LIFE INSURANCE CORPORATION OF INDIA AND ORS. (UNIT: NATIONAL INSURANCE CO. LTD.) Vs. OMPRAKASH AGARWALLA

JUDGEMENT

(1.) THIS Letters Patent Appeal arises out of the judgment of the learned single judge.

(2.) PLAINTIFF -respondent, Omprakash Agarwalla, is the son of Mangilal Agarwalla, who died on 21st July, 1965. During his lifetime Mangilal Agarwalla insured his life under endowment assurance scheme with accident benefit clause with the National Insurance Company Ltd. for a sum of Rs. 5,000 under proposal No. 51099 dated July 31, 1955. Mangilal Agar -walla obtained the policy bearing No. 651669 and the date of commencement was August 28, 1955, from the National Insurance Company Ltd. The mode of payment of premium was yearly and the premium was payable on the 28th day of August, each year. The annual premium was Rs. 254 -11 -0 (Rs. 254.69). The policy was of automatic non -forfeiture system "A". Plaintiff, Omprakash Agarwalla, was nominated to receive the money secured by the policy. The business of the National Insurance Company Ltd. was taken over by the Life Insurance Corporation of India and the number of the policy of Mangilal Agarwalla remained the same.

(3.) IN reply to the above letter dated 15th January, 1965, the Assistant Divisional Manager of the Life Insurance Corporation of India (Unit : National Insurance Company) sent the following reply (vide Ex. 10) to Mangilal Agarwalla under No. Prem/C/Gc/Sc. dated 9th February, 1965