JUSTICE J.M. MALIK 1. The instant revision petition has been filed with a delay of 81 days. For the reasons mentioned in the application for condonation of delay, the said delay is hereby condoned. Sathuna Begam, insured, died in a fire accident on 17.11.2004. The present complaint was filed by her husband and her Legal Representatives. The insured availed loan in the sum of Rs.4,75,000/- from Syndicate Bank, respondent No.1/ opposite party No.1. The Syndicate Bank disbursed the first installment of the loan on 16.08.2003. The insurance claim was meant to safeguard the loan amount but the first premium was actually paid by the Syndicate Bank only on 09.11.2004. However, the necessary details of the insured were not furnished. The proposal was sent to the insurance company on 16.11.2004. It was returned on 22.11.2004 by Bajaj Allianz Life Insurance Co. Ltd., Bengaluru and Bajaj Allianz Life Insurance Co. Ltd., at Pune, Opposite party Nos. 2 & 3, respectively, for want of certain particulars. However, the insured passed away on 17.11.2004. It was argued that till the time of death of the insured, there was no policy to safe guard the loan. 2. The grouse of the complainants is that the date of the disbursement of the loan was made on 16.08.2003, but the premium was deducted from the account after more than one year and sent the proposal after obtaining the signatures from her, on 09.11.2004. The State Commission has correctly held that no deficiency can be attributed on Bajaj Allianz Life Insurance Co. Ltd., Bengaluru and Bajaj Allianz Life Insurance Co.Ltd., at Pune, Opposite party Nos. 2 & 3, respectively. They are duty bound to pay the insurance amount after the proposal and initial premium was to be forwarded, with all necessary details and records. The proposal application itself is incomplete. They are not duty bound to issue any policy. However, it was correctly held that Syndicate bank, the respondent No.1, was wee bit negligent, in sending the disbursement amount after more than a year. There is negligence, in action and passivity on the part of the Syndicate bank. The State Commission, in its order, held :- he 1st opposite party disbursed the first installment of the loan on 16.10.2003. The insurance scheme was to safeguard the loan amount. But the premium was paid by the 1st opposite party only on 09.11.2004. The proposal was not accompanied by necessary details and records for the opposite parties 2 and 3, to issue policy. By then, the borrower had died. The date of first disbursement of loan was 16.08.2003. But the premium was deducted from the borrowers account after one year and sent the proposal letter after obtaining signature from her on 09.11.2004, which reached the opposite parties on 16.11.2004, but was returned on 22.11.2004 by 2nd and 3rd opposite parties, for want of certain particulars. But the borrower died on 17.11.2004 and so at the time of death of the borrower there was no policy to safeguard the loan 3. The instant revision petition is filed by the Complainants/LRs of the deceased. The compensation granted by the State Commission against the petitioner is too meager. We modify the order of the State Commission. The attitude of the Bank authorities adds a shocking dimension to the situation. They twiddle their thumbs unaware of the loss they were going to cause to the complainants. Had the Syndicate Bank paid the amount immediately, along with proposal form, it might have done the trick. Therefore, we enhance the compensation from Rs.10,000/- to Rs.50,000/-, which be paid by Syndicate Bank/ Respondent No.1/OP No.1, to the LRs, within 60 days, otherwise, it will carry interest @ 9% p.a., till realization. The revision petition stands disposed of, in above terms.