Insurance Act, 1938, Section 38 -- As it was prior to amendment in 2015 - Insurance policy - Freely tradable and assignable - Life Insurance policies are freely transferable and assignable in accordance with the provisions of Insurance Act - However, S.38 of Insurance Act gives insurer the discretion to decide whether or not to accept a transfer or assignment of an..........
Hindu Law -- Joint family property - Where second wife received the insurance money following death of her husband and same was used for purchase of suit property along with other funds which she had generated on her own, such amounts constitute the entitlement of all the legal heirs of deceased/husband though the same may have been received by second wife as nominee of..........
Civil Procedure Code, 1908, Order 22, Rule 12 -- Execution of decree - Mesne profits - Deposit of decretal amount - Appellant being insurance Company which is a government company registered u/s 617 of Companies Act and there is no chance of decretal amount of not being realised in the event of appellant losing RFA - Appellant has not preferred to challenge either rate or..........
Motor Vehicles Act, 1988, Section 166, 157 -- Accident - Compensation - Liability of insurer - Even if no intimation as to hiring arrangement is given to insurance company, insurer cannot escape liability to indemnify as in case of hiring vehicle intimation is not required to be given...........
Motor Vehicles Act, 1988, Section 157, 166 -- Transfer of vehicle - Lease agreement - Liability of insurer - Vehicle in question has been given on hire and there is no complete transfer of vehicle - There is no prohibition and no condition/policy of insurance as shown to prohibit plying vehicle on hire - In absence of any legal prohibition and any violation of terms and..........
Motor Vehicles Act, 1988, Section 157, 166 -- Transfer of ownership - Certificate of insurance and policy described in certificate shall be deemed to have been transferred in favour of person to whom the motor vehicle is transferred with effect from the date of its transfer...........
Motor Vehicles Act, 1988, Section 157, 166 -- Transfer of ownership of vehicle by sale - Insurer cannot escape the liability as there is deemed transfer of certificate of insurance...........
Insurance Policy -- Terms and conditions - Terms of policy are to be strictly construed - There can be no cavil about proposition of law that in case of ambiguity, construction has to be made in favour of insured...........
Insurance Policy -- Terms and conditions - Premium of payment alone does not make the corporation liable to indemnify the loss or fasten the liability on it - It is also required on the part of insured for the purpose of sustaining the claim to show that there has been compliance as regards the declaration - As there is a clear violation of terms and conditions of..........
Insurance Policy -- Terms of payment - Appellant has shown the terms of payment due within 90 days of shipment and given a credit of 60 days which is well within the outer limit of 90 days - State Commission and Commission committed error by holding that there has been violation of terms of policy as regards the reduction of period of payment - As it is stipulated in the..........
