Shri. A  Rajesh,                                                    President.

C.C. No. 489/2012

     Between

Jogi Jacob,                                                :        Complainant

Madeyckal house,                            (Adv. Tom Joseph,

Muvattupuzha-686 661.                    Court road, Muvattupuzha)

And

M/s. ING Vysya  Life Insurance    :         Opposite party

Company, Branch Office,                        (Absent)

Opposite to Chennai Silks,

M.G. Road, Kochi-35.

                                          O R D E R

A  Rajesh, President.

          The undisputed facts of the complainant’s case are as follows:

          The complainant is working in Saudi Arabia.  The agent of the opposite party  Mr. Thomas Percy approached the complainant with a request to take a life Insurance Policy.  Believing the assurances and promises of the agent of the opposite party the complainant agreed to take a policy with annual single premium of Rs. 50,000/- for 5 years.  Accordingly a cheque for Rs. 50,000/- was issued in favour of the opposite party and the amount was transferred to the opposite party on 28-09-2011.   On verification of the policy documents the complainant came  to know that only Rs. 25,000/- was shown as the amount received towards premium as against Rs. 50,000/-.  Immediately the complainant  approached  the opposite party, the opposite party informed that they are issued another  policy in favour of the  complainant with annual premium of Rs.50,000/-.  The complainant never received any such policy.  The opposite party misappropriated Rs. 25,000/- paid by the complainant.  The above act of the opposite party amounts to deficiency in service and unfair trade practice.  The complainant is entitled to get refund of Rs. 25,000/- with interest together with a compensation of Rs. 5,000/- and costs of the proceedings.  This complaint hence.

          2. The opposite party duly received notice from this Forum and opted not to contest the matter for reasons of their own.  No  oral evidence was adduced by the complainant.  Proof affidavit has been filed.  Exts. A1 and A2 were marked.  Heard the learned counsel for the complainant.

          3. The points that arose for consideration are as follows:

          i. Whether the complainant is entitled to get refund of Rs.

            25,000/- from the opposite party with interest?

          ii. Whether the opposite party is liable to pay compensation and

             costs of the proceedings to the complainant?

          4. Point No. i.  Ext. A1 bank account  statement of the complainant dated 04-08-2012 would show that on 28-09-2011 the opposite party collected Rs.50,000/- from the complainant.  Ext. A2 is the receipt issued by the opposite party.  Ext. A2 reads as follows:

          “We acknowledge receipt of Rs. 25,000.00 as deposit towards your proposal for “ING New Best Year”.  The money deposited by you has been adjusted against your policy No. 02291411 as follows:

          5. Ext. A2 goes to show that  an amount of Rs. 25,000/- alone was accounted in for the policy.  According to the complainant the opposite party misappropriated the remaining amount of Rs. 25,000/-.  A policy holder is entitled to a valid receipt at the time of receipt of the premium amount.  Since the opposite party failed to provide valid reasons for the withholding of the remaining amount of Rs. 25,000/-.  they are legally liable to refund the same with interest to the complainant.

          6. Point No. ii.  The grievances of the complainant is duly considered and  the opposite party is directed to refund the monitory loss sustained by the complainant,  this Forum refrains from ordering  compensation and costs of the proceedings.

          7. In the result, this Forum partly allows the complaint and direct that the opposite party shall refund Rs. 25,000/- with 12% interest p.a.  from 28-09-2011 till realization without causing prejudice to the rights of the complainant regarding the insurance policy.

          The above said order shall be complied with within a period of thirty days  from the date of receipt of a copy of the order.                

                    Pronounced in the open Forum on this the 30^th day of April 2013.

Sd/-

                     A  Rajesh, President.

                   Forwarded/By Order,

                   Senior Superintendent.

                                                   Appendix

Complainant’s exhibits :

Ext.   A1              :         Copy of statement

A2              :         Copies of  receipts                        

Opposite party’s Exhibits :        :         Nil