This Revision Petition, under Section 21(b) of the Consumer Protection Act, 1986 (for short “the Act”) has been filed by the Petitioner against the order dated 16.03.2016 of the State Consumer Disputes Redressal Forum, Andaman & Nicobar Islands, Port Blair (for short “the State Commission”) in Appeal No.5 of 2015 filed against the order of the District Consumer Disputes Redressal Forum, Port Blair (for short “the District Forum”) dated 29.04.2015 in Complaint No.3 of 2013.

2. The brief facts of the case are that the Complainant took two loans (Account No.1400300002288 and 1400300001618) for ?60,000/- each from the Respondent. Against the said loan amounts, he had mortgaged his two LIC policies being No.465241406 and 465241407. As per the terms of the loan agreement, he was required to deposit the EMIs regularly which he failed to deposit since 2009.

3. The contention of the Complainant/Petitioner was that on 24.11.2012 at the time when he tried to deposit the premium of the LIC policies, he learnt that those policies were surrendered by the Respondent and the value was remitted to UBI. He challenged the said act of the Respondent since it had been done by the Respondent