ORDER                                    Dated:  16.12.2016

Mohd. Anwar Alam, President

1. Complainant filed this complaint on 07-04-2016 and alleged that since 19.07.2008 he is making regular payment of the premium of policy no. 1211503 issued by OP to him. In the 1^st week of March 2015 he received a call from the representative of the OP Mr. Deepak Malhotra asking him whether he had received the bonus amount  or not but complainant denied  the same . OP intimated him that bonus amount of Rs. 2,25,220/- can be paid to him   after he purchase another policy another policy of Rs. 40,000/ and after receipt of the bonus amount the said policy can be cancelled. Complainant believed OP and  purchased a policy of Rs. 40,000/- bearing no. 52138275 and paid the premium vide cheque dated 27.03.2015.  Complainant received another phone call from one Mr. Paridihi intimating that there is one interest bearing policy and in case he deposit Rs. 3 Lakhs  hewould be able to get interest @ 9,880/- per month for 11 years.  Complainant replied that he has not received bonus amount as yet and he did not have Rs. 3 Lakhs at present.  Mr. Paridhi intimated  him to pay Rs. 1,50,000/- presently and told that  after receipt of the bonus he can make up the  amount of Rs. 3 Lakhs and immedilay he will be able to get the monthly interest.  The said fact was also confirmed by Mr. Amit Srivastava as he told complainant that  he is from fund releasing department and the bonus amount of Rs 2,25,200/- would reach the complainant by  29.06.2015 hence complainant paid Rs. 1,50,000/- vide cheque no. 772418 dated 6.06.2015 but complainant was shocked to see that the policy given is for a period of 10 years and not an interest bearing policy as assured by OP.  Complainant wrote  letter dated 17.08.2015 to OP apprising the above facts and email its complaint to Mr. Anil Ambani (MD) and Mr. Anup Rau CEO of OP. Complainant sent legal notice dated 16.03.2016 but to no avail. Hence OP is deficient in services and resorted to an unfair trade practice so he prayed  that OPs be directed to refund  Rs. 1,90,000/-  together with interest @ 18% p.a. till payment and Rs. 50,000/- as  compensation.
2. OP did not appear despite service of notice hence proceeded Ex-parte against it on 14.07.2016.
3. In support of complaint complainant filed his own affidavit and filed documents Ex. C-1 to Ex. C-5.
4. Complainant Vikas Gupta deposed in his affidavit that he is a policy holder of the OP since 19.07.2008 and making regular payment of the premium. Hence complainant is a consumer. It is evident in the deposition made by Vikas Gupta by way of his affidavit that he has paid installment premium of Rs. 40,000/- vide cheque dated 27.03.2015 (Ex. C-1 )  and Rs 1,50,000/- vide cheque dated 06.06.2015 (Ex. C-2/A). As the premium of policies was paid on the false representation and inducement by the officials of the OPs that he will get bonus from the OPs thereafter the same policies can be cancelled so he issued notice dated 16.03.2016 demanding therein refund of the amount of Rs. 1,90,000/- along with 18% interest.   There is no reason to disbelieve the deposition of the complainant. 
5. Looking to the above facts and circumstances of the case we are of the considered opinion that the OPs have issued policies (Ex. C-1/A)  and  policy (Ex.  C-2/B)  on the false inducement and representation by the official of the OPs hence complainant has a right to cancel it as OPs failed to refund this amount of Rs. 1,90,000/- along with interest despite  legal notice therefore deficiency in service on behalf of the OP is proved. Accordingly complaint is allowed and OP is directed as under:-

1. To refund the amount of Rs. 40,000/- and Rs. 1,50,000/- relating to canceled policies (Ex. C-1/A and Ex.C-2/B ) respectively along with 18% p.a. from the date of deposit till realization.
2. To pay Rs. 10,000/- as compensation on mental and physical harassment.
3. To pay Rs. 5,000/- as the cost of litigation.

6. This amount will be payable to the complainant within 60 days by the OPs  from the date of receipt of this order failing which an interest of  @ 18% p.a. will be payable on the amount of compensation and cost of litigation till realization.
7. Copy of the order made available to the parties free of cost as per law.

   File  be consigned to record room.

Announced on………