During the course of arguments it has come to the notice of this Forum that complainant has purchased unit linked policy from the opposite party in which it has been categorically mentioned in Ex.C-10 that the policy will have market linked return. As such the complainant has invested his amount in order to earn profit in the form of shares in the open market I.e. to get speculative gain, as such this Forum has no jurisdiction to try and decide the present complaint as the complainant does not fall in the definition of consumer as defined in section 2(1)(d)(ii) of the Consumer Protection Act. It has been held by Hon’ble National Commission, New Delhi in case Ram Lal Aggarwalla Vs. Bajaj Allianz Life Insurance Co.Ltd and another in Revision Petition No. 658 of 2012 titled as Ram Lal Aggarwalla Vs. Bajaj Allianz Life Insurance Company Limited and Others decided on 23.04.2013 that where the investment made by the petitioner/complainant in Unit Linked Insurance Policies to gain profit, it was invested for commercial purposes and therefore, the petitioner/complainant is not a 'consumer' of the opposite party. Hon'ble State Commission, Orisha in First Appeal No. 162 of 2010 in case Smt.Abanti Kumari Sahoo Vs. Bajaj Allianz Life Insurance Company Limited has held that the money of the petitioner/complainant invested in the share market is no doubt a speculative gain and the speculative investment matter does not come under the Consumer Protection Act and accordingly, the Hon'ble State Commission, dismissed the appeal.

Therefore it is ordered that complaint be returned to the complainant with liberty to file the case before the appropriate court/authority/Forum.