings and sanctioned Term Loan/Xpress Credit of Rs 3, 00, 000/-.
As per Banking procedure arrangement letter, Xpress Credit Agreement duly signed by the complainant. After sanctioning of the loan account the complainant authorized the Bank to deduct sum of Rs 7, 500/- per month.
OP further stated that to secure in respect of repayment of the said loan amount the complainant took Flexi Smart Insurance policy No-56023581802 from SBI Life Insurance Company, and assigned the said policy in favour of the State Bank of India Air Force Station Barrackpore Branch. Though assignment copy letter dated 10.10.2012, SBI Life Insurance Company advised State Bank of India Air Force Station Barrackpore Branch to register the assignment and also returned the original policy documents.
The OP Bank is filing the following documents as annexure:-
- Photocopy of loan application.
- Photocopy of arrangement letter.
- Photocopy of Xpress Credit Agreement.
- Photocopy of Standing Instruction.
- Photocopy of Assignment Copy Letter dated 10.10.2012 with annexure.
OP also stated that after receiving the said application the OP Bank started proceedings and sanctioned Term Loan/Xpress Credit of Rs 3, 00, 000/-.
Dictated and corrected Contd. …. 3/-
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OP further stated that in respect of the statements made in Paragraph No-5, 6, 7 and 8 the complainant stated that submitted that in respect of Banking Business, Bank is responsible if there is any fault in service, but in respect of the Life Insurance policy dispute, the SBI Life Insurance Company will be answerable. The complainant duly signed the proposal form of SBI Life Insurance Company and premium to SBI Life Insurance Company but filed case against Bank for refund of premium of SBI Life Insurance policy which not maintainable as per C.P. Act. In respect of SBI Life Insurance policy SBI Life Insurance Company is service provider not State Bank of India. This is worthwhile to mention that in the complaint no allegation was made by the complainant in respect of banking service.
Point for Decision:-
Whether the complainant is entitled to get any relief as prayed for?
Decision with Reasons
Admittedly on 10.09.2012 complainant applied for personal loan/Xpress Credit for Rs 3, 00, 000/- before the OP. Admittedly OP sanctioned the loan amount and authorized the Bank to deduct a sum of Rs 7, 500/- per month. Admittedly complainant took policy being no-56023581802, from SBI, Life Flexi Smart Insurance, and assigned a said policy in favour of the SBI Barrackpore, Station Branch. Complainant submitted the document which was sought for by the OP. Ld. Lawyer for the OP argued that SBI is a Bank under SBI Act, 1955, and SBI Life Insurance Company under Companies Act, 1956. The two concerns are different legal identity. In respect banking business, Bank is responsible if there is any fault in service, but in respect of LIC Policy dispute, the SBI LIC will be unanswerable. Ld. Lawyer for the OP argued that the complainant duly signed the proposal form of SBI Life Insurance Company and paid premium to SBI LIC but filed case against bank for refund of premium of SBI LIC Policy which is not maintainable under C.P. Act. The prayer made in the complaint against the OP is bad in law. None appear the complainant to argue the case. Complainant has prayed for directing the OP to refund of Rs 50, 000/- with 18% interest and Rs 50, 000/- by way of compensation.
In view of discussion herein before we are of the view that the complainant is not entitled to get any relief from the OP.
Hence
It is ordered,
that the complaint and same be dismissed on contest.
Dictated and corrected Contd. …. 4/-
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Parties to bear own cost.
Let copies of the order be supplied to the parties free of cost when applied for.
Member President
Dictated & Corrected by me.
