BALKISHAN Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) The complainant/petitioner took a loan of Rs. 42 lakhs from Punjab National Bank, Loharu. According to him, he had obtained an insurance policy to the extent of Rs. 48 lakhs by paying a sum of Rs. 2,25,000/- as insurance to the New India Assurance Co. Ltd. through Mr. Baldev Rai Sachdeva, Manager of Punjab National Bank, Dabra Chowk, Hissar, which included Rs. 8,000/- for the purpose of the premium of the insurance policy. The complainant, however, does not claim to have received any insurance policy. This is also the case of the complainant that on 05.05.2008, there was heavy rain, wind and storm in the area which damaged his shed/building and also resulted in death of 15,000 chicks, thereby causing him loss to the extent of Rs. 18 lakhs. The complainant applied to the Insurance Company for reimbursement of the loss suffered by him and the application submitted by him to the Bank was forwarded by them to the Insurance Company. However, no compensation was paid to the complainant either by the Insurance Company or by the Bank. Being aggrieved, he approached the concerned District Forum seeking compensation to the extent of Rs. 18 lakhs, alongwith Rs. 1 lakh towards compensation for the mental agony, harassment etc.

(2.) The Insurance Company pleaded before the District Forum that it had not issued any insurance policy to the complainant prior to the date of the alleged loss and therefore was not liable to compensate him. The Bank, however, denied the allegation of the complainant that its Manager had taken a sum of Rs. 2,25,000/- from the complainant including a sum of Rs. 8,000/- towards premium for the insurance policy.

(3.) Vide order dated 31.01.2014, the District Forum directed the Bank to pay a sum of Rs. 12 lakhs to the complainant alongiwth interest @ 12% per annum. A sum of Rs. 2,200/- was also awarded to him as litigation charges.