Consumer complaint

Querist : Anonymous (Querist) 23 October 2011 This query is : Resolved
My friend has set up a poultry form.He obtained loan from the Bank.Bank deducted premium for insurance of the poultry stock etc.Due to heave rains/cloud burst all fowls died and were washed away.When frnd claimed ins claim he was told that Bank had not paid 'premium'.Frnd was advised to file Consumer complaint.
Plz advise & suggest some jjmnts for citing b4 the DF to get the ins claim.
Who is guilty Bank,my friend or Ins Co ?

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Devajyoti Barman (Expert) 23 October 2011
Time is pre matured to ask for judgement when even the complaint os filed before the consumer forum.

If the Bank was duty bound to deposit the premium then the Bank is deficient of service.
If it was your friend who was supposed to deposit the premium then case before the consumer forum would fail.

Guest (Expert) 23 October 2011
yes i agree with the expert. it is the duty of the bank deposit the premium of the project.

Querist : Anonymous (Querist) 23 October 2011
Thanks for sparing your precious time.In fact the practice is the Bank deducts amount of premium from his account & in the past also Bank alone makes the payment of premium.They do in others cases as well.Bank people admit they deducted the amount of premium.Even otherwise my frnds statement of accounts shows the amount of premium deducted.
Regards.

Guest (Expert) 23 October 2011
you can collect the information of that deduction and and verify it from the insurance company as well as the bank statement.

Shonee Kapoor (Expert) 23 October 2011
What does the documentation says.

When you got loan, what did the summary statement said, INSURANCE PREMIUM DEDUCTED or it is all verbal.

If the Insurance Premium was deducted at source, you should write a letter to bank for compensation, if denied move Consumer Court.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

Kiran Kumar (Expert) 23 October 2011
all depends upon the documentary evidence...if the deductions have been made as per the agreement then certainly the bank ll be held liable.

Raj Kumar Makkad (Expert) 23 October 2011
In the given facts, bank deducted insurance premium out of loan amount so bank is fully liable to compensate as it remained deficient in its duty. Charge entire compensation from bank.

prabhakar singh (Expert) 24 October 2011
Agree with common opinions expressed here.

ajay sethi (Expert) 24 October 2011
agree with experts

Sailesh Kumar Shah (Expert) 24 October 2011
I also agree with common opinions of experts.

Querist : Anonymous (Querist) 24 October 2011
THANK YOU ALL FOR ADVICE.
REGARDS &
HAPPY DIWALI TO YOU ALL !

Devajyoti Barman (Expert) 26 October 2011
HAPPY DIWALI to you as well.

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