ORDER

V.B. Gupta, (P.M) - Petitioner/Opposite Party has preferred this revision against impugned order dated 24.2.2014, passed by State Consumer Disputes Redressal Commission, Maharashtra, Mumbai (for short, 'State Commission') in First Appeal No.31 of 2013.

2. Brief facts are, that Respondent/Complainant got sanctioned housing loan of Rs.10 lacs in August, 2002 on certain terms and conditions and EMI of Rs.11,370/- was deducted from his Saving Bank Account from the next month i.e. from September, 2002. Undisputedly, amount of E.M.I. includes the premium for availing insurance policy to provide insurance cover to the mortgaged property and personal accident cover to the borrowers viz. respondent and his wife. However, respondent's wife was murdered on 01.10.2002. Though, loan was released in August, 2002 and E.M.I. was effectively deducted from the month of September, 2002 (which includes payment of premium for the policy), the petitioner bank failed to avail the policy in month of September,2002. The one time premium as provided for in the agreement amounting to Rs. 6,315/- was paid on 05.10.2002 to United India Insurance Co. by respondent to avail the policy. Though policy was iss