Mr. Kumar Gowda, Member—This is a complaint under Section 17 of the Consumer Protection Act, 1986. The claim of the complainant is that he had obtained a loan availing over- draft facility upto a sum of Rs. 15,000/- with opposite party No. 1-Canara Bank under loan account No. VSL. 136/91. As a security for the due payment of the loan, the complainant had pledged four L.I.C. policies with the 1st opposite party-Bank. The policies given in security were as follows:

S. No. Policy No. Sum assured.

1. 61175288 Rs. 10,000/-

2. 64292132 Rs. 10,000/-

3. 73986701 Rs. 25,000/

4. 73986702 Rs. 25,000/-

Total S.A. Rs. 70,000/-

The sum assured under the above policies was a total sum of Rs. 70,000/- and on maturity the complainant would have received more than Rs. 1,50,000/ - by way of bonus and other benefits declared by the 2nd opposite party-The Life Insurance Corporation of India. On 26.2.92, the 1st opposite party wrote a letter to the complainant that he was due in a sum of Rs. 12,159/- out of which Rs. 6,394/- was over due. The 1st opposite party-Bank in a high-handed manner and without affording an opportunity to the complainant has surrendered all the four L.I.C. policies, which was unnec