The complainant Naresh Kumar Shah, S/O Shri Ram Narayan Shah, Resident of Village–Shanti Puri Murhu, P.S – Murhu, District- Khunti, Jharkhand has filed a consumer complaint against the opposite party. The opposite party is the manager State Bank of India Murhu.
The complainant contended that he has a life Insurance bearing Policy no. 555340498 assigned in favour of state bank of india Murhu. Complainant has taken 3 lakhs loan on 13/08/2013 from state bank of india murhu and on 04/05/2018 the complainant has submitted all loan amount with interest. The loan account no. is 33195684822. On 02/06/2018.The bank manager has given no dues loan clearance certificate. While the complainant was taking loan the bank has kept his L.I.C, certificate as security. The maturity amount of L.I.C is 350000/-(Three lakh fifty thousand rupees). After paying the whole loan amount the complainant demanded his L.I.C certificate from the manager state bank of india. The bank is not returning his L.I.C certificate. On 09/10/2022 an accident took place in which the leg of complainant fractured. After fracture complainant demanded his L.I.C maturity amount but bank neither help him nor paid any amount. Again on 11/12/2023 complainant got another fracture in his leg in this time also on the demand of money. The bank does not paid any amount. Complainant has further contended that the manager has said that if you will deposit one thousand rupees in returning deposit then I will make available L.I.C policy bond for you. The complainant has two another deposite they are STDR and PPF account. On STDR he has deposited 98000/-(Ninety eight thousand rupees) and 122593/- rupees on PPF account. The bank has told earlier that complainant cannot withdraw money from STDR and PPF during locking period. On several demands the bank manager is not refunding his L.IC bond and L.I.C maturity amount that is 350000/-(Three lakhs fifty thousand rupees). Due to non refund of money the complainant has to suffer financial and mental harassment.
The claimed value is 5 Lakhs Rupees as relief and compensation amount.
The cause of action arises on 04/05/2018 Complainant filed his case on 26/07/2022. The case was admitted on 02/08/2022. Notice issued on 02/08/2022. The case is admitted within the limitation period.
On repeated notice, the opposite party has not appeared before the commission and had not filed any written statement. Summon to opposite party is delivered and had received it on 13/10/2023. Hence the case fixed ex-parte against opposite party.
The complainant has submitted and filed evidence on affidavit. In support of his case complainant produce several documents which are marked as exhibit.
Documents produced by the witnesses | Exhibited as |
Repot dated 12/02/2023 of ideal patha centre( photo copy) | EX-1 |
Photo copy of test report as x-ray report in 4 sheet | EX-2,2(A),2(B),2(C) |
Lab test photo copy 1 sheet | EX-3 |
Photo copy of STDR 2 sheet | EX-4,4(A) |
Photo copy of PPF account statement 2 sheet | EX-5,5(A) |
Photo copy of bank demand letter Dated 21/10/2019. 1 sheet | EX-6 |
Photo copy of No due certificate dated 02/06/2018, 1 sheet | EX-7 |
Photo copy of L.I.C, PPF , 1 sheet | EX-8 |
Photo copy of loan statement , 3 sheet | EX-9.9(A),9(B) |
On the basis of documents and evidence produced by the party the following issues required to be adjudicated in this case-
- Whether the case is maintainable or not?
- Whether the case is barred by limitation?
- Whether there is any deficiency in service by the part of opposite party.
- Whether the complainant is entitled to the relief as claimed in the complaint petition?
- Whether the complainant has valid cause of action for filing the case?
- Whether the case comes under the consumer protection Act?
FINDINGS
From the complainant petition, its reply evidence adduced by the party and the argument advanced by him, we find that in the present case, following facts are as follows.
- The complainant has a life insurance policy bearing policy no.-555340498 which is assigned in favour of state bank of India Murhu,
- The complainant has taken loan amount of Rs.3.0 lakh on 13/08/2013 form state bank of India Murhu which has been paid by complainant along with interest on 04/05/2018.
- The Bank manager has already given no dues for loan clearance certificate on 02/06/2018
- The Bank Manager kept his L.I.C policy as security bond against payment of loan of Rs.3.0 lakh. The maturity amount of LIC policy is Rs.35000/-
- After paying the Loan amount the complainant requested to Bank to return the LIC certificate which was kept as security bond but Bank is not returning the LIC certificate.
- In the meantime, complainant passed with accident and demanded his LIC maturity amount Rs. 350000/- but Bank refused to pay the same. Further after few days the complainant face another accident on 11/12/2023.
- The Complainant has two accounts in SBI Murhu they are STDR of Rs. 98000/- and PPF of Rs. 122593 which has been blocked by bank. Due to that complainant is unable to withdraw his amount for the purpose.
- Inspite of several request by the complainant, the Manager, SBI Murhu has not taken any action for the welfare of the complainant who is suffering financially and mentally.
- In reference to above facts, complainant filed this case on 26/07/2022 which was admitted on 02/08/2022. He claimed of Rs. 5 lakh as relief and compensation amount.
The only thing to decide in the present case is :-
Whether the bank maintaining the account of complainant is responsible for not returning the LIC policy Bond. Since the petitioner has already paid the loan amount along with interest to Bank, therefore the opposite party , Manger , SBI Murhu should return the policy Bond paper to meet the financial and mental agony. Since the opposite party did not appeared in this case. Opposite party have been declared as ex-parte. There is nothing in record to rebut the claim of the complainant.
Accordingly, we hold that the liability of opposite party i.e bank to return the LIC bond and compensate the complainant to his mental agony litigation cost. Therefore we come to the conclusion that:-
The complainant has valid cause of action for filing this case and this case comes under the preview of consumer Protection Act. We also come to the conclusion that this case is maintainable and there is deficiency in service on the part of opposite party.
Therefore, it is
ORDERED
That the Opposite Party is directed to return the LIC policy bond to the complainant and Rs. 3000/-(Three Thousand Rupees) as mental agony and Rs. 2000/-(Two Thousand Rupees) as litigation cost, total 5000/-( five Thousand Rupees ) to the complainant within 60 days from the date of this order and if the opposite party does not pay the amount within stipulated period, the opposite party shall be liable to pay interest on entire amount at the rate of 6% per annum from the date of order till final payment. In case of non-compliance the complainant shall be entitled to get the order executed through process of the law. Supply free copy to the parties.
