POONAM KHATTAR Vs. LIC OF INDIA
HIGH COURT OF DELHI
LIC OF INDIA
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(1.) THE Petitioner seeks a mandatory order against the First Respondent (hereafter called 'LIC') restraining it from deducting the
credit/commission earned by her on account of three Policies known as:
'Keyman Insurance' Policies (hereafter 'the policy') issued to cover the
seventh Respondent (hereafter called 'the insured').
(2.) THE brief facts of the case are that LIC had framed the policy to insure the risk in respect of the important management personnel or
decision makers in companies and organizations. The insurable interest in
such persons were to be suitably evaluated and the LIC assured the
payment of substantial amounts, in terms of the policy, on the happening
of various eventualities -not only confined to death or accident, but
additionally, other contingencies.
The Petitioner is a LIC agent. She had got the policy issued in favour of the insured M/s Addi Industries Ltd. In terms of the agreement between
the Petitioner, and the LIC she was entitled to credit of certain
commission forming part of the premium paid. It is not in dispute that
the said commission was credited to her account, maintained by the LIC.
(3.) THE Respondent No.6 Ms. Swati Chopra addressed a complaint on 25.4.2003, to LIC alleging interference in the issuance of the policy. She too is an LIC agent. According to the contents of the complaint, the
insured had secured an earlier Keyman Policy pursuant to a proposal
approved on 29.1.2003 after the medical tests prescribed by the LIC's
Regulations were completed. Within a day i.e on 30.1.2003 the insured
sought withdrawal of the proposal and also followed a request with a
reminder dated 7.2.2003. The proposal was accordingly withdrawn and the
amount refunded on 13.2.2003. Another Keyman Policy was later issued, at
the Petitioner's behest.;
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