Delhi

New Delhi

CC/894/2008

L.S. Arya - Complainant(s)

Versus

M/S. Centurion Bank of Punjab - Opp.Party(s)

05 Jun 2015

ORDER

CONSUMER DISPUTES REDRESSAL FORUM-VI

(DISTT. NEW DELHI), ‘M’ BLOCK, 1^STFLOOR,

VIKAS BHAWAN, I.P.ESTATE,

NEW DELHI-110002.

 

Case No.CC/894/08                        Dated:

In the matter of:

L.S Arya,

C-369, Vikas Puri,

New Delhi-110018

 

……..COMPLAINANT

       

VERSUS

1. Centurion Bank of Punjab,

(Merger with HDFC Bank)

M-39, Opp. Shanker Market,

New Delhi-110001

 

2. Branch Manager,

Centurion Bank of Punjab,

C-16, Vikas Puri, New Delhi-110008

                                         ……..OPPOSITE PARTIES

 

ORDER

Member: S.R Chaudhary

 

The Complainant had purchased 4 policies for self & wife, a growth mutual fund of Rs.72.50 lakhs which would provide him minimum return of Rs.52,000/- per month. The details are reproduced below:

1. Policy no.RPG-1814251 (5X5 years):            Rs.25 lakhs
2. Policy no.APG-1433096 (3X5 years):            Rs.15 lakhs
3. Policy no.APG-1841450 (3X5 years):            Rs.15 lakhs
4. Policy no.APG-1837373 (3.5X5 years):         Rs.17.5 lakhs

                                                      Total:         Rs.72.5 lakhs

 

 Complainant issued a cheque of Rs.3 lakhs which was encashed on 16.01.08 but complainant had sent a request to his banker on 17.01.08 to stop the payments but the cheque in question was already cleared.

OP replied in Para I that the Centurion Bank has been merged with HDFC Bank on 23.05.08 and thereafter all liabilities lied upon the shoulder of HDFC Bank as per Exh.A. Fruther OP admitted the transaction of Rs.3 lakhs vide cheque no.812428 dated 15.01.08 in favor of Aviva Life Insurance duly encahsed on 16.01.08 as per Exh.B and also admitted the application of complainant received on 17.01.08 to stop the payments in Para4 where as the account was already debited on 16.01.08 as alleged. Bank once credited the amount; to OP it cannot be reversed after 24 hours because the credit statement being forwarded in same day to RBI. However, later on during free look period he cancelled the policy and subsequently money given for policy was returned. He suffered mental agony during process, and has to sell shares to meet debit etc.

In our considered view, for such acts bases on his judgments and policy heaving already cancelled no deficiency can be attributed to OP, bank and Aviva Life Insurance Co. also cannot faulted in returning the policy in free look period. Thus, there is no case of deficiency. Complaint is dismissed.

File be consigned to record room.

Copy of the order be sent to the parties free of cost.

 

        Pronounced in open Court on 05.06.2015.

 

                          

(C.K.CHATURVEDI)

PRESIDENT

 

(S.R. CHAUDHARY)

MEMBER