DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION (EAST)
GOVT. OF NCT OF DELHI
CONVENIENT SHOPPING CENTRE, FIRST FLOOR,
SAINI ENCLAVE, DELHI – 110 092
C.C. No. 193/2024
| SUBHASH VOHRA S/O LATE SHRI SOHAN LAL VOHRA R/O X-213, LAXMI HOSIERY CORNER, RAM NAGAR, GANDHI NAGAR, DELHI -110031 | ….Complainant |
Versus |
| ADITYA BIRLA SUN LIFE INSURANCE CO. LTD. (THROUGH ITS BRANCH MANAGER) K-2, 1ST FLOOR, SOMDUTT TOWER, NOIDA SECTOR 18, NOIDA 201301 ALSO AT:- G-CORP. PARK, 6TH FLOOR, GHODBUNDE ROAD, KASAR VADAVALI, THANE (W) – 400601, REGD. OFFICE AT:- ONE WORLD CENTRE, TOWER-1, 16TH FLOOR, JUPITER MILL COMPOUND, 841, SENAPATI BAPAT MARG, ELPHINSTONE, MUMBAI-0400013 | ……OP |
Date of Institution | : | 27.04.2024 |
Judgment Reserved on | : | 22.07.2024 |
Judgment Passed on | : | 22.07.2024 |
QUORUM:
Sh. S.S. Malhotra | (President) |
Sh. Ravi Kumar | (Member) |
Order By: Shri S.S. Malhotra (President)
ORDER
Present : Sh. Nilesh Arya Proxy for Sh. Chirag Vohra Counsel for complainant
He files an application under section 38(2) seeking permission to file policy documents on record. The Commission on the last date of hearing ordered the complainant to file the terms and conditions of the policy and this application is in compliance of the order of the last date of hearing. OP still has not been ordered to be summoned, therefore application seeking permission to file additional documents is allowed. Copy of the insurance policy taken on record.
Heard on merits and terms and conditions of the policy perused. It is inter alia the case of the complainant that he obtained Green Plan Policy from OP which was duly issued on 26.12.2009. On 08.01.2024, he checked the surrender value of the aforesaid policy which was Rs.11,76,105.37/- and accordingly he visited the office of OP to surrender the said policy which also showed the surrender value of Rs.11,76,105.37/- that day but the complainant actually received an amount of Rs.11,73,988.09/- which is less than the surrender value on the date 08.01.2024 and is short of Rs.2,177.28/- and thereafter he requested the OP to pay the balance amount to the complainant which was not paid and ultimately he sent a legal notice on 30.03.2024 to the OP which was not complied with and as such he has filed the present complaint case seeking direction to the OP to pay Rs.2,177.28/- along with interest @ 24% p.a. and compensation of Rs.50,000/-.
The Commission has heard the arguments and perused the record.
Admittedly, the policy of the complainant is ULIP Policy where the surrender value increases or decreases on day to day basis. The complainant himself has filed a document dated 19.02.2024 which shows that the surrender value on that date was Rs.1173924.71/- which he has received. The gist of the fact is that if the surrender value on 08.01.2024 was Rs.1176105.37/- then it may be Rs.1173924.71/- on 19.02.2024 or even it may be much more than Rs.1176105.37/- or even may be less than Rs.1173924.71/-. It is not the case of the complainant that there is any deficiency w.r.t. the calculation of the surrender value. The surrender value, as per record filed by the complainant has already been given to the complainant and since it is a ULIP policy where the surrender value increases or decreases subject to Market fluctuations there appears to be no deficiency on the part of OP in providing any services to the complainant. The Complaint therefore does not disclose any cause of action against the OP in providing its services. The value of the policy on the date of surrendering has already been given to the complainant.
Therefore, the present complaint case is rejected forthwith.
Copy of the order be supplied / sent to the parties free of cost as per rules.
File be consigned to Record Room.
Announced on 22.07.2024.
