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BHARTI KOTHARI (practising advocate)     28 July 2017


Sirji I have purchase vehicle on loan from bank. The bank has also arrange for insurance policy from the company with whom it has tie up and working as insurance agaent for that company. It was pre condition for getting loan to take policy from them only. Thus bank only arranged for insurance policy and infact deducted premium from loan amount. Now when the vehicle stolen I lodged complaint to police and also inform to bank as I was not knowing insurance company. I am uneducated person. Now since bank has not conveyed the same to insurance company so it repudiated claim on the ground that it prejudised them. Now bank has terminated loan agreement and intiated arbiterarion proceeding at chennai and got award and finally taken out execution application on my slum property. Now my question is :-

Q. Wheather decree can be executed on my slum residence ?

Q. Wheather bank can be sued in consumer court in the capacity of agent as at the end of day it was getting commission from insurance company and it is his responsibility to serve the consumer by way of after sale service/ duty.


 4 Replies

SHIRISH PAWAR, 7738990900 (Advocate)     28 July 2017

You have to challenge arbitration award in high court.


Find out the insurance company name from statement. If bank is refusing to give name then send notice to bank thereafter on failure to give furnish details by bank you can proceed against bank and file complaint.


Chance of winning is bleak. Owner has to inform the insurance company about theft, not the bank.


BHARTI KOTHARI (practising advocate)     28 July 2017

but what loss insurance company has suffered since i have lodge complaint immediately to police and FIR has been lodged and it is for police to investigate matter and not insurance company. though I have filled complaint to consumer court however notice is issued to insurance compnay and not to bank. can I challenge the order in appellate court?


Bank has nothing to do with insurance claim. They are concerned with their own money, whosoever pays, the insurance company or the owner.



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