Dr. B.C. Gupta, Presiding Member—This revision petition has been filed under section 21(b) of the Consumer Protection Act, 1986 against the impugned order dated 15.04.2013, passed by the U.T. State Consumer Disputes Redressal Commission Chandigarh (hereinafter referred to as ‘the State Commission’) in First Appeal No. 38/2013, “M/s. Kotak Mahindra Old Mutual Life Insurance Ltd. vs. Dr. Nishi Gupta”, vide which, the order dated 04.12.2012, passed by the District Consumer Disputes Redressal Forum, Chandigarh in consumer complaint No. 542/2012, allowing the said complaint, was partly modified.

2. Briefly stated, the facts of the case are that the respondent/complainant Dr. Nishi Gupta obtained Kotak Small Advantage Policy from the petitioner/opposite party (OP) by paying a premium of Rs. 50,000/-, vide cheque dated 15.03.2008; the said policy was received by her on 19.03.2008. After a lapse of three years, the complainant received a letter dated 23.03.2011 from the OPs informing her about the termination of the policy on the ground that the policy contract had not been revived within a period of three years, as stipulated vide circular no. 032/IRDA/ACT-1/Dec.2005 dated 21.12.200