Prem Singh VS Max New York Life Insurance Co. Ltd.

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

J. RAJENDRA
Prem Singh – Appellant
Versus
Max New York Life Insurance Co. Ltd. – Respondent

Counsel for the Parties:
For the Appellant:Mr. Pawan Kumar Ray and Mr. Samarth Agrawal, Advocates
For the Respondents:Mr. Rajnish Ranjan, Advocate

ORDER

The Appellant filed the instant Appeal under section 19 of the Consumer Protection Act, 1986, (“the Act”), against the Order dated 14.05.2018 passed by the learned State Consumer Disputes Redressal Commission, Bench No.3, Jaipur, Rajasthan. (“State Commission”) in Consumer Complaint No.98 of 2015, wherein the State Commission dismissed the Complaint.

2. For convenience, the parties in the present matter are being referred to as per position held in the Consumer Complaint.

3. Brief facts of the case, as per the Complainant, are that he is a retired employee and he was approached by Manager of OP Company at his residence and represented that their company operated like a bank and offered Fixed Deposits (FD) that would double in 5-6 years. The Manager of the Local (Regional) Branch assured him that the amount would remain safe and suggested appointing a family member as an authorized agent for further security. He agreed and appointed his daughter-in-law as the agent. However, without explaining the agent’s role or product, the OP took Rs.18,00,000 from him, obtained his signature on a blank form. Subsequently, OP-1 sent a policy form for FD and a cover letter, which revealed th

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J. RAJENDRAPrem Singh – AppellantVersusMax New York Life Insurance Co. Ltd. – Respondent

Cases Referred (3)

Related Judgments