Delhi

New Delhi

CC/1116/2010

Deepak Jain - Complainant(s)

Versus

M/S. Kotak Life Insurance - Opp.Party(s)

07 May 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/1116/10                                                                                                                                                                              Dated:

In the matter of:

Deepak Jain,

C-57, Milansar Apartments,

Sector-14, Rohini, Delhi-89

 

……..COMPLAINANT

       

VERSUS

Kotak Life Insurance/Kotak Bank-

Through its:

 

1. Incharge, Kotak Life Insurance,

        7^th Floor, Ambadeep Building,

        14, K.G Marg, New Delhi-110001

 

2. Chairman/M.D/G.M/Registered office,

        9^th FL, Godrej Coliseum,

        Behind Everad Nagar, Sion (East),

        Mumbai-400022

 

3. Kotak Life Insurance,

        5^th FL, HD Twin Tower,

        Netaji Subhash Place, Pitampura,

        New Delhi-110034

 

4. Madam Simran,

        18/30, East Patel Nagar, New Delhi

 

                                         ……. OPPOSITE PARTIES

 

 

ORDER (Oral)

Date of Arguments: 07.05.2015

Member: Ritu Garodia

Present:    Counsel for both the parties.

                Arguments heard.

                                                        

 

The short facts of alleged deficiency are that the complainant approached Kotak Mahindra Bank for loan facility. He was assured that a loan would be provided to him after taking insurance from OP Company. He signed the proposal form and received the insurance policy on 25.05.09, having a premium of Rs.15,000/-. The Complainant failed to get the loan and thereafter requested for refund of premium which was rejected and hence complaint was filed.

OP in its reply states that policy was accompanied by a letter wherein a free look period of 15 days was given for reconsideration to complainant. OP has also annexed letter dated 11.11.09 by complainant to OP regarding the complaint. OP conducted investigation and issued letter dated 13.01.10 where in it was reconfirmed that policy papers were in order. OP further states that Kotak Mahindra Bank is spate entity and consequently, they have no connection with loan facility.

After considering the arguments and scrutiny of record reveals that complainant is aggrieved due to refu8sal of loan facility by Kotak Mahindra Bank who is not a party in the present complaint. The insurance policy is annexed in the record file and was admittedly received by the complainant on 25.05.09. The complainant had a free look period of 15 days for reconsideration which he failed to avail. He made a request for refund after six months and as such, the OP Company as per terms and conditions of policy were unable to cancel the policy.

Hence, no deficiency in service on part of OP is made out and hence, the 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 07.05.2015.

 

 

 

(C.K.CHATURVEDI)

PRESIDENT

 

 

(S.R. CHAUDHARY)                 (Ritu Garodia)

MEMBER                                  MEMBER