Delhi

New Delhi

CC/161/2012

Associated Forex Service Ltd. - Complainant(s)

Versus

M/S. United India Insurance Company Ltd. - Opp.Party(s)

24 Nov 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/161/12                                      Dated:

In the matter of:

M/s. Associated Forex Services Ltd.,

Through its Regional Manager, Sh. S.K Panda,

M-43, Connaught Place, New Delhi-110001

 

……..COMPLAINANT

       

VERSUS

1. United India Insurance Co. Ltd.,

Branch Office no.1, 17/13, The Mall, Kanpur,

Through its Branch Manager

Also at:

United India Insurance Co. Ltd., Divisional Office, 1, 15/46, Civil Lines, Kanpur-208001

Also at:

Regional Office, Arif Chambers,

1, Kapoorthala Bagh, Aliganj, Lucknow,

U.P226020

Also at:

United India Insurance Co. Ltd.,

Ro-1, New Delhi, Kanchanjunga,

18, Barakhamba Road, Connaught Place,

New Delhi-110001

 

2. R.N Arya, Branch Manager,

United India Insurance Co. Ltd.,

Branch Office no.1, 17/13, The Mall,

Kanpur-208001

                                         ……. OPPOSITE PARTIES

 

 

ORDER

President: C.K Chaturvedi

               

The Complainant alleges deficiency in service on the part of OP insurance company in arbitrarily repudiating the loss of money during transit under a money insurance policy from 27.06.08 to 26.06.09 taken by complainant from OP. It is alleged by the company executive that on 25.08.08, he was carrying money from office to Super Bazar, where two persons came in front of his bike and there was scuffle and beating, and in the process the two boys decamped with the bag containing foreign currency worth Rs.17,78,969/-. A FIR no.385/058 was lodged at P.S Connaught Place & company informed. The police gave untraced report and company was provided all documents required vide Annexure C-5 to C-11 with complaint. The OP was reminded repeatedly vide Annexure C-12 to C-14. In Sep.11, vide Annexure C-15, company informed that the loss was not covered under policy Sec 1A & II and thus OP has repudiated the claim. Therefore this complaint alleging arbitrariness.

The OP in its reply has reiterated the same ground that loss under Sec-IA and Sec-II alone is covered, and not covered under Sec 1B, for which no premium is paid. We have perused the policy Annexure C/2. The OP has totally misdirected itself in interpreting the policy and acted without application of mind. Sec-IA limits loss to Rs.40 lacs, in respect of money to payment of wages etc., while Sec-IB has no limits of this type, for loss of money not covered under IA, in custody of employee while in transit. OP has read NIL limits as ‘NIL insurance premium’. The loss of Complainant Company is fully covered under the policy both under Sec-IB and Sec-IA (if lost money is wages etc.).

This is a clear case of deficiency in service, causing harassment to OP for undisclosed reasons, and displays insensitivity to consumers. We hold OP liable for this deficiency in service and direct OP to pay Rs.17,78,969/- to complainant with interest of 9% from date of loss till payment. We also award compensation of Rs.1,00,000/- for deficiency, harassment and Rs.20,000/- for litigation expenses.

 The order shall be complied with within 30 days of the receipt of the copy of the order; otherwise action can be taken against OP under Section 25 / 27 of the Consumer Protection Act.

File be consigned to record room.

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

 

        Pronounced in open Court on 24.11.2015.

 

 

 

(C.K.CHATURVEDI)

PRESIDENT

 

 

 (Ritu Garodia)

MEMBER