ORDER

S.P. Tavade, President—The complainant has filed this complaint under the provisions of Consumer Protection Act.

2. It is contended that the complainant was employee of Raymond India Ltd., in the year 2014. He had booked flat and he wanted housing loan. Accordingly he approached HDFC Ltd. and applied for loan. The representative of the HDFC Bank checked and verified income credentials of the complainant as well as he carried out the valuation of the booked flat and sanctioned housing loan of Rs.50,91,080/- on 26/12/2014 with condition to repay within 17 years.

3. It is contended that while processing housing loan formalities the various Agents of the HDFC Bank, namely Mr. Nandlal Patil – Sales Executive and Nilesh Dhuri - Sales Manager, explained the complainant about ‘Home Suraksha Plus Policy’. Complainant was reluctant to buy the said policy, but, the representative of the HDFC Bank told complainant that if he buys the policy, housing loan will be sanctioned immediately and premium amount will be adjusted in loan amount. The complainant came under pressure and agreed to buy the said policy against the payment of one time single premium of Rs.3,91,080/- covering following r