BANK OF BARODA Vs. MINABEN R BANE

JUDGEMENT

(1.) Counsel for the petitioner present. Arguments heard. Sh. R.G. Bane (deceased) took housing loan in the sum of Rs.3,10,000/- on 21.03.2008 from Bank of Baroda-OP. The loan amount was disbursed to the builder on 12.04.2008. It was stipulated in the Scheme that the Bank will offer benefit of free property and personal accident insurance up to the loan amount. Unfortunately, Sh. R.G. Bane passed away on 30.04.2008.

(2.) Smt. Minaben R. Bane widow of the Sh. R.G. Bane filed the present complaint. She intimated about the death of her husband and filed a claim and asked the Bank to obtain it from the Insurance Company. Subsequently, it transpired that the Bank did not take the Insurance policy for the above said purpose and did not pay the Insurance premium till 30.04.2008. The Bank did not issue due certificate and return the original title deeds.

(3.) The District Forum came to the conclusion that the Bank did not pay Insurance Premium nor did it obtain the Insurance Policy. It was found that there was deficiency in service on the party of the Bank. The District Forum passed the following order:-