Complaint filed on: 01-06-2021
Disposed on: 11-02-2022
BEFORE THE DISTRICT CONSUMER DISPUTES
REDRESSAL COMMISSION, TUMAKURU
CC.No.47/2021
DATED THIS THE 11th DAY OF FEBRUARY, 2022
PRESENT
SRI.KUMARA.N, B.Sc., LLB., PRESIDENT (I/c)
SMT.NIVEDITA RAVISH, B.A., LLB., LADY MEMBER
Complainant: -
T.G.Suresh, Advocate,
Aged about 61 years,
Resident of No.62,
G F Northern Extn,
Basavannanapalya,
Kalidasa Nagar,
Near Sira gate,
Tumkur-572106
(By Sri.T.G.Suresh, Advocate)
V/s
Opposite party:-
The Chief Manager,
State Bank of India,
Sira Gate Branch,
Tumkur-6
(By Sri.Mohamed Afroze Ahamed, Advocate)
ORDER
SRI.KUMARA.N, PRESIDENT (I/c)
The complainant has filed this consumer complaint against the OP and prays to direct the OP to pay Rs.50,000-00 along with interest @ 24% p.a., Rs.10,000-00 towards compensation and harassment and Rs.5,000-00 towards cost.
2. The brief facts of the complainant case is that, he is one of the SB account holder of the OP bank and doing banking transaction at Sira gate branch and he is also having FD bond in the said bank. On 28-2-2020 he approached the OP bank for housing loan of Rs.10,00,000-00. The manager of the OP bank visited the premises for inspection and he has submitted all the required documents to the OP. During the process of the said loan the OP explained about the SBI life insurance and forcibly asked him to take SBI life Insurance policy. The OP has also insisted it is compulsory for housing loan borrowers to take insurance then only the OP recommend the loan and accepted for insurance policy subjected to disbursement of the housing loan. After few days, he received a courier of the SBI insurance policy bond addressed to him premium of Rs.50,000-00 on the receipt of the said policy bond and he rushed to the OP bank and enquired with the manager about the housing loan and explained that he has received SBI policy and checking SB account pass book showing the debited Rs.50,000-00 without his knowledge. The OP assured that the loan will be sanctioned within few days and after laps of so many months the OP rejected the housing loan application with the reason that the building is more than 70 years old and value of the building is nil and he has burden of Rs.50,000-00 and incurred a loss due to the negligent of the OP bank and there is deficiency of service on the part of the OP. On 3-5-2021 he has received SBI insurance bond and the OP has debited by using debit voucher without prior intimation hence, the complaint is in time.
3. The OP has appeared through its learned counsel and filed version contending that, the complaint is not maintainable and there is not cause of action to file this complaint and there is no deficiency of service. The OP has admitted the facts of complaint with respect to customer of the OP bank and so also admitted para 3 and 4 about approaching the loan and submitting of all the documents to the OP and denied the para 5 to 13 as false and baseless and created story and filed the false complaint is put to strict proof of the said averments. The complainant is specifically contended that as per the report of the engineer the complainant’s housing building is more than 70 years old and the value of the building is zero and housing loan has been rejected. The complainant approached the OP bank and enquired with the bank manager about other products of the bank which will be useful to the complainant and as per the request of complainant the OP bank explained about deposits, advances and other financial investment plans. On 18-5-2020 the branch manager introduced, SBI Life insurance BDM to the complainant and after discussion with the BDM will the information and benefits the complainant has chosen SBI life retirement policy. The complainant is having FD with the OP bank and requested the manager of OP bank for investment of SBI insurance policy that he has interested in SBI life insurance and requested the bank manager to transfer the premium from his FD amount and the complainant explained that he has not brought the cheque book to pay the insurance premium and requested the OP bank to transfer the amount through debit voucher from the FD account. In spite of the OP bank prepared the transfer voucher and for the same the complainant singed on 18-5-2020 agreeing to debit a sum of Rs.50,000-00 from the FD account to the insurance premium. Before investing in insurance policy the bank has clearly advised the complainant that it is not mandatory to take insurance policy for availing housing loan. The complainant is a practicing advocate and well aware of the law and norms of the bank after confirmation from the complainant the insurance policy has been issued under the name and style of Retirement benefit policy (only premium plan) and it is lock in period of five years and on the expiry of five years the complainant will bet the balance amount along with interest as per the norms of policy, the policy could not be cancelled and amount cannot be refundable and pray to dismiss the complaint.
4. The complainant has filed affidavit by way of examination in chief and produced the four documents as per Ex.P1 to P4. The branch manager of OP bank has filed affidavit by way of examination in chief.
5. The learned counsel for complainant has also filed written arguments.
6. Heard the arguments of complainant
7. Now the points that do arise for our consideration are that:
- Whether the complaint filed by the
complainant is maintainable as per Consumer Protection Act, 2019?
- Whether the complainant is entitle for
relief as prayed by them?
- What order?
8. Our findings to the above points are that:
Point Nos.1 and 2: In the Negative
Point No.3: As per final order for the following;
REASONS
9. Point Nos.1 and 2: These points are taken up together for discussion to avoid repetition of facts and reasonings. It is an admitted fact that, the complainant is a SB Account holder of the OP bank and he is making transaction. The question before this Commission is that, the OP has free fully taken up the SBI insurance policy of premium of Rs.50,000-00 per annum though the complainant has not agreed for the same. But in this regard the OP in its version has clearly and categorically stated that, the complainant has approached the OP Bank and enquired with the Bank Manager about other products of the bank which will be useful to the complainant and as per the request of the complainant the bank explained about deposit and other financial investment plans to the complainant and explained each product. Accordingly on 18-05-2020 the Branch Manager has introduced the SBI Life Insurance Business Development Manager (hereinafter called as BDM) to the complainant and after discussion with the BDM with all the information and benefits of said policy, the complainant has chosen SBI Life Retirement Policy and further contended that the complainant having the fixed deposit in the OP bank, that day i.e. 18-5-2020 the complainant as he has not brought the cheque book to pay the insurance premium. The complainant has requested the OP Bank to transfer the amount towards said policy to SBI life through debit voucher and for the same the complainant has signed on 18-05-2020 and premium amount of Rs.50,000-00 transferred from the FD. The OP Bank has clearly stated the complainant that not mandatory to take the insurance policy for availing housing loan. The OP Bank has also contended that the complainant is a practicing advocate and well aware of the law and norms of the Bank, only after conformation from the complainant the insurance policy has been issued under the name and style of “Retirement Benefit Policy” (Annuity Plan) with lock in period of 5 years and the complainant will get the balance amount along with interest as per the norms of the policy. The OP further submitted that the policy could not be cancelled and amount cannot be refundable. The above said material facts are not at all denied by the complainant in chief examination.
10. Further it is relevant to stated that on perusal of the SBI Life Insurance Policy bearing no.1H791676706 dated 6-1-2020 which was produced by the complainant on 30-12-2021 proves that policy is in the name of Mr.T.G.Suresh, complainant first premium of Rs.50,000-00 transferred, nominee is Mrs.H.S.Usharani, aged 50 years who is wife of complainant and key personal information provided in page no.51 to 59 of policy documents wherein which were given by the complainant and existence complainant photo and signature of complainant reveals that the complainant himself voluntarily taken said policy.
Further the said policy where is relevant about the “free look option”. The complainant has not as utilize the said free look option and now it is not for the complainant and to withdraw the said amount. On perusal of Ex.P3 the Manager, SBI letter dated 16-10-2020 wherein at para 4 it reveals that, “You also availed overdraft facilities on our STDR through YONO APP. After choosing the insurance product and premium amount you also digitally signed the online insurance application and funded by debit to your account under your authentication”.
11. Hence, under these circumstances as discussed above the consumer complaint filed by the complainant has failed to make deficiency of service against the OP bank and it is not entitled for any relief as prayed by the complainant.
12. Further the complainant has also not made the SBI Life Insurance though the SBI Life Insurance is the necessary party and hence, the complainant has not made the necessary party. Hence we answer point nos.1 and 2 in the negative.
13. Point No.3: In view of our finding on point Nos.1 and 2 and the discussion made thereon, we proceed to pass the following;
ORDER
The complaint is dismissed without cost.
Send a copy of this order to both parties free of cost.
(Dictated to the Stenographer, got it transcribed, corrected and then pronounced in the Open Commission on this the 11th day of February, 2022).
LADY MEMBER PRESIDENT (I/c)
