Present: Proxy counsel for Shri N.K.Katiwal, Adv. for
DH.
Sh.Suresh Kumar, Advocate for JD No.1 & 2.
JD No.3 & 4 given up.
ORDER
The complainant/Decree Holder has filed this execution with the averments that the complaint filed against the opposite parties/JDs was allowed by this Forum on dated 18.07.2014 and the opposite parties/JDs were directed to pay insured amount as Rs.3,00,000/- being insurance cover alongwith interest @ 12 % per annum w.e.f. 30.05.2011 till its realization and to pay a sum of Rs.2200/- on account of litigation charges with a direction to comply the order within 45 days but the has not been complied with till today. The opposite parties No.1 & 2 have only paid Rs.11488/- and now a sum of Rs.4,11,900/- is due towards them.
2. The opposite parties /JDs No.1 & 2 filed objections stating therein that vide order dated 18.07.2014 this Hon’ble Forum, in para No.7 & 8 held, as under:
Para No.7: A perusal of clause 4 of the insurance certificate reveals that the insurance cover is available to the housing loan borrower from the date of enrolment and will be current during the tenure of the loan. It is further revealed that the insurance cover will cease when in the housing loan borrower completes 70 years of age or when the loan amount is reduced to the nil balance. These two conditions mentioned in the insurance certificate support the case of the complainant as the borrower died before attaining the age of 70 years and one installment of loan was due at the time of death.
Para No.8: Keeping in view the fact and circumstances mentioned above we are of the view that the complainant is entitled to the benefit of the insurance cover and the complaint of the complainant is allowed with costs and respondents are directed:
- To pay the insured amount to the complainant alongwith interest @ 12 % per annum w.e.f. 30.05.2011 i.e. from the date of filing of the complaint till its final payment.
- To pay Rs.2200/- as cost of litigation. The compliance of the order shall be made within 45 days from the date of receipt of the order.
As per terms and conditions of master policy schedule II clause No.7 sum assured: The sum assured means the outstanding loan account, including interest, in the name of member in the books of the grantees and calculated as per the original EMY repayment schedule, in respect of which premium is payable. In the said case, husband of the complainant kept on paying all his due installment in time till his death on 29.05.2010 and at the time of his death only one installment of Rs.11700/- remained due. The insured amount i.e. the outstanding amount of one installment was payable to the complainant and the same was payable alongwith interest @ 12 % per annum w.e.f. 30.05.2011 from the date of filing of complaint till its final payment. The JDs have paid Rs.18137/- to the complainant vide cheque No.699543 dated 14.08.2014 drawn in favour of Laxmi Devi 11344109052 . The order dated 18.07.2014 passed by this Forum has already been complied. Prayer for dismissal of the execution has been made.
3. Learned counsel for the appearing parties have been heard.
4. The complaint was allowed by this Forum on 18.07.2014 and the opposite parties no.1 & 2 were directed as under:
- To pay the insured amount to the complainant alongwith interest @ 12 % per annum w.e.f. 30.05.2011 i.e. from the date of filing of the complaint till its final payment.
- To pay Rs.2200/- as cost of litigation. The compliance of the order shall be made within 45 days from the date of receipt of the order.
The relevant clause of master policy of home loan insurance are as under:
6. In the event of the death of Member at any time, after 45 days (except the accidental death) from the date of commencement of risk, subject to the policy being in full force, but not later than the member completing the age of 70 years, to pay the grantees or any person so authorized by the grantees the sum assured.
7. The sum assured means the outstanding loan account, including interest in the name of the member in the books of the grantees and calculated as per the original EMI repayment schedule in respect of which the premium is payable.
The borrower had died at the age of 63 years and only one installment to the tune of Rs.11700/- was due. In the objections, it is specifically mentioned by the JDs that Rs.18137.16/- has already been paid to the complainant and this fact has not been disputed by the complainant/DH. As per clause 6 & 7 of the master policy the sum assured means the outstanding home loan. Only one installment to the tune of Rs.11700/- was due and the JDs have paid an amount of Rs.18137.16/- to the complainant being outstanding sum (sum assured) alongwith interest and cost of litigation as per the directions, therefore, we are of the view that nothing is due towards the JDs and the present execution is not maintainable. Accordingly, the execution petition is hereby dismissed leaving the parties to bear their own costs. Copy of this order be supplied to the parties free of costs. File be consigned to the record room after due compliance.
Member President,
DCDRF, Bhiwani 06.02.2020
