MADHAO LAXMAN KAPIL Vs. LIC OF INDIA

JUDGEMENT

(1.) This revision petition has been filed by the petitioner/complainant against the order dated 09.05.2014 of the M.P. State Consumer Disputes Redressal Commission, Bhopal (for short, 'State Commission') passed in F.A. No.789 of 2013.

(2.) The facts of the case as per the petitioner are that he is a retired Chief Manager, Administration & Accounts of State Bank of India. He took an insurance policy bearing No.S/21495802 under the plan "Limited Payment Life Policy (With Profits)" during his posting at Satara. The proposal of the policy was made on 15.12.1963 and its maturity was in the month of January 2006. After his posting at several places, on retirement he permanently shifted to Indore and requested the LIC (O.P.) to transfer the aforesaid policy to Indore Divisional Office. The policy was transferred from Nagpur Office of LIC to Indore Divisional Office in the month of November 1991. For certain administrative reasons the policy was then transferred to Raj Mohalla Branch of Indore. Petitioner enquired from Raj Mohalla Branch if he had obtained any loan on the said policy and if so, the abstract thereof. Despite several letters and reminders no response was given by LIC, despite the fact that petitioner tried to get these details from LIC, Division Office also. All his efforts proved futile. It is alleged that on many occasions LIC declined to give any information to him even to the extent of saying there was no policy with them of the number referred by the petitioner. All this continued upto a duration of nearly 18 years.

(3.) When petitioner sent to LIC a photostat copy of the transfer advice sent to him by them advising his whole life policy had been received by them in the year 1991 from their Divisional Office Indore, they searched and traced the policy to be with them and sent a claim voucher dated 13.5.2008 for Rs.19,525/-. Petitioner then sent a letter Ex.D/1 to the Chairman of LIC informing that he had raised some loan on the said policy while in Nagpur in the year 1982, but the transfer advice received from Nagpur did not contain any details in respect of loan, if any, raised by him on the policy and/or any interest/loan instalments due by him.