BEFORE THE TELANGANA STATE CONSUMER DISPUTES REDRESSAL COMMISSION : HYDERABAD.

FA.NO.741 OF 2021 AGAINST ORDERS IN CC.NO.214 OF 2019, DISTRICT CONSUMER COMMISSION-I, HYDERABAD Between:

Dr.Mohan Gupta, S/o.Late Mr.Gyan Chand Gupta, Aged about 64 years, Occupation: Medical Practitioner, R/o.II Floor, 5-4-183 to 199, Twin City Market Complex, Mozam Jahi Market, Hyderabad – 500 001.

Rep. by his GPA, Mr.Varun Gupta, S/o.Dr.Mohan Gupta, Aged about 26 years, Occupation: Business, R/o.II Floor, 5-4-183 to 199, Twin City Market Complex, Mozam Jahi Market, Hyderabad – 500 001.

..…Appellant/Complainant And

1. Bajaj Allianz Life Insurance Company Ltd., Having its Head Office at: Bajaj Allianz House, GE Plaza, Airport Road, Yerawada, Pune – 411 006 Rep. by its Manager.

2. Bajaj Allianz Life Insurance Company Ltd., Having its Branch office at North East Plaza, 3rd Floor, Erramanzil Khairatabad, Hyderabad – 500 004.

Rep. by its Manager.

…..Respondents/Opp.Parties Counsel for the Appellant/Complainant : M/s. Dalia Pasaari Counsel for the Respondents/Opp.Parties : M/s. Gangadhar Rao Deshpande QUORAM:

HON’BLE SMT.MEENA RAMANATHAN…IN-CHARGE PRESIDENT &

HON’BLE SRI V.V.SESHUBABU, MEMBER-JUDICIAL WEDNESDAY, THE SECOND DAY OF APRIL TWO THOUSAND TWENTY FIVE *******

Order : (Per Smt.Meena Ramanathan, Hon’ble In-charge President)

1. This appeal is filed by the Appellant/Complainant under Section 41 of Consumer Protection Act, 2019, praying this Commission to set aside the impugned order under appeal, i.e., order dated 22.09.2021, passed by the District Consumer Disputes Redressal Forum, Hyderabad-I, in the matter of CC.No.214 of 2019; to award costs of the application and pass such orders/s or direction/s as this Commission deems fit and proper in the circumstances of the case and in the best interest of justice &

equity.

2. For the sake of convenience, the parties are described as arrayed in the complaint. The Appellant is the Complainant and the Respondents are the Opposite Parties in CC.No.214/2019.

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3. Briefly stated, the facts are that – the Complainant obtained a Life Insurance Policy from the Opposite Parties vide policy No.0051902856 on 20.06.2007 for a sum insured of Rs.30,00,000/-. At the time of obtaining the policy it was assured by the agent of the Opposite Parties that the policy was Capital Linked Plan and premium payable for the said policy @ Rs.1,00,000/- per year for a continuous term of only three years i.e., in 3 instalments and after that the policy would be self- financed from the interests generated out of the principal amount. It is submitted that the Complainant paid premiums for three years, i.e., 2007, 2008 and 2009 without any default.

4. It is further submitted that on 24.02.2018 to the utter shock and surprise of the Complainant, the Opposite Parties intimated him about the termination of the said policy through a letter on the grounds of “non-payment of regular premium during the revival period of two/three years from the date of the last unpaid premium”. Along with the said letter, a cheque bearing No.303520 for a sum of Rs.79,655/- drawn on Axis Bank was enclosed as the surrender amount in lieu of the said policy. Upon issuance of legal notice, the Opposite Parties issued another cheque dated 30.03.2019 vide cheque No.865506 for a sum of Rs.85,313/- towards “Unclaimed”. This action of the Opposite Parties is arbitrary, uninformed, incorrect, unprofessional and vehemently objectionable and amounts to deficiency of service. They left the Complainant completely unprotected at this age despite being covered under a valid life insurance policy.

5. Hence, being aggrieved by the action of the Opposite Parties, the Complainant filed the complaint with a prayer to refund the premiums paid by the Complainant on the said Policy No.0051902856 dated 20.06.2007 amounting to Rs.3,00,000/- along with interest at the rate of 24% p.a. from the date of termination of the policy till the date of realization of the said amount; damages amounting to Rs.1,