Date of filing: 21-08-2012.

Date of disposal: 27-11-2012.

BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM - II:

VIJAYAWADA, KRISHNA DISTRICT

Present: Sri A. M. L. Narasimha Rao, B.Sc., B. L., President

Smt N. Tripura Sundari, B. Com., B. L., Member

Sri S. Sreeram, B.Com., B.A., B.L., Member

Tuesday, the 27th day of November, 2012

C.C.No.140 of 2012

Between:

Potluri Adiseshu, S/o Ramachandrayya, R/o.D.No.1-150, Garikaparru Village, Thotlavalluru Mandal, Krishna District.

….Complainant

And

1. The Authorized Signatory, ICICI Prudential Life Insurance Company Ltd., Matha Towers, Near Benz Circle, Ring Road, Vijayawada – 10.

2. The Authorized Signatory, ICICI Prudential Life Insurance Company Ltd., Vinod Silk Mills Compound, Chakravarthi Ashok Road, Ashok Nagar, Kandavali (East), Mumbai – 400 101.

. … Opposite Parties.

This complaint is coming before for final hearing on 22-11-2012 in the presence of Sri S.S.C. Bose, advocate for complainant, opposite parties remained absent and having stood over for consideration till this day, the Forum doth order the following:

ORDER:

(Delivered by Hon’ble Member Sri S. Sreeram)

This is a complaint filed by complainant under Sec.12 of Consumer Protection Act with a prayer to direct the opposite parties 1 and 2 to pay policy amount of Rs.25,000/- along with interest as agreed, to pay the said amount with subsequent interest at 18% p.a. from the date of maturity, to pay Rs.5,000/- for mental agony, to pay Rs.2000/- towards costs.

1. The brief averments of the complaint are as follows:

The complainant took policy from the 1st opposite party at Vijayawada under policy No.09689716 commencing from 29-5-2007 for Rs.25,000/- for a period of five years by original vesting date 30-5-2012. While so 15 days prior to 29-5-2012, the staff member of 2nd opposite party from Mumbai by name Feddric called the complainant and stated that the policy will be matured on 29-5-2012 and asked that whether he is taking amount or continue in pension scheme. For that the complainant stated that he will take amount as he has no interest to continue it in pension scheme. On that the said personnel instructed the complainant to approach the 1st opposite party on 30-5-2012 to receive the amount and accordingly the complainant visited 1st opposite party on 30-5-2012. But the 1st opposite party people stated that as the complainant not approached on 29-5-2012, the said amount along with interest adjusted in pension scheme and not accepted to pay the amount. Immediately on 1-6-2012 the complainant wrote a letter to 2nd opposite party by narrating all the things and requested to pay the amount. But there is no response from the 2nd opposite party except receiving a letter dt.1-6- 2012 on 8-7-2012. Having vexed with the attitude of opposite parties after being wandered around them, the complainant issued a regd. Notice on 14-7-2012 and the opposite parties received the same, but of no use. Hence, the complaint.

2. After registering the complaint, notices were sent to the opposite parties. Though the notices were served on opposite parties 1 and 2, they did not choose to make their appearance. Hence, they were set exparte and proceeded with matter.

3. The complainant filed his affidavit and got marked Ex.A1 to A9.

4. Heard and perused the record.

5. Now the point that arises for consideration in this complaint are:

i) Whether there is any deficiency in service on the part of the opposite parties 1 and 2 in not returning the amount after maturity?

ii) If so is the complainant entitled for the reliefs as prayed for?

6. Point No.1 : On perusing the material on hand (complaint, affidavit and documents), the plea of the complainant is that he took policy from 1st opposite party on 29-5-2007 under the name ‘Life link super pension” by paying an amount of Rs.25,000/-. The opposite parties allotted policy Number 09689716 to complainant and the policy term is five years. The same is evident from Ex.A1. In the said policy, it is clearly mentioned that the original vesting date is 29-5-2012 and they have admitted the age of complainant. The complainant also filed Ex.A2 Unit statement for the period 1-5-2010 to 31-5-2011 which shows the closing balance as on 31-5-2011 as Rs.29,886.39 ps. The grievance of the complainant is that 15 days prior to 29-5-2012 the staff personnel of 2nd opposite party by name Feddric made a phone call to him and asked whether the complainant is intending to receive the amount after maturity and continue in pension scheme, for which the complainant stated that he is intending to receive the amount after maturity and accordingly he approached the 1st opposite party on 30-5-2012, by which time the 1st opposite party staff stated that as he has not approached on 29-5-2012 his amount was adjusted to pension scheme. Thereafter the complainant made correspondence with opposite parties and also got issued legal notices, but he has not received any proper response. It is pertinent to note that the opposite parties have no right to adjust the amount of complainant to pension scheme under the guise that he has not approached on the maturity date more particularly under the light of categorical instruction of complainant to 2nd opposite party staff that he is intending to receive the amount after maturity. Further the opposite parties have not approached the forum to clarify under what circumstances they have adjusted the amount of complainant to pension scheme, though they received notices. As such the averments made in the complaint have remained unchallenged. Further the opposite parties did not send any reply to the legal notice of complainant. Therefore there is nothing on record to disbelieve the version of complainant. Hence, we found deficiency on the part of opposite parties 1 and 2. Accordingly this point is answered.

Point No.2

9. In the result, the complaint is allowed and the opposite parties 1 and 2 jointly and severally are directed to pay the policy amount of Rs.25,000/- (Rupees twenty five thousand only) with accrued interest thereon and also directed to pay the subsequent interest at 12% p.a. on Rs.25,000/- from the date of maturity i.e. 29-5-2012 till realization apart from paying compensation of Rs.2000/- and costs of Rs.500/- to the complainant. The opposite parties are directed to comply with the order within one month from the date of receiving copy of this order.

Type written by Steno N. Hazarathaiah, corrected by me and pronounced by us in the open Forum, this the 27th day of November, 2012.

PRESIDENT                                                                                      MEMBER                                                            MEMBER

Appendix of evidence

Witnesses examined

On behalf of the complainant:                                                                                       On behalf of opposite parties:

Sri Potluri Adiseshu,                                                                                                          -None-

(by affidavit) - PW-1

Documents marked

On behalf of the complainant:

Ex.A1 Photocopy of letter issued by OP to the complainant and premium receipt.

Ex.A2 Copy of material note.

Ex.A3 Photocopy of policy details.

Ex.A4 31.05.2012 Photocopy of letter issued by complainant to OP.

Ex.A5 Postal receipt.

Ex.A6 11.06.2012 Photocopy of letter issued by OP to the complainant

Ex.A7 14.07.2012 Photocopy of legal notice got issued by complainant to Ops.

Ex.A8 Postal acknowledgement.

Ex.A9 Ex.A8 Postal acknowledgement.

On behalf of opposite parties: NIL

PRESIDENT