NATIONAL CONSUMER DISPUTES REDRESSALCOMMISSION NATIONAL CONSUMER DISPUTES REDRESSALCOMMISSION NEW DELHI REVISION PETITION NO. 1624 of 2005 (From the order dated 25.1.2005 in Appeal No.749/2004 of the State Commission, Bhopal) Smt. Meenakshi Sharma .. Petitioners Vs. Branch Manager, Life Insurance Corporation of India .. Respondent BEFORE : HONBLE MR. JUSTICE M.B.SHAH, PRESIDENT. HONBLE MR. JUSTICE S.N. KAPOOR, MEMBER For the Petitioner : Mr. Naveen Sharma, Ms. Swati B. Sharma, Advocates For the Respondent : Mrs. Pankaj Bala Verma, Advocate DATE : 17.05.2006 O R D E R
Wife
of the insured filed complaint case No.307/2003 before the District Consumer
Disputes Redressal Forum, Bhopal,
for recovery of the sum payable under two insurance policies as her husband has expired on 2.5.96 and she was the
nominee. The sum assured under the first policy
No.350793584 was Rs.50,000/- and for the second policy No.350791501 the sum
assured was for Rs.47,000/-. The District
Forum found that
first policy has lapsed for non-payment of premium on due date. Finally, the District Forum held as under:
(1) That
the opposite party is directed that it shall make payment of the premium amount
deposited in insurance policy No.350793584
as per the prevalent rules and in accordance with the conditions of the
insurance policy.
(2) The opposite party is also directed that it
shall make payment of the insured amount of Rs.47,000/-
in regard to the policy no.350791501 and on that shall make payment of interest @ 6% p.a. from 19.5.2003,
the date of presentation of the complaint till payment.
(3) The opposite party shall make payment of
Rs.500/ as costs of the case to the complainant.
Against that order, the LIC
preferred Appeal No. 734/2004 and Complainant also preferred appeal No.749/2004. By a common order dated 25.1.2005 the appeal filed by the LIC was
dismissed. The appeal filed by the
complainant was partly allowed and the LIC was directed to pay in addition, the accrued bonuses over and above the sum assured
on the said policy dated
15.2.1994.
Against
the order passed by the State Commission in the appeal filed by the
Complainant, the Complainant has preferred this revision Petition.
In
the revision application, complainant has contended that the order passed by
the State Commission directing to pay the amount with interest @ 6% is absolutely inadequate
as at the relevant time i.e. in the year
1994 1996 prevailing rate of
interest was much more higher. It is also contended that LIC is a nationalised
company to protect the interests of the insured and not to litigate
unnecessarily.
In
our view, the submission made by the learned counsel for the complainant
requires to be accepted and the order passed by the State Commission directing
the LIC to pay the sum assured with interest at the rate of 6% p.a. requires
modification. The LIC is, therefore,
directed to pay the said
amount with interest @ 10% per annum from 15.8.96 ( that is to
say six months after the death of the insured) till its payment.
Second
submission of the petitioner also requires acceptance. Petitioner was unnecessarily required to approach
the District Forum, State Commission and the National Commission. For this litigation, harassment and mental
agony, she is required to be adequately compensated.
In
this view of the matter we direct that LIC shall pay Rs.10,000/-
as compensation including the costs to the complainant after adjusting the amount paid to the
complainant.
In the result, the Revision Petition is
allowed. The Insurance Company is directed to pay the sum assured with interest
at the rate of 10% p.a. from 15.8.1996 till its payment. The Insurance Company
shall also pay Rs.10,000/- as compensation.
Sd/-
…..J.
(M.B.SHAH)
PRESIDENT
Sd/-
.J.
(S.N.
KAPOOR)
MEMBER
