IN THE DELHI STATE CONSUMER DISPUTES REDRESSAL COMMISSION Date of Institution: 07.02.2025 Date of hearing: 11.11.2025 Date of Decision: 21.01.2026 FIRST APPEAL NO.- 116/2025 IN THE MATTER OF BISWANATH AGRRAWALLA, 217, BABAFARIDPURI, WEST PATEL NAGAR, NEW DELHI – 110008. …Appellant in person VERSUS

1. CHAIRMAN, MAX LIFE INSURANCE CO. LTD.

MAX HOUSE, 1 DR. JHA MARG, NEW DELHI – 110020.

2. CHIEF EXECUTIVE OFFICER, MAX LIFE INSURANCE CO .LTD.

UGF, HIMALAYA HOUSE, 23, K.G. MARG, CONNAUGHT PLACE, NEW DELHI – 110001.

(Through: Legal Knights, Law Firm)

…Respondent CORAM:

HON’BLE JUSTICE SANGITA DHINGRA SEHGAL (PRESIDENT)

HON’BLE BIMLA KUMARI, MEMBER (FEMALE)

Present: Appellant in person (he himself is a practicing counsel) .

Ms. Anushka Dayal, Counsel for the Respondent No. 1 & 2 (Email : anushkalegalknights@gmail.com) appeared through VC PER: HON’BLE JUSTICE SANGITA DHINGRA SEHGAL, PRESIDENT

JUDGMENT

1. The facts of the case as per the District Commission record are as under:

“1. The present complaint has been filed under section 35 of the Consumer Protection Act, 2019 (in short CP Act-2019) against Opposite Parties (in short OP's) alleging deficiency of services.

2. Briefly stated the facts of the case are that the complainant had taken a policy of unit linked insurance plan (ULIP) No.623172343 of Max Life Insurance Co. Ltd for insurance cover of Rs 2 lac on 29.6.2009 @ premium of Rs20.000/- payable on 7th July annually and the Complainant used to deposit Premium of Rs.20,000/-

annually through Cheque at the office of Opposite Party No. 2.

3. It is stated that a premium of Rs.20,000/- was deposited by the complainant for 11 years totaling of Rs 2,20,000/- at the office of Opposite Party no.2 from 2009 to 2019.And on 22nd July, 2020, the complainant surrendered his original policy bond at the office of Opposite Party no. 2 & there after the Opposite Party transferred Rs.27,842.84 paise to the complainant's bank a/o as unit fund value where as Guaranteed Loyalty was not paid to the complainant.

4. It is stated that the Opposite Party through mail dated 3.3.2022 has refused to pay Guaranteed Loyalty although Ist premium for Rs.20,000/- paid by complainant on 7th July, 2009 was reserved specifically by Opposite Party towards payment of guaranteed Loyalty to the complainant.

It is submitted that the Complainant through mail dated 1.9.2022 informed that non-payment of Guaranteed Loyalty to the complainant is illegal & the complainant has no alternative but to approach District Consumer Forum for recover of his 1st Premium for Rs.20,000/-reserved by the Opposite Party towards payment of Guaranteed Loyalty. And the Opposite Party through mail dated 1.9.2022 further informed that Guaranteed Loyalty Addition is not payable.

6. The Complainant submits that when the policy was taken, the Company's name was Max New York Life Insurance Co. Ltd& it's name was changed from time to time.

7. The Complainant states that the first premium for Rs.20,000/-was paid on 7th July, 20009 to the Company & Premium receipt was issued to the complainant where in it has been mentioned that "The first year annual premium will be used to provide Guaranteed Loyalty Additions and will not be allocated to the Investment funds". The Complainant submits that Rs 20,000/- is his money& it is not Opposite Party's money.

8. The Complainant further submits that the complainant has paid total premium of Rs.2,20,000/- for 11 years to the Opposite Party company and in return the complainant has received Rs. 1,79,094- 16 paise as partial withdrawal&Rs.27,842-84 paise as surrender value totaling of Rs 2,06,937/-from the Opposite Party company.

9. It is stated that Non- Payment of Guaranteed Loyalty Addition by the Opposite Party is illegal, contrary to law, arbitrary, Unfair &

deficiency in service by Opposite Party.

10. It is prayed that to direct the OP Addition Guaranteed Loyalty for Rs.20,000/- be paid by Opposite Party along with interest@10%per annum from 7th July, 2009 till date totaling of Rs.6