ORDER

Justice V.K. Jain (Oral)—The complainant/petitioner purchased two policies from the respondent one for Rs. 3,50,000/- and the other for Rs. 35,000/-. In respect of the policy of Rs. 3,50,000/-, the petitioner was required to pay the second instalment of premium in March 2013. He however did not pay the said premium. In the second policy taken by the complainant/petitioner, he was required to pay Rs. 35,000/- per year for 7 years.

2. The complainant/petitioner approached the District Forum with a complaint alleging therein that in March 2013 when he could not deposit the second instalment of Rs. 3,50,000/-, a person claiming to be the agent of the insurer took Rs. 35,000/- from him and gave a personal code with an assurance/inducement to make the amount of Rs. 3,50,000/- onetime payment and he was made to talk to a lady, who claimed to be an officer of IRDA and who assured him that on 29.05.2013 a sum of Rs. 26,000/- will be transferred to his account. Further, when he visited the IRDA, he was told that there was no such person working with them. When he went to Branch Office of the insurer, he was told that the second instalment of Rs. 3,50,000/- was due with late fee of Rs. 24