MADHAV HARI JOSHI vs DIVISIONAL MANAGER, LIFE INSURANCE CORPORATION OF INDIA

The Supreme Court upheld the decision of the National Consumer Disputes Redressal Commission regarding the Life Insurance Corporation's (LIC) liability to refund Rs.1,75,000 to the appellant, as no policy was issued despite the proposal and payment made. The Court affirmed the findings of the District Forum and State Commission, which had ordered the refund and compensation for deprivation of funds, but noted that the compensation awarded by the National Commission was deleted. The Court emphasized the importance of consumer rights under the Consumer Protection Act, 1986, particularly in cases of non-issuance of insurance policies despite payment.