For Complainant : Sri Jagannath Padhi, Advocate.
For Op Nos.1 & 2 : Sri Basanta Kumar Patro, Advocate.
-x-
1. The brief history of the case of the complainant is that he had taken Bajaj Allianz Unit Gain Plus Gold Size Two Plan from Ops vide Policy No.0070721552 dt.03.10.2007 for a sum assured of Rs.1.00 lac, the annual premium being Rs.20, 000/- and accordingly deposited premiums for the year, 2007, 2008 & 2009. It is submitted that the complainant had withdrawn Rs.16, 500/- on 01.02.2012 and Rs.20, 000/- on 29.01.2015 from the said account and according to the OP.1 the complainant can be allowed for final withdrawal on maturity of the policy i.e. 03.10.2017. It is further submitted that on going through the policy details after the date of maturity, the OP.1 had stated that the maturity value of Rs.44, 476/- is due to the complainant and the maturity value will be automatically go to the complainant but after repeated approach the Ops did not effect payment in favour of the complainant. Thus alleging deficiency in service on the part of the Ops he filed this case praying the Forum to direct the Ops to pay Rs.44, 476/- towards maturity value under the policy with interest @ 12% p.a. from the date of maturity i.e. 03.10.2017 and to pay Rs.30, 000/- towards compensation and cost to the complainant.
2. The OPs though entered appearance through their A/R, did not prefer to file counter but through a memo the A/R for the Ops stated that the Ops have already paid the maturity amount of Rs.44, 476/- on 01.09.2018 towards the eligible policy dues through NEFT to the bank accounts of the complainant and prayed to drop the proceeding in this case.
3. Parties have filed certain documents in support of their cases. Heard from the parties through their respective A/Rs and perused the materials available on record.
4. In this case Policy vide No.0070721552 was started from 03.10.2007 with 10 years premium term, the yearly premium being Rs.20, 000/- and the complainant had deposited 3 premiums i.e. for the year, 2007, 2008 & 2009. It is also seen that the complainant had withdrawn a sum of Rs.36, 500/- from the said accounts, the maturity date being 03.10.2017. The complainant submitted that the OP.1 assured that the complainant would get Rs.44, 476/- on the date of maturity and that will go automatically to the bank accounts of the complainant but in spite of approach, the Ops did not effect maturity payment in favour of the complainant.
5. This case has been filed by the complainant on 25.06.2018 against the Ops for non payment of maturity dues and the Ops without filing any counter to the allegations of the complainant had effected maturity payment of Rs.44, 476/- in favour of the complainant on 01.09.2018 and through a memo the Ops have furnished the payment details in this case.
6. It is seen that the date of maturity of the policy is 03.10.2017 but the Ops have paid the maturity value to the complainant on 01.09.2018 without any mention regarding up dated interest payment. Hence during this gap period between date of maturity and date of actual payment, the complainant is certainly entitled for interest but the Ops have not paid any interest for the said period. In our opinion, non payment of dues in time to the complainant certainly amounts to deficiency in service on the part of the Ops and the complainant is entitled for interest and compensation besides cost of this litigation. Considering the sufferings of the complainant we feel a sum of Rs.2000/- towards compensation and Rs.2000/- towards cost in favour of the complainant will meet the ends of justice.
7. Hence ordered that the complaint petition is allowed in part and the Ops being jointly and severally liable are directed to pay interest @ 12% p.a. from 03.10.2017 to 01.09.2018 on Rs.44, 476/- and to pay Rs.2000/- towards compensation and Rs.2000/- towards costs to the complainant within 30 days from the date of communication of this order.
(to dict.)
