CourtKutchehry.com
Tribunals and Commissions(2003) 05 NCDRC CK 0039

Life Insurance Corpn. of India vs MAMATA ROY

National Consumer Disputes Redressal Commission · Decided on 29 May 2003 · Citation: 2003 3 CPJ 359 : 2004 1 CPC 326

HON’BLE JUDGES
S.C.Datta , D.Karformas , S.Majumder J.
RESULT
Appeal disposed of

CourtKutchehry membership

More clarity. Every judgment.

Download court copies, explore connected cases and make more of every research session.

Loading membership options…

Ask AI about this case

AI Structured Summary

Not yet generated for this judgment

Judgment

2 paragraphs · 353 words
1.

SRI Bichitra Kumar Roy is a retired Central Government employee. He deposited a sum of Rs. 3,00,000.00 with the Life Insurance Corporation of India at its Malda Branch out of the money received by him as retirement benefit under the "Jeevan Akshay Scheme" on 2.3.2001 for payment of monthly annuity. The first payment of the annuity was due within one month of the deposit of the amount. Petitioner No. 1 Smt. Mamata Roy is his wife. She is the nominee under the said scheme. The opposite parties having not made the payment as per the stipulations the complainants have brought this action. The petitioner No. 2 was required to receive monthly instalment from 2.4.2001 @ Rs. 2,980.00 as per the agreement between the parties. But there has been delay of a little more than three months in making the first and subsequent instalments of annuity amount. There is no explanation as to why this delay in making payment of annuity occurred. This is certainly a deficiency in service. It appears that the Forum has awarded a sum of Rs. 50,000.00 towards compensation for harassment and mental agony. According to the appellant the amount of compensation is excessive. It may be mentioned that the petitioner No. 2 has invested his life''s savings with the LICI with the expectation of getting annuity month by month as per stipulations. But he had to approach the Forum for getting the payment of annuity. It does not appear proper on the part of LICI to make delay in payment of annuity. However having considered the fact that there has been delay of a little more than three months in making payment of annuity for the initial period we think it prudent to reduce the amount of compensation from Rs. 50,000.00 to Rs. 5,000.00 which we hereby do. The cost awarded by the Forum is not affected.

2.

WITH this modification the appeal is disposed of with the direction to the LICI to make payment of the amount thus awarded within a period of two months from this date failing which execution case will proceed. Appeal disposed of.