Orissa

Rayagada

CC/48/2019

Mrs. P.Laxmi - Complainant(s)

Versus

The Branch Manager, Reliance LIFE Insurance Co. LTD., - Opp.Party(s)

Self

08 Apr 2021

ORDER

DISTRICT   CONSUMER DISPUTES REDRESSAL COMMISSION

POST  /  DIST: Rayagada,  STATE:  ODISHA,  Pin No. 765001.

                                                   

C.C.case  No.     48      / 2019.                             

P R E S E N T .

Sri   Gadadhara  Sahu,                                                      President.

Smt.Padmalaya  Mishra,                                                  Member

 

Mrs. P.Laxmi, Nehuru Nagar, Po/ Dist: Rayagada  (Odisha), Cell No. 9439090747.                                                  …. Complainant.

Versus.

1.The  Branch Manager, Reliance Life Insurance Co. Ltd., New Colony, Po/ Dist: Raygada, State:Odisha.

2.The  General  Manager, Reliance Life Insurance Co. Ltd., Regd. Office, H.B.Block, Ist. Floor, DhirubaiAmbani  Knowledge  city,  Navi Mumbai Maharastra State 400710.                                     … Opposite parties.

Counsel for the parties:                         

For the complainant:  Self.

.For the O.Ps  : Set  exparte.

.

JUDGEMENT

The  crux of the case is that  the above named complainant alleging deficiency in service  against  afore mentioned O.Ps    for non refund of balance deposited amount with interest bearing  policy No.50947376   for which  the complainant  sought for redressal of the grievances raised by the complainant.  The brief facts are summarized here under.

                                        

 

That the  O.Ps being the statutory authorities in the insurance field has approached  the complainant  with their agent and staff and convinced him that  the amount invested with the O.P  will fetch more money  and maturity   guarantee in life and it is an economic progress envisaged to the poor persons. Being  convinced they have asked him to join a policy  i.e. Reliance child plan of 6(six) years vide policy No.50947376 and the annual premium  had  fixed  Rs.30,000.00   which  had began  in the year  17.04.2013.  It is submitted that the policy  was continued for 6(Six) years as per the terms and  the complainant had paid the premium as follows:- Dt. 15.04.2013 Rs.30,000/- Dt. 26.04.2014 Rs. 29,525/- Dt. 29.04.2015 Rs. 29,540/- Dt. 07.5.2016 Rs.29,612/- Dt. 20.04.2017  Rs. 29,633/- Dt.20.4.2018 Rs.29,742/- Total  deposited  amount  a sum of Rs.1,80,000/- The complainant had received  money back from the O.Psin different dates  total amount a sum of Rs.98,000.00. But  till date the complainant has  not  received   the  balance amount and bonus earned against the said investment with interest.. The  O.Ps have violated the policy condition and directly  looted the money form   a poor   person.  The complainant  prays the Disrtrict Commision   direct the  O.Ps to pay  balance deposited amount with interest.

 

On being noticed   the O.Ps neither entering in to appear before the District Commission  nor filed their  written version inspite of more than  10 adjournments has been given  to them. Complainant consequently filed his memo and prayer to set exparte of the O.Ps.  Observing lapses of around 2 years  for which the objectives  of the legislature of the C.P. Act going to be destroyed to the prejudice of the interest of the complainant.  Hence after hearing  the  counsel for the complainant set the case  exparte against the O.Ps. The action of the O.Ps is against the principles of  natural justice as envisaged  under section  13(2) (b)(ii of the Act. Hence the O.P. set exparte  as the statutory period  for filing of  written version was over to close the case with in the time frame permitted by the C.P. Act.

          We therefore constrained to  proceed to dispose of the case, on its merit.  Heard from the complainant.   We perused the complaint petition and the document filed by the complainant.

         FINDINGS.

On perusal of the record it is revealed that there is no dispute that the complainant was a policy holder bearing No. No.50947376  opted for Reliance child plan.   Further  there is no disputes the  above  policy  term and premium payment term   was 06 years.   Again  there is no dispute the complainant had  paid total amount a sum Rs.1,80,000/-  for the period from Dt.17.04.2013 to Dt. 17.04.2018  towards  06  Nos.  yearly  premium   Rs. 30,000/- each premium. (copies of the policy schedule  is in the file marked as  Annexure-I)

The main grievance of the complainant is that  he has received a sum of Rs.98,000.00 against the  payment of Rs.1,80,000/-  less than the amount paid by him i.e. Rs. 82,000.00  interalia has not received  accrued bonus  and when asked the reason the O.P. No.1  had  stated  that it is  the survival   and maturity  benefit of the said policy and the complainant  is  not entitled anything more. Hence the  C.C. petition filed by the complainant  to get  the  balance amount.

 On perusal of the record this District Commission  found the complainant had paid a total premium of Rs. 1,80,000/- and since  it was a   survival benefit policy he  was  received back from the O.Ps  a sum of Rs.98,000/- Thus the O.Ps have  made a total payment of Rs. 98,000.00 against the payment of Rs. 1,80,000/- and  the  O.Ps have kept a sum of Rs. 82,000.00 while making final payment.

During the exparte  hearing the complainant examined himself and proved the payment  of the  money  to the O.Ps  in the policy bearing No. 50947376. The complainant has also produced  the voucher enquiry report  relating to the above case. The complainant also argued  due to non payment balance amount and bonus against the  policy  the complainant suffered a lot of financial trouble  and mental agony. The complainant prays the forum as the  O.Ps  not heard any  grievance of the complainant till date   so the  O.Ps  be  directed to refund balance amount   along with  bank interest and bonus.

             In  the absence  of any  denial  by  way  of  written  version  from the side  of the O.Ps. it is  presumed that the allegations  levelled against   the  O.Ps. deemed  to have  been  proved.    The  complainant   had  paid  the  amount   for the good service .  When the O.Ps  have failed to  give such service  as per policy bond  for   which  the O.Ps  have   received   the  amount.   It is  deemed that the  O.Ps   were   callous to the allegations  and it amounts  to deficiency  of service.

When a rural folk invest the money with the assurance of the agent in the insurance and when he came to know that the above investment is not yielding any profit even after years and as such the above investment brought by the agent and accepted by the O.P is not with any intention to give any economic protection but with an intention to grab the money of the rural folks.

In view of the discussion above it is found to be  an unfair trade  practice made by the agent and O.Ps.  The O.Ps  have introduced the agent to do the unfair deal with the rural folk as seen from the counter and as such the complainant is entitled to get  refund of the entire amount deposited by the complainant in the said scheme so as to enable them to invest the same with their choice.

We have gone through the complaint petition and documents available in the record. This forum by relying upon a citation passed by National Commission, New Delhi in the New India Assurance Co. Ltd., Versus M/s Sukhadham India Pvt. Ltd.,2011(1) CPR 191 such as  Insurance Company must settle claim without delay In the light of the above decision of law we allow the case.

Hence to meet  the  ends  of  justice,  the following   order is  passed.

ORDER.

In  resultant  the complaint petition stands  allowed  in  part  on contest against the O.Ps 

 

The O.Ps  ordered  to refund the balance  deposited  amount  a sum of Rs.82,000/-  with interest @  Rs. 9% per annum  from the date of respective deposit of whole amount till  realisation  besides  to  pay    Rs.500/-    towards  litigation expenses.

            The O.Ps are directed to make the aforesaid payment within 60 days from the date of receipt of this order.

Dictated and corrected by me               Pronounced on this    8th.   Day of    April  2021.

 

                                                Member.                                                             President