- (1.) This petition under Articles 226/227 of the Constitution of India is for issuance of writ in the nature of certiorari for quashing orders (P-1 and P-2) passed by respondent No. 2 and 3 respectively. The petitioner was having saving bank a/c in ICICI Bank and in last week of July, 2007, she went to Sector 11, Panchkula, branch of the above said bank, to put some funds in fix deposit account. The representative of the ICICI Prudential gave one scheme to the petitioner and got one blank cheque of Rs. 50,000/- from the petitioner in July, 2007 and also got unfilled application signed from the petitioner. The application was used in August, 2007 by making certain unauthorised cuttings and after one year ICICI Prudential sent reminder for deposit of Rs. 50,000/- and the petitioner in good faith paid another amount of Rs. 50,000/- in August, 2008. The petitioner was told that the entire money cannot be withdrawn before completion of 03 years. In August, 2010 one cheque of Rs. 53,485 along with covering letter enclosed was received by the petitioner and the covering letter was showing that total amount lying in credit account of the petitioner was Rs. 1,33,712/-. However, without giving any notice or reminder, the policy of the petitioner was terminated. Thereafter, the petitioner filed a complaint before District Consumer Disputes Redressal Forum-I, U.T. Chandigarh and the complaint of the petitioner was dismissed on 21.02.2013 (P-2) and it has been observed that the complaint/petitioner had paid only two installments of Rs. 50,000/- to respondent No. 5. The perusal of policy document (Life Time Super Pension) reveals that there is clause No. 10 about Foreclosure of the policy which stipulates that "If the full premium for the first three policy years is not paid and the policy is not revived within the period of two years, then surrender value as described in clause 4 will be paid at the end of the third policy year or at the end of the reinstatement period whichever is later.
(2.) Against the above said, the petitioner filed an appeal before State Consumer Disputes Redressal Commission, U.T. Chandigarh. Respondent No. 5 in their written statement had stated that the petitioner had signed the proposal form, after reading and understanding the terms and conditions of the same and the policy was issued in favour of the petitioner, as proposed by her. If she was not satisfied with the terms and conditions of the police, when the same were sent to her, she could make a request for cancellation of the same, during the free-look-period of 15 days, from the date of receipt of the policy documents but she did not do so. Further, as per letter dated 10.08.2010 informed that the value of the units, under the policy, as on 10.08.2010 was Rs. 1,33,712.70 PS. The appeal of the petitioner was also dismissed on 03.06.2013 (P-1).
(3.) Clause 4 of the policy as per which calculations were made, reads as under:- "Applicable surrender charges where three full year's premiums have not been paid In case the premium payments are discontinued within the three policy years, all benefits shall cease after the expiry of the days of grace for payment for the due date of the first unpaid premium.";