Jaipur: District Consumer Commission II has thought of the deduction of the quantity collected as house mortgage insurance coverage cowl whereas returning it to the patron as a service defect. Along with this, the fee has requested SBI Life Insurance Company to return the deducted quantity of Rs 41059 together with curiosity. Along with this, the fee has additionally imposed a high quality of Rs 65 thousand on the insurance coverage firm. Commission Chairman Gyarsi Lal Meena gave this order on the grievance of Jagmohan Singh Yadav.
It was stated within the grievance that the complainant had purchased a home in Indira Gandhi Nagar within the yr 2010. In such a state of affairs, a mortgage of Rs 10.69 lakh was sanctioned by SBBJ Bank. At the identical time, Rs 1.34 lakh was deducted as insurance coverage cowl for the house mortgage. During this, the complainant was assured that if he didn’t need insurance coverage, then this quantity can be returned to him. It was stated within the grievance that the complainant paid the primary installment of the mortgage in January 2011.
Read: State Consumer Commission imposed a high quality of Rs 8.50 lakh on Mercedes Benz India for promoting a faulty automobile – Fine On Car Manufacturer
Apart from this, when the complainant requested for the return of the quantity deducted as insurance coverage cowl, he was despatched a duplicate of the insurance coverage coverage bond. On this, the complainant expressed disagreement relating to the insurance coverage coverage. It was stated within the grievance that afterward May 30, 2011, solely Rs 92941 was returned as a substitute of Rs 1.34 lakh deducted as insurance coverage cowl. In this case, Rs 41059 has been illegally deducted from the complainant. Hearing on this, the fee has imposed a penalty on the insurance coverage firm whereas ordering to return the deducted quantity together with curiosity.
