Ld Advocate for the complainant is present. Judgement is pronounced in open Commission in 5 pages 3 separate sheet of paper.
BY - SRI ASISH DEB, PRESIDENT
Brief facts of the complainant’s case is that the complainant is a permanent inhabitant of above mentioned address and O.P. Finance Company is situated at above mentioned address within the jurisdiction of this Commission. The deceased Taraknath Maity, is son of Complainant who died on 22.08.2019. During his life time said Taraknath Maity purchased vehicle(XYLO) being registration no. WB-30S-4585, with financial assistance by O.P. financer, Complainant’s deceased son took the vehicle on hire purchase basis /loan from O.P. loan amount was Rs.2,50,000/-. The said Taraknath Maity purchased schedule vehicle executing all formalities of O.P. regarding terms and conditions of loan agreement. The Complainant’s deceased son was account holder of U.B.I. atchaitanyapur branch(now-PNB), A/C No.-1928010085603 and vehicle EMI transferred from said bank account to O.P. and son of the Complainant’s purchased life policy from H.D.F.C life insurance Co. Ltd, H.D.F.C life group credit Protect plus insurance plan (UNI: 101N096V02) being certificate no-pp0001510DYO800 in connection with Loan Agreement being no -XSHUHAL00002583940. As per advise of O.P. theComplainant’s deceased son purchased above mentioned insurance policy by paying proper premium of H.D.F.C Life Insurance, which base Sum assured of Rs.2,50,049/- After total no. of installment of loan premium amount was disbursed from U.B.I bank, Chaitanyapur branch, A/C No-1928010085603 on 05.11.2018 to 06 01.2020 installment amount of Rs.13528/- (each installment) deducted for sixteen times, so the total deducted amount of Rs. 2,16,448/- as EMI of loan.The Complainant is the father of deceased Taraknath Maity, unfortunately who died on 22.08.2019 due to an accident. The Complainant is the nominee of H.D.F.C life insurance Co. Ltd, H.D.F.C life group credit Protect plus insurance plan (UNI: 101N096V02) being certificate no-PP0001510DYO800. The O.P. adjusted EMI amount by deducting the amount of Rs. 1,65,350 from H.D.-F.C life policy of sum assured Rs. 2,50,049/-.The Complainant get from H.D.F.C life policy as the balance of claim amount was Rs. 84,699/- in his bank account. The O.P was deducted of Rs.1,65,350/- from H.D.F.C life policy and from the U.B.I. bank. O.P intentionally, willfully and deliberately excess amount deducted and O.P. is liable to return excess amount to the Complainant as Complainant is the nominee of the insurance policy. The O.P was deducted excess amount from the Complaint. O.P. intentionally, falsely, unlawfully, illegally deducted amount from son of the Complainant bank account and from insurance company, so the Complainant faced financial problem. After so many times the Complainant visited to O.Ps office but they are didn’t response and not taking any liability or positive step about this matter so the Complainant suffered financial and mental harassment loss. The Complainant visited to O.P for requested to refund claim amount through written application, but no fruitful result came out. After the Complainant several time request to O.P. he informed to the Complainantissued a cheque for the claim amount being the cheque no. 156057 valued of Rs.70,698.35/- dated on 09.04.2020 but no amount credited in account of the Complainant. Lastly O.P. informed the Complainantthat on 09.04.2020 he issued a cheque being no. 156057 of Rs-70,698.35/- and he supplied a statement to the Complainantand the Complainanttally with his bank account but no amount seen as credited from the OP. After on 25.03.2021 the Complainantvisited to O.P for requested to refund claim amount through written application, but no fruitful result came out. After day by day the Complainantrequest to O.P. but he didn’t response about this subject matter so the Complainantfeels lot of financial loss, agony and unnecessary harassment. Owing to said occurrence the Complainantfell inhardship and suffered a lot of mental and financial loss. The O.P. assured regarding adjustment of excess amount which was deducted by the Complainantbank account and verbally informed the Complainantthat he shallpass the order of refund /adjustment the excess amount to the Complainantbut in vain. The Complainantseveral time met with O.P. regarding refund the excess amount cheque which was received by O.P and provide statement of account but no fruitful result came out from O.P. For redressal of the grievance, the Complainantlodged a complaint before the Asst. Director of CA & FBP Purba Medinipur at Tamluk against O.P. Ld.CA & FBP Purba Medinipur at Tamluk approach to O.P. for solving the matter and called him over telephone and thereafter issued one notice to O.P. on 15.12.2021 for redressal of grievances. One date was fixed on 29.12.2021 for mediation regarding deficiency of service by O.P. at office of the Ld.CA & FBP Purba Medinipur at Tamluk. On that date O.P member intentionally didn’t come to said office and lastly CA & FBP suggested to the Complainantto lodge a complaint before Ld. Commission. The Complainantvisited with office of O.P. and after discussion with O.P. the O.P. promised to solve the matter within 20 days and the Complainantupdated his bank account on 20.01.2022 but didn’t get credited an amount from O.P. The Complainantcontinuously visited to O.P. and update his bank account but didn’t get any fruitful result. The Complainantsubmits that, the O.P. are not interested in settling genuine and legitimate claims, which has caused grave loss and untold hardship to the Complainantfor which O.Ps are responsible. The cause of action arose of this case on and from 09.04.2020 , 29.12.2021 and 20.01.2022 and continuously. In the aforesaid circumstances the Complainanthas been constrained to take the shelter of law. Under such circumstances the Complainant humbly prays for passing necessary order for refunding amount of Rs. 70,698.35/- with interest till final payment, for compensation of harassment, mental pain and agony etc. of Rs. 20,000/-, for litigation cost of Rs. 5000/-, for other reliefs as the complainant is entitled to get as per law and equity.
Notices were duly served upon the ops. However, these ops have preferred to see that the case be decided ex-parte against it.
Points for determination are:
1. Is the case maintainable in its present form and in law?
2. Is the Complainant entitled to the relief(s) as sought for?
Decision with reasons
Both the points, being inter related to each other, are taken up together for discussion for sake of brevity and convenience.
The bundle of facts of the case shows that the complainant is the nominee of member insured of HDFC Life Group Credit Protect Plus Insurance Plan. The complainant has alleged deficiency in service against both the ops; as such the case is maintainable in its present form and in law.
Now, on careful analysis and evaluation of the materials on record it appears that the complainant has alleged that the Complainant’s deceased son was account holder of U.B.I. at Chaitanyapur branch(now-PNB), A/C No.-1928010085603 and vehicle EMI transferred from said bank account to O.P. and son of the Complainant’s purchased life policy from H.D.F.C life insurance Co. Ltd, H.D.F.C life group credit Protect plus insurance plan (UNI: 101N096V02) being certificate no- pp0001510DYO800 in connection with Loan Agreement being no -XSHUHAL00002583940. As per advise of O.P. theComplainant’s deceased son purchased above mentioned insurance policy by paying proper premium of H.D.F.C Life Insurance, which base Sum assured of Rs.2,50,049/- After total no. of installment of loan premium amount was disbursed from U.B.I bank, Chaitanyapur branch, A/C No-1928010085603 on 05.11.2018 to 06 01.2020 installment amount of Rs.13528/- (each installment) deducted for sixteen times, so the total deducted amount of Rs. 2,16,448/- as EMI of loan. The Complainant is the father of deceased Taraknath Maity, unfortunately who died on 22.08.2019 due to an accident. The Complainant is the nominee of H.D.F.C life insurance Co. Ltd, H.D.F.C life group credit Protect plus insurance plan (UNI: 101N096V02) being certificate no-PP0001510DYO800. The O.P. adjusted EMI amount by deducting the amount of Rs. 1,65,350 from H.D.-F.C life policy of sum assured Rs. 2,50,049/-. The Complainant get from H.D.F.C life policy as the balance of claim amount was Rs. 84,699/- in his bank account. The O.Pdeducted Rs.1,65,350/- from H.D.F.C life policy and from the U.B.I. bank. O.P intentionally, willfully and deliberately deducted and O.P. is liable to return excess amount to the Complainant as Complainant is the nominee of the insurance policy.
It is evident from the copy of policy( Annexure-1) that Financed amount was 2,50,000/-. Tenure of instalment was-30. Instalment amount was 13,528/-. The complainant side paid 17 nos. instalments paid total amount being Rs.2,29,976/-.( Principal paid Rs.184395/- + Interest paid Rs. 45,581/-).Taraknath Maity, unfortunately who died on 22.08.2019 due to an accident. No information was given to the ops until the 17th instalment was adjusted. It was the duty of the complainant to submit in writing about the incident of the death of Taraknath Maity to the op-1 immediately, but he did not do so. Till the closure of account 13 nos, instalments were due to be paid ,all have been adjusted. The Complainant has not filed any details as to which date HDFC LIFE paid the insured amount to the op -1 Finance CO.; he has also not made the HDFE LIFE as a party in this case which is the best entity to clarify the whole state of affairs.
Now, let usanalysethe scheme of the policy in question,HDFC Life Group Credit Protect Plus Insurance Planis auniquely designed scheme which aims to provide to borrowers of a particular financial organization thereby ensuring that the demise or illness of a borrower does not impact the repayment of a loan , providing peace of mind to everyone involved. It is the tailor made plan to protect the families from the burden of outstanding loan repayment to the financial institution. This is a group insurance plan and the lending institution is called the Master Policy Holder ( MPH). The Loanee would be the insured member , he is provided with the copy of the policy only. In case of any unfortunate eventlike death nominee should contact the MPH or HDFC LIFE for intimation of the same with List of documents alongwith claim form needs to be submitted with the request. Thebenefit applicable would be paid by HDFC LIFE.Keeping in mind as to how the HDFC Life Group Credit Protect Plus Insurance Planworks, we find that being a group plan financial institute provides protection to its members through the HDFC Life Group Credit Protect Plus Insurance Plan and enrolls member in the same. After paying the single premium, he/she is protected for repayment tenor. Under this scheme, the master policy is held by the financial organization, with the member.Now , after some years of the the plan, Member meets with an accident and passes away. In this case, his insurance cover kicks in and her nominee will receive a death benefit, which can be used to clear the loan.In case nothing happens to Member, after the term period his policy will lapse. If Member chooses to prepay the loan then he can get a surrender benefit which is computed after taking multiple factors into account. So, in case of death of a member the families will get protection from the burden of outstanding loan repayment to the financial institution only. As it was observed that this Planis auniquely designed scheme which aims to provide to borrowers of a particular financial organization thereby ensuring that the demise or illness of a borrower does not impact the repayment of a loan , providing peace of mind to everyone involved. Master policy holder means or refers to the company/policy holders stated in the policy schedule. The master policy holder is the owner of the master Policy. The group member /insured is only designed to the benefit of adjustment of outstanding dues by the insurer to the financial institution , the owner of the policy.The op financial institute has adjusted all the outstanding relating to the loan within the intimation period being the ultimate beneficiary as a Master Policy Holder. The Loan account has been closed. The complainant is not entitled to get any amount from the sum assured; the sum assured is guaranteed against the borrowed amount or outstanding loan amount in case of untimely death of the insured member against the single premium group insurance policy. The claim of the Complainant is misconceived. The complainant has failed to bring home the elements of deficiency of service against the ops. The complainant is not entitled to get any relief in this case.
Both the points are decided accordingly.
The complaint case does not succeed.
Hence, it is
O R D E R E D
That the CC/112 of 2023 be and the same is dismissedex-parte against the OPs-1 and 2. No order as to costs is passed.
Let a copy of the judgment be supplied to the complainant free of cost.
