Now it’s Life Insurance: SC agrees to hear case against LIC for ‘duping’ 5 crore customers

Agencies
July 10, 2019

New Delhi, Jul 10: A non-profit organization engaged in promoting financial literacy has moved the Supreme Court, alleging cheating, especially of senior citizens, by the Life Insurance Corporation (LIC) through its Jeevan Saral policy, in which nearly 5 crore policy holders have "lost a big chunk on their principal investment".

The Mumbai-based Moneylife Foundation said it has received several complaints from policy holders, especially senior citizens, in the past few years.

"This scam is nearly or probably more than Rs1 lakh crore. We have a large number of complaints against this policy. This prompted us to file a Public Interest Litigation in the top court in the country. It is a clear case of cheating by the LIC," said Yogesh Sapkale of the foundation, which is seeking return of the premium of the policy-holders with 8 per cent interest.

After hearing senior counsel Arvind Datar, appearing for the foundation, a bench headed by Chief Justice Ranjan Gogoi posted the matter on July 15 for a detailed hearing.

The petition alleges that the Jeevan Saral policy was arbitrarily designed, and therefore, there was no emphasis on the due diligence aspect and gullible customers were misled through proposal forms, which were not correct.

After several allegations, the LIC recalled the policy in 2014, but the Insurance Regulatory and Development Authority of India (IRDAI) and the Finance Ministry are yet to recall it, and the policy-holders have been running from pillar to post for redressal, it said.

According to the foundation, the policy has gobbled-up the hard-earned savings of crores of policy holders, and it also left the LIC agents and their association infuriated. There have been many protests and complaints against the LIC, but it has not yet decided on returning the premium of the policy holders.

Due to the ill-design of the policy, senior citizens received negative returns on their investment, the foundation said, citing an example of a senior citizen who invested nearly Rs 10 lakh in ten years but at the end of the policy's tenure, received merely Rs 3 lakh.

Although, few customers moved consumer courts and got favourable orders, but this whole process of litigation is extremely time-consuming, said the foundation.

Moneylife's petition alleges several complaints and representations have been made to the LIC highlighting the gross irregularity in their system, but it has not budged.

"The IRDAI is empowered under Section 33 of the Insurance Act read with the Insurance Amendment Act, 2015 and the IRDA Act, 1999 to investigate the malpractices. However, it has remained a silent spectator of 'mass cheating by LIC'," Sapkale said, clarifying they have locus standi on the matter, as policy-holders are not organized under a body.

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News Network
January 13,2020

New Delhi, Jan 13: The Delhi High Court on Monday sought response of the city police, Delhi government, WhatsApp Inc, Google Inc and Apple Inc on a plea of three JNU professors to preserve data, CCTV footage and other evidence relating to the January 5 violence on the varsity campus.

The Delhi Police informed the court that it has asked the JNU administration to preserve and hand over CCTV footage of the violence.

Justice Brijesh Sethi listed the matter for further hearing on Tuesday.

The court was told by Delhi government Standing Counsel (criminal) Rahul Mehra that the police has not yet received any response from the university administration.

The counsel said police has also written to WhatsApp to preserve data of two groups "Unity Against Left" and "Friends of RSS" including messages, pictures and videos and phone numbers of members, related to JNU violence incident.

The petition was filed by JNU professors Ameet Parameswaran, Atul Sood and Shukla Vinayak Sawant seeking necessary directions to the Delhi Police Commissioner and Delhi government.

The petition also sought direction to the Delhi Police to retrieve all CCTV footage of JNU campus.

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Agencies
February 27,2020

New Delhi, Feb 27: The US Commission on International Religious Freedom (USCIRF) has said that the Delhi violence in which over 30 people were killed, was specifically targeted against the Muslims.

Expressing "grave concern over the ongoing violence taking place in Delhi", the USCIRF in a statement said that as President Donald Trump's inaugural visit to India winds down, North-East Delhi has been rocked by deadly rioting, with reports of violence and mobs specifically targeting Muslims.

"These incidents are even more concerning in the context of efforts within India to target and potentially disenfranchise Muslims across the country, in clear violation of international human rights standards," USCIRF Commissioner Anurima Bhargava said.

"According to reports, several mosques have also been set alight or vandalized. Many Muslim residents have been forced to flee the area. This unrest comes in the wake of widespread protests against the Citizenship (Amendment) Act following its passage in December 2019.

"The brutal and unchecked violence growing across Delhi cannot continue," Bhargava said adding that the Indian government must take swift action to ensure the safety of all of its citizens.

"Instead, reports are mounting that the Delhi police have not intervened in violent attacks against Muslims, and the government is failing in its duty to protect its citizens."

USCIRF Chair Tony Perkins said the ongoing violence in Delhi and the reported "attacks against Muslims, their homes and shops, and their houses of worship are greatly disturbing".

One of the essential duties of any responsible government, he said, is to provide protection and physical security for its citizens, regardless of faith.

"We urge the Indian government to take serious efforts to protect Muslims and others targeted by mob violence."

In its annual report last year, the USCIRF classified India as a "Tier 2" country for engaging in or tolerating religious freedom violations that meet at least one of the elements of the "systematic, ongoing, egregious standard for designations as a "country of particular concern (CPC)", under the International Religious Freedom Act.

The ongoing violence in North-East Delhi erupted after clashes between pro and anti-CAA protesters on Sunday.

Besides the casualties, over 200 others have been injured in the deadliest violence in the national capital in decades.

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News Network
May 7,2020

Visakhapatnam, May 7: Unconscious children being carried by parents in their arms, people laying on roads, health workers scrambling to attend to those affected by the styrene vapour leak and residents fleeing were some of the scenes that played out near here on Thursday, bringing back grim memories of the 1984 Bhopal gas tragedy.

The leak of styrene, a chemical used to make synthetic rubber and resins, among others, occurred in the wee hours of Thursday while people were still fast asleep.

Women and children were seen lying on roads struggling to breath, reminiscent of the infamous Bhopal gas tragedy when a leak from the Union Carbide plant left around 3,500 dead and many maimed.

The worst-hit Gopalapatnam village reverberated with cries of people for help.

Many people fell unconscious during their sleep, a villager said.

Affected people, suffering writ large on their faces, were rushed to hospitals in autorickshaws and on two wheelers.

Visakhapatnam Collector Vinay Chand said 20 ambulances were pressed into service as soon information about the gas leak was received.

Exposure to styrene, also known as ethenylbenzene, vinylbenzene can affect the central nervous system (CNS), causing headache, fatigue, weakness, and depression.

It is primarily used in the production of polystyrene plastics and resins.

The gas leak took place at LG Polymers chemical plant.

LG Polymers was established in 1961 as "Hindustan Polymers" for manufacturing Polystyrene and its co-polymers at Visakhapatnam. It merged with McDowell & Co. Ltd of UB Group in 1978, according to the company's website.

Taken over by LG Chem (South Korea), Hindustan Polymers was renamed LG Polymers India Private Limited (LGPI) in July, 1997.

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