SUDHA GUPTA Vs. PNB HOUSING FINANCE LTD

JUDGEMENT

(1.) The complainant along with her husband took a housing loan of Rs.1,18,00,000/- from the respondent PNB Housing Finance Limited. The sanction issued by the lender required the borrower to take an insurance policy and according to the complainant, on the advice of the opposite parties, she and her husband decided to take an insurance policy from the ICICI Lombard General Insurance Co. Ltd. Premium of Rs.4,00,000/- was paid by the husband of the complainant by way of a cheque. It is alleged that no Cover Note of any insurance policy or the policy terms and conditions were sent to him. The husband of the complainant having died on 04.10.2016, a claim under the insurance policy was submitted by the complainant. The claim however, was repudiated vide letter of the insurer dated 27.12.2016. Being aggrieved from the repudiation of the claim, the complainant is before this Commission, seeking payment of Rs.1,20,00,000/- from the opposite parties, along with interest etc.

(2.) IA/16458/2018 was filed by the opposite parties No. 1 and 2 namely, PNB Housing Finance Limited, seeking deletion of its name on the ground that the matter had been settled between lender and the borrower. Vide order dated 14.9.2018, it was directed that though the name of PNB Housing Finance Limited would not be deleted from the array of parties, the complainant cannot claim any relief against the said opposite party. Thus, the complaint practically continues only against the insurer.

(3.) The claim was repudiated vide letter dated 27.12.2016, which to the extent it is relevant reads as under: