Dear Experts,
A policy was mis-sold to my brother by a telecaller of broker/pvt ltd co. (who pretended to be calling from GE money) by stating that it is a mandatory requirement for disbursal of pre-approved loan on the basis of his past credibility, whereas no loan was approved or has been disbursed.
Also, his signature on application form was forged as well as the form was changed with one having wrong personal/business information on it.. Moreover no documents except cheque was taken on the pretext that company already have all the details and documents in its records.
He approached the Insurance Ombudsman and in the award given by Ombudsman, it is mentioned that the case of cheating and mis-selling is proved, on the basis of which Insurance company is directed to cancel the policy and return the principle amount of premium paid only. Whereas in the complaint, claim for interest on premium, and compensation of loss of damages in business/income due to non disbursal of loan was also requested. Besides this, no action/penalty for proved forgery and mis-selling is imposed on Insurance company.
I seek the kind suggestions from experts that since there is no provision of appeal/review to the Ombudsman, can the case be taken up with the Consumer Forum and will it be within the jurisdiction power of District Consumer Forum to give the award including the accrued interest as applicable in such cases and compensation of losses/damages occurred due to promised but non-disbursed loan amount.
An earliest kind advice is solicited please.
thanks & regards
