Punjab

Patiala

CC/15/305

Amritpal Singh - Complainant(s)

Versus

Shriram Life Insurance Co. - Opp.Party(s)

Sh Pargat Singh Jawanda

11 Oct 2018

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM,

PATIALA.

 

                                      Consumer Complaint No. 305 of 17.12.2015

                                      Decided on:     11.10.2018

 

Amritpal Singh R/o H.No.838, Peerkhana Road, Ramdasia Ravidas Puri, Khanna, District Ludhiana now residing at # 613-E,Azad Nagar, Sirhind Road, Patiala.

 

 

                                                                   …………...Complainant

                                      Versus

1.       Shriram Life Insurance Company Ltd., Regd. Office:3-6-478, III Floor, Anand Estates, Liberty Road, Himayat Nagar, Hyderabad-500 029 through its Managing Director.

2.       Shriram Life Insurance Company Ltd., Branch office SCO 9-10, 1^st Floor, Madame Showroom, Leela Bhawan Patiala 147001 (contact No.0175-2222910) through its Branch Manager.

                                                                   …………Opposite Parties

 

                                      Complaint under Section 12 of the

                                      Consumer Protection Act, 1986.

 

QUORUM

                                      Smt. Neelam Gupta, Member

                                      Sh.Kanwaljeet Singh, Member                  

                  

                                                                            

ARGUED BY:

                                      Sh.P.S.Jawandha,Advocate, counsel for the complainant.

                                      Sh.Amit Gupta,Advocate, counsel for opposite parties.

 

                                     

 ORDER

                                    SH. KANWALJEET SINGH,  MEMBER

1. Sh.Amritpal Singh, (hereinafter referred to as the complainant) has filed the present complaint against Shriram Life Insurance Company Ltd. & another (hereinafter referred to as the OPs) under Section 12 of the Consumer Protection Act(for short the Act),1986.

2.       Briefly, the case of the complainant is that his grand-mother namely Smt.Gurmet Kaur, purchased one policy under Shrivishram Plan, bearing No.LN130900025211 dated 26.11.2009 from OP No.2 vide proposal No.185709000085. At that time the OP instructed the grandmother of the complainant for the deposit of the premium in yearly installments of Rs.25000/- for five years. Accordingly all the premiums were deposited by the grandmother of the complainant within time.

          It is stated that 6^th installment of Rs.25000/-was deposited inadvertently on 14.12.2011 by the grandmother of the complainant which was received by the OPs. Thereafter when the grandmother of the complainant came to know about the above said fact, she asked the OPs to return  the amount of 6^th installment but they instead of returning the same mis-guided her that the same will be refunded at the policy amount at the time of maturity alongwith other benefits.

          It is stated that grandmother of the complainant died  and the policy has been matured on 26.11.2014. The complainant approached the OPs for the release of the amount of policy but they failed to pay any heed to his request. The complainant also issued a legal notice through his counsel Sh. Pargat Singh Jawandha. Despite receipt of the said legal notice, the OPs did not reply the same nor redressed the grievance of the complainant. There is thus deficiency of service on the part of the OPs which caused harassment and mental agony to the complainant. Hence this complaint with the prayer for direction to the OPs to release policy amount in favor of the complainant alongwith up to date interest and also to pay the amount of 6^th installment of Rs.25000/- and Rs.50,000/- for mental agony , harassment and financial loss suffered by the complainant.

3.       Upon notice OPs appeared through counsel and filed their written version jointly having taken preliminary objections that grand-mother of the complainant Mrs.Gurmet Kaur had proposed a policy for her son by submitting a proposal form bearing No.185709000085 dated 19.11.2009, which was accepted by the company and issued policy bearing No.LN130900025211 for a sum of Rs.2,00,000/- for a term of five years with annual renewal premium of Rs.25000/- for a period of five years. That only three installments were paid against the said policy and last installments was paid on 14^th December,2011. The proposal deposit amount of Rs.25000/- is admitted. That no request has ever been made by the complainant for maturity of the policy and as such the present complaint is liable to dismissed. For seeking maturity the customer has to fill in the form attached and submit the same to the OPs for processing the maturity fund.

          On merits, the OPs reiterated the stand as taken in the preliminary objections. The OPs denied all other averments of the complainant and has prayed for the dismissal of the complaint.

4.       In  order to prove the case , the ld. counsel for the complainant has tendered into evidence Ex.CA affidavit of the complainant alongwith documents Ex.C1 copy of insurance policy, Ex.C2&C3, copies of proposal deposit receipts dated 26.11.2009, Exs.C4&C5 copies of renewal premium receipts dated 2.12.2010, Exs.C6&C7 receipts, Exs.C8 & C9 legal notices, Exs.C10& C11 postal receipts and closed the evidence of the complainant.

5.       The ld. counsel for the OPs has tendered into evidence Ex.OPA affidavit of Sh.E.Sridhar, AGM of the OPs, alongwith documents Exs.OP1 to OP6 and closed the evidence of the OPs.

6.       We have heard the ld. counsel for the parties and have also gone through the record of the case, carefully with the assistance of both the ld. counsel for parties.

7.       During arguments, the contentions of the parties are similar to their respective pleas, so no need to reiterate the same.

8.       It is admitted by both the parties that grandmother  of the complainant had proposed a policy for her grandson by submitting a proposal form on 19.11.2009, which was accepted by the OPs and issued policy in question for a sum of Rs.2,00,000/- for a term of five years with annual renewed premium of Rs.25000/-.

9.       Now the major controversy is that “whether complainant had deposited three installments as  per para no.2  on merits, in the written statement of OPs or not?

10.     It is crystal clear from Ex.C2 to C7 unit linked renewal premium receipts These receipts are six in total but  these receipts are three i.e. Ex.C2, Ex.C4 and Ex.C7. So stand of the OPs that the complainant had paid only three installments is believable. “A man can lie but documents can’t”.

11.     As per Ex.C1, policy terms and conditions, clause 17 of which is reproduced as under:

“17.Surrender Value:

Policy can be surrendered after the end of three years from the date of commencement, cash surrender value payable depends upon the payment of premiums………………………………….”

the complainant is entitled for surrender value.

12.     Resultantly, we partly allow the complaint with a direction to the OPs to pay the surrender value of the policy in question alongwith interest @9% per annum from the date of filing of the complaint i.e. 17.12.2015 till realization alongwith Rs.10,000/-as compensation for mental agony, which is inclusive of litigation expenses. Compliance of the order be made by the OPs within a period of 45 days from the date of the receipt of the certified copies of this order. Certified copies of this order be sent to the parties free of cost under the Rules. Thereafter, file be indexed and consigned to the Record Room.

ANNOUNCED

DATED:11.10.2018     

                                                                  

                                           KANWALJEET SINGH  NEELAM GUPTA

                                                MEMBER                         MEMBER