HON’BLE SUDIP NIYOGI PRESIDENT FACTS The case of the Petitioner in short is that: - Her father Late Nikhil Ranjan Haldar had purchased one life insurance policy for her from the OP and the policy no. was 18441671 dated 22.01.2011 and he had paid Rs.39,999/- being the amount first installment of premium. Her father also had paid premium for the next 2 years for the said policy. Then, after the death of her father, the Petitioner wanted to surrender the policy (Annexure – 4) and sent a letter to the OP. She received a letter from the OP on 10.04.2019, informing her that Rs.76,992.48/- was the surrender value of the said policy and she was asked to send a number of documents, namely, one request letter for surrendering of the policy, duly filled up the payout form, self-attested KYC document of life insured, death certificate of her father etc. On maturity of the policy on 22.01.2021, the OP sent a cheque of dated 25.01.2021 amounting to Rs.96,240.91/- in the name of her father. The Petitioner took some time to follow up the process of organizing all the documents on 21.03.2022, another cheque issued by the OP amounting to Rs.98,328.25/- which was also in name of her father. Subsequently, the Petitioner on 07.06.2022, organized all the documents for surrendering the said policy and sent the same with a request to issue a cheque in her name. But the OP allegedly failed to re-issue the cheque in her name. Now, the Petitioner pray for a direction upon the OP to pay the amount of Rs.98,328.25/-, which is the surrender value of the policy and also compensation and cost of litigation. OP did not contest the case by filing any written version and evidence. POINT FOR CONSIDERATION - Whether the Petitioner is entitled to the relief(s) as prayed for?
- FINDINGS
Petitioner filed her evidence and also documents (Annexure -A1 – 10) The Petitioner narrated the same thing in her evidence. From the documents it is found that Annexure – 1 is the copy of the policy certificate which reveals that the term of the said policy was for 10 years, premium to be paid for 10 years and the maturity date was 22.01.2021, the annualized premium inclusive of service tax was Rs.39,999.79/-. Annexures - 2, 3 & 4 are the receipts showing payment of premium for 3 years, namely, 2011, 2012 & 2013. Annexure – 4 is the letter sent by the Petitioner to the OP showing willingness to surrender the said policy. Annexure – 5 is found to have been issued by the OP to the Petitioner regarding surrender of the policy. It also includes the document to be filed by the Petitioner. Annexure – 6 is a copy of the letter along with a cheque of Rs.96,240.91/- dated 25.01.2021 issued by the OP, in the name of said Nikhil Ranjan Haldar, who is the father of the Petitioner. Likewise Annexure – 7 is another such cheque dated 21.03.2022 amounting to Rs.98,328.25/- also in the name of Nikhil Ranjan Haldar. Annexure – 8 is the copy of the letter, addressed to the OP from which it is found that the Petitioner submitted the documents for surrendering the policy. Annexure – 9 is another letter issued by the OP to the Petitioner, stating the cheque was dispatched for the maturity value of the policy and also requested for documents. Lastly, Annexure – 10 is a legal notice issued on behalf of the Petitioner on 25.08.2022 requesting for re-issuing the cheque in favour of the Petitioner. Now, copy of the policy certificate Annexure- 1 reveals that name of the policy holder was Mr. Nikhil Ranjan Haldar and the name of the life assured was Mrs. Madhumita Haldar, who is said to be the Petitioner in this case. It is the contention of the Petitioner that her father paid premium for 3 consecutive years, since taking of the policy and after his death, she on 18.01.2019 expressed to surrender the policy. She is also found to have filed the documents with the OP. We further find that OP issued two cheques one after another; the 1st one on 25.01.2021 for Rs.96,240.91/- and the second one on 21.03.2022 for Rs.98,328.25/-, which is the matured value of the said surrender policy and both the cheques were found to have been issued in the name of the father of the Petitioner, who was the original policy holder. But, according to the Petitioner, as her father is not alive, so she requested for issuing a cheque in her name. She also claimed to have returned the original chequesalong with other documents to the OP. It is to be noted that by the said insurance policy, the life of the present Petitioner was assured. So, unless and until a fresh cheque in the name of the Petitioner is issued, she is not in a position to encash the same and get the surrender value of the policy. So, we think that the Petitioner is entitled to have a fresh cheque to be issued in her name in respect of the amount of Rs.98,328.25/- along with interest @ 6% p.a. from 21.03.2022 which is the date of the second cheque issued by the OP in the name of the Late Nikhil Ranjan Haldar. This apart, Petitioner is also entitled to a compensation and Rs.2,000/- for cost of litigation. No separate amount of compensation is awarded in this case. Accordingly it is, ORDERED That the instant case be and the same is allowed ex parte against the OP. OP is directed to issue a fresh cheque in the name of the Petitioner for Rs.98,328.25/- (Rupees Ninety-Eight Thousand Three Hundred Twenty-Eight & Twenty-Five Paise Only) along with interest @6% p.a. thereon from 21.03.2022 until realization in full. OP also to pay Rs.2,000/- (Rupees Two Thousand Only) towards cost of litigation to the Petitioner. The above order shall be complied with by the OP within 45 days from the date of this Order failing which the Petitioner shall be at liberty to realize the same in accordance with law. Dictated and corrected by me President | 
