Karnataka

StateCommission

A/185/2018

The General Manager Customer Services, EXIDE Life Insurance Company Ltd. - Complainant(s)

Versus

Sridhar Kinnimoolky - Opp.Party(s)

V.Raman

10 Jan 2024

ORDER

                                                                    Date of Filing :05.02.2018

                                                                  Date of Disposal:10.01.2024

 

BEFORE THE KARNATAKA STATE CONSUMER DISPUTES REDRESSAL COMMISSION, BENGALURU (PRINCIPAL BENCH)

 

DATED:10.01.2024

 

PRESENT

 

HON’BLE Mr JUSTICE HULUVADI G RAMESH : PRESIDENT

 

Mr K B SANGANNANAVAR : JUDICIAL MEMBER

 

Mrs DIVYASHREE M : LADY MEMBER

 

 

APPEAL No.185/2018

 

1. The General Manager

    Customer Services

    M/s EXIDE: Life Insurance Co Ltd.

    (formerly ING Vysya Life Insurance

     Co Ltd.,)

    3^rd Floor, J P Techno Park

    No.3/1, Millers Road

    Bengaluru - 560 001

 

2. The Senior Branch Manager

    M/s EXIDE Life Insurance Co Ltd.,

    (formerly ING Vysya Life Insurance

     Co Ltd.,)

    Vittal Arcade, 1^st Floor

    Near Radha TVS

    Udupi - 576 101.

 

    Through its Registered Office

    M/s EXIDE Life Insurance Co Ltd.,

    (Formerly ING Vysya Life Insurance

     Co Ltd.,)

    Registered Office

    3^rd Floor, J P Techno Park

    No.3/1, Millers Road

    Bengaluru - 560 001                                               Appellants

     (By Mr V Raman, Advocate)

-Versus -

Mr  Sridhar Kinnimoolky

S/o Mr  Thouda Shettigar

‘Vatsalya’

No.76, Badagubetty

Kukkikatte

Udupi - 576 101                                                            Respondent 

(By Mr Krishnanada Mallya H, Advocate)

                                                

   : ORDER :

 

Mr JUSTICE HULUVADI G RAMESH : PRESIDENT

 

01.     This Appeal is filed under Section 15 of Consumer Protection Act 1986 by the OP, aggrieved by the Order dated 26.12.2017 passed in Consumer Complaint No.40/2016 on the file of District Consumer Disputes Redressal Forum, Udupi (hereinafter referred to as the District Forum).

02.     The District Forum after enquiring into the matter, deemed it fit to allow the Complaint and held that OPs are jointly and severally liable to pay a sum of Rs.2,60,299.50 with interest @ 9% p.a from the Date of Maturity of the Policy till the date of payment and to pay an amount of Rs.1,00,000/- towards Compensation and Rs.10,000/- towards costs within 30 days from the Date of receipt of copy of the Order.

03.     Aggrieved by this Order, OPs are in Appeal, inter-alia contending amongst other grounds that, the District Forum failed to take into account, the contention of the Appellant that due to Life Assured being Diabetic, the normal Mortality charges detailed in the Schedule to Policy Terms shall not be applicable and as such revised high Mortality charges as accepted by the Complainant vide his letter dated 03.10.2007 alone shall be applicable. Thus the mortality charge calculated by the District Forum is beyond the scope of agreed contract between the parties.   Further contended that, the Appellant on its own had re-calculated the mortality charges and found that the actual balance in the IPA after deducting all charges including Mortality Charges was not zero, but, having a balance of Rs.2,14,019.18 and accordingly, the Appellant had paid the balance amount of Rs.2,14,019.18 in the IPA by remitting the same  through NEFT of CITI Bank Services, Mumbai on 13.03.2017 to the Complainant’s Bank Account No.00010030100000 maintained with Corporation Bank, along with a letter to the Complainant dated 13.03.2017.  Further contended that, the Complainant has conveniently to his advantage and to the dis-advantage of the Appellant, has suppressed the receipt of said IPA balance, to the District Forum.   Thus, the Appellant seeks to set aside the Impugned Order by allowing the Appeal.

04.     Heard the arguments of the learned Counsels on record. Perused the Impugned Order, grounds of Appeal and documents on record.

05.     It is not in dispute that the Complainant had  obtained ING Vysya Unit Linked High Life Policy by paying an Annual Premium of Rs.1,50,000/- for a term of three years, with the Sum Assured of Rs.7,50,000/- and Maturity of the Policy being 05.10.2014. It is also not in dispute that, OP after receipt of Medical Report of the Insured, revised applicable terms and charges to the Life Assured and issued Insurance Policy No.00809101, with Policy Schedule to the Insured 05.10.2007.

06.     During the course of his arguments, the learned Counsel for Appellant submitted that the actual balance in the IPA after deducting all charges including Mortality charges was not zero but was having a balance of Rs.2,14,019/-.  Further, a sum of Rs.2,14,019.18 was transferred through NEFT to the account of Complainant on 13.03.2017 and the same was  also intimated to the Complainant. 

07.     On perusal of the documents annexed to the Appeal Memorandum viz., Annexure-10 page No.70 & 71, it is observed that the OP had transferred the amount of Rs.2,14,019.18 being the maturity amount,  through NEFT of Citi Bank service, Mumbai to the account of Complainant on 13.03.2017 with a letter to the Complainant and to evidence the same, not produced any bank statement showing that the amount has been credited to the complainant’s account during pendency of the case and what prevented OPs to produce the same before the District Forum to prove their case, which complainant denied that the said sum of Rs.2,14,019.18 credited his account only after order passed by the District Forum.  However, it is pertinent to place on record that the details of payment made is not reflected in reply to the Legal Notice and so also in the Version of OPs, however, the  documents alleged to be related has been produced along with Appeal Memorandum, which requires a re-consideration and to take decision in this regard in accordance with Law.  Thus, Appeal is allowed.  Consequently, Impugned Order dated 26.12.2017 passed in Consumer Complaint No.40/2016 on the file of District Consumer Disputes Redressal Forum, Udupi is hereby set aside and matter is remanded to the District Forum to afford an opportunity to both the parties to produce clinching documents to substantiate their claims and counter-claims and decide the case on merits within 3 months from the date of receipt of this Order.

 

08.     The statutory Amount in Deposit is directed to be refunded to the Appellant on proper identification by his Advocate.

 

09.     Send a copy of this Order to the District Commission as well as to the parties concerned.

 

Lady Member                    Judicial Member                      President

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