Nagesh.C.Kumbre, Hon’ble Member J U D G M E N T Per Milind S.Sonawane, Hon’ble Presiding Member.

This is an appeal challenging the correctness and legality of the judgment and order passed by the ld. District Consumer Disputes Redressal Commission, Aurangabad (the ‘District Commission’ for short) in C.C.No.253/2021, whereby the District Commission dismissed the complaint filed by the appellant.

2. The facts giving rise to this appeal are that, the appellant was a need of personal loan of Rs.1,30,000/- . Therefore in 2018 he approached respondent no.2, who sanctioned that loan to him. However, the officials of respondent no.2 told him that, so as to get the personal loan it is mandatory to take insurance policy. As such, on 01/03/2018 he took the insurance policy from respondent no.1. The policy was for the period of 40 years. The premium of which ‘model premium’ of Rs.24,540/- per year. He paid three premiums to respondent no.1. He was under the impression that, he will get the premium amount back after the repayment of the personal loan. However, when he repaid the personal loan and demanded back the premium amount deposited by him which was around Rs.74,159/- , respondent no.1 off