STATE CONSUMER DISPUTES REDRESSAL COMMISSION, PUNJAB, CHANDIGARH.

Date of institution : 29.10.2021 Date of decision : 18.05.2022 ICICI Prudential Life Insurance Company Limited, The Concerned Officer, near Abny Building Mall Road, Amritsar.

….Appellant/Opposite Party Versus Balwinder Kaur wife of Sh. Jagir Singh, resident of House No.150, V.P.O. Jeobala, Tehsil & District Tarn Taran.

…..Respondent/Complainant Appeal under Section 41 of the Consumer Protection Act, 2019 against the order dated 26.08.2021 passed by the District Consumer Disputes Redressal Commission, Tarn Taran.

Quorum:-

Hon’ble Mrs. Justice Daya Chaudhary, President Mr. Rajinder Kumar Goyal, Member

1) Whether Reporters of the Newspapers may be allowed to see the Judgment? Yes/No

2) To be referred to the Reporters or not? Yes/No 3) Whether judgment should be reported in the Digest? Yes/No Argued by:-

For the appellant : Sh. K.S. Cheema, Advocate For the respondent : None ……………………………………………………………………….

JUSTICE DAYA CHAUDHARY, PRESIDENT The appellant-opposite party i.e. ICICI Prudential Life Insurance Company Limited has filed the present appeal under Section 41 of the Consumer Protection Act, 2019 (in short the ‘Act’) to challenge the impugned order dated 26.08.2021 passed in Consumer Complaint No.40/2018 by the District Consumer Disputes Redressal Commission, Tarn Taran (in short the “District Commission”), whereby the complaint filed by the complainant was partly accepted against opposite party (hereinafter referred as ‘OP’).

2. Briefly the facts of the case as made out in the complaint by respondent/complainant are that husband of the complainant sold some land and she deposited the amount for fixed period in ICICI Bank, opposite SDM Office, Tarn Taran. The Bank officials advised her to deposit the amount in the policy and it would be doubled within a period of 5 years. Accordingly, she purchased ICICI Pru Guaranteed Savings Insurance Plan UIN 105N114V02 for an amount of Rs.97,000/- dated 19.10.2013 from OP. The appellant/OP issued policy No.17094634 in favour of the complainant. The policy was to be matured within a period of 5 years. On the expiry of maturity date of the policy, the complainant approached concerned branch office of OP for payment of the amount on a number of occasions but no payment was released and she was having no option except to file complaint. The complainant prayed in the complaint to pay Rs.2,00,000/- the double of the deposited amount of Rs.1,00,000/- and also to pay Rs.70,000/- as compensation.

3. Said complaint was contested by the appellant/OP by raising a preliminary objection that the complaint was barred by limitation in view of Section 24-A of the Act. The policy was issued in the year 2012 and the complaint was filed in the year 2018 which was after a period of 6 years. Certain other objections were also raised on merits as well. The complaint was also contested on terms and conditions of the policy.

4. On appreciation of the contents of the complaint as well as reply filed by the OP, the complaint was partly allowed and OP was directed to refund the amount with interest and also awarded Rs.3000/- as compensation on account of harassment and mental agony and Rs.2500/- as litigation expenses. Said order was to be complied within a period of 1 month from the date of receipt of copy of the order failing which the complainant was held entitled for interest @9% per annum on the awarded amount from the date of complaint till its realization.

5. Said order dated 26.08.2021 passed by the District Commission in the complaint filed by the complainant has been challenged by the appellant/OP by raising a number of arguments.

6. There was delay of 17 days in filing of the appeal. M.A. No.1219 of 2021 was filed which was supported by an affidavit. The delay in filing the appeal was condoned vide order dated 03.11.2021.

M.A. 1219 of 2021 was disposed of accordingly.

7. Learned counsel for the appellant submits that the appellant Company received the Propo