Court : Gujarat
Reported in : (2004)IIILLJ380Guj
..... imposes unreasonable and arbitrary restriction on the legitimate welfare activities of a registered trade union and therefore, was violative of the provisions of article 14. section 3 of the insurance act, 1938 was violative of article 14 for the same reason. according to the petitioner, from may 1989 onwards, there were about 1300 employees of the bank paying contribution under ..... of india to the petitioner trade union informing it that its proposed 'uco bank employees' death benefits scheme' contravened the provisions of section 3 of the insurance act, 1938 and section 30 of the life insurance corporation act, 1956 and the notice dated 6-11-1989, at annexure 'd' to the petition, calling upon the petitioner to withdraw the said scheme.2. ..... to be paid the amounts stipulated under the scheme. according to the petitioner, the provisions of section 3 of the insurance act, 1938 and section 30 of the life insurance corporation act, 1956, refer to `life insurance business' and did not refer to `life insurance activities'. the scheme like the one undertaken by the petitioner was not a business venture and was, therefore, outside ..... money assured on death of the member, as per clause 11, clearly indicates that the petitioner was doing `life insurance business' within the meaning of section 30 of the life insurance corporation act, 1956 read with section 2(11) of the insurance act, 1938. there is, therefore, no substance in the contention that the petitioner was not doing any business since it .....Tag this Judgment!
Court : Delhi
Reported in : AIR2005Delhi211; II(2005)BC48; 2005(1)CTLJ177(Del); 116(2005)DLT457; 2005(79)DRJ579
..... the chairman of the company has also been enclosed.as per the eligibility criteria in the present tender (chapter 2 pg-6), the tenderer must have license to act as surveyor/loss assessor under insurance act, 1938. it is seen that capt. percy meher master, the current chairman of the company is having a license issued in his name, but as proprietor of master ..... proprietor of m/s master marine services. as per our tender criteria, clause 1(d), chapter-2 (pg.6) mentions that ''the tenderer must have license to act as surveyor/loss assessor under insurance act 1938''. the tec feels that there are only two bidders in this tender. it would be desirable to prevent this tender from lapsing into a single bidder tender. thereforee ..... 1(d), of the eligibility criteria is an essential condition20. the eligibility condition stipulated in clause 1(d) is that the ''tenderer'' must have a license to act as surveyor/loss assessor under the insurance act, 1938. the plain language of the clause makes it clear that the said condition of eligibility is a n essential condition. further, a conjoint reading of various clauses ..... separately. (c) tenderer should have employed at least 20 persons including at least two iicl certified supervisors for preceding 3 years. (d) the tenderer must have license to act as surveyor/loss assessor under insurance act, 1938. 4.4. the scope of work was spelt out in chapter (iii) of the tender documents. in particular a successful tenderer, to be referred to as a .....Tag this Judgment!
Court : Chennai
Reported in : AIR1977Mad72
..... city civil court, madras, by his judgment and decree dated 23-3-1970, held that, under the nomination effected by srinivasa rao, in accordance with section 44(2) of the insurance act, 1938, as amended by the government of india notification referred to above, it was the second respondent who was entitled to receive the money. the trial court also held that, in ..... 1-3-1962, and published in the gazette of india dated 10-3-1962. this notification provided that to sub-section (2) of section 44 of the insurance act, 1938, as made applicable to the life insurance corporation of india, the following proviso shall be added--"provided that, where the agent has nominated in writing any person including social or charitable institution to receive ..... point, it will be unnecessary to consider points 3 and 4, and therefore, i shall deal with this point now. section 38 of the insurance act, 1938 (hereinafter referred to as the act) deals with the assignment or transfer of insurance policies. section 39 deals with nomination by a policy holder, and the language of section 39(1) makes it absolutely clear that the nomination ..... herein, calling upon it to pay his share of the commission, but the said corporation sent a reply stating that section 44 of the insurance act, 1938, had been modified by the central government and made applicable to the life insurance corporation, as per the notification of the ministry of finance, no. gsr 734 dated 23-8-1958, that as per the modified section .....Tag this Judgment!
Court : Allahabad
Reported in : AIR1985All183
..... factors, the tariff rates were revised. it is, therefore, said that the t.a.c. fully kept in view the provisions of sub-section (2) of section 64uc of the insurance act 1938 inasmuch as, in revising the rates it took maximum care to ensure that there was no unfair discrimination between risks of essentially the same hazard and also that consideration was ..... justice. composition of the t.a.c. has been stated in section 64-ua of the insurance act, 1938 (for short the act of 1938). section 64-uc of the act of 1938 confers power on the t.a.c'. to control and regulate the rates that may be offered by insurers in respect of any right or of any class or category of risk and the decision ..... . in revising the rates was invlid, inasmuch as, it was not ratified by the controller. sri saran very apply argued that section 35 of the general insurance business (nationalisation) act, 1972 lays down that the act of 1938 shall apply to corporation subject to the conditions laid by the central government. then he pointed out that by the notification dated 29th dec. 1972, section ..... that the tariff fixed by the t.a.c. is subordinate legislation and a legislative process. no provision for inviting the representatives of the transporters having been made in the act of 1938 and the tariff rates fixed by the t.a.c. being legislative process, we hold that the petitioners could not press for the right being heard and as such .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR2005SC2299; 2005(5)ALLMR(SC)657; II(2005)BC574(SC); 2005(2)CTLJ48(SC); 119(2005)DLT139(SC); JT2005(4)SC408; (2005)6SCC138
..... master marine services. as per our tender criteria, clause 1(d), chapter 2 (pg.6) mentions that the tenderer must have license to act as surveyor/loss assessor under insurance act, 1938. the tec feels that there are only two bidders in this tender. it would be desirable to prevent this tender from lapsing into a single ..... sealed in a separate envelope, to be called envelope 'a'. the envelope must contain the following documents :(a) ....................................... ........................................................................(g) copy of license to act as surveyor/loss assessor under insurance act, 1938. .........................................................................3. the second part will consist of the 'financial bid' for tender for professional services for survey of containers and cargo for concor at icd/ ..... plea taken in the writ petition was that the appellant did not meet the eligibility criteria as it did not have a license to act as surveyor/ loss assessor under the insurance act, 1938. in the counter affidavit filed by the concor, it was pleaded that both the appellant and the first respondent did not fulfill the ..... be accompanied by various documents showing experience, constitution of the firm/company, turn over for past three years, a copy of the license to act as surveyor/loss assessor under the insurance act, 1938, besides other matters and earnest money in the form of bank draft/pay order. the second part was to consist of the 'financial bid .....Tag this Judgment!
Court : Supreme Court of India
Reported in : 2008ACJ581; AIR2008SC767; 2008(1)ALLMR(SC)968; 2008(1)ALT38(SC); 2008(1)KLT296(SC); (2008)2MLJ575(SC); (2008)149PLR775; RLW2008(2)SC1354; 2007(14)SCALE257; (2008)2SCC595; (2008)1SCC(Cri)517; 2008(1)LH(SC)64; 2008(4)LH(SC)2402; ILR2008(2)Kar1397; 2008(2)KCCR598; 2008(1)AIRKarR485
..... the owner of the motor vehicle to get the vehicle insured in so far as the claim of third party is concerned. the act does not deal with contract of insurance as such. contract of insurance is governed by the insurance act, 1938 (for short 'the 1938 act'). 14. section 64-vb of the 1938 act provides that no risk is to be assumed unless premium is received in advance ..... in the following terms:section 64vb - no risk to be assumed unless premium is received in advance - (1) no insurer shall assume any risk in ..... india in respect of any insurance business on ..... ors. : 1scr1131 , a division bench noticed both the aforementioned decisions and analysed the same in the light of section 64-vb of the 1938 act. it was held:17. in a contract of insurance when the insured gives a cheque towards payment of premium or part of the premium, such a contract consists of reciprocal promise. the drawer of the cheque promises .....Tag this Judgment!
Court : Mumbai
..... shall be taken to be the annual average of the surplus arrived at by adjusting the surplus or deficit disclosed by the actuarial valuation made in accordance with the insurance act, 1938 (4 of 1938), in respect of the last inter-valuation period ending before the commencement of the assessment year, so as to exclude from it any surplus or deficit included therein which ..... be excluded while computing the actuarial valuation surplus. 14. it is neither the case of the revenue that the provision for solvency margin is contrary to the provisions of the insurance act, 1938 nor it is the case of the revenue that the solvency margin has been wrongly or excessively calculated by the actuarial as it was mandatory for the assessee to set ..... the taxable income. 17. it is not in dispute that the jeevan suraksha fund is a pension fund approved by the controller of insurance appointed by the central government to perform the duties of the controller of insurance under the insurance act, 1938. the loss incurred in the jeevan suraksha fund has been considered by the actuary as a business loss, as per the valuation ..... has to be arrived at by adjusting the surplus or deficit disclosed by the actuarial valuation made in accordance with the insurance act, 1938. 12. in the present case, the chairman of irda by his letter dated 4th september 2002 had directed that the present solvency calculations of the assessee do not conform to the requirements of the regulations that have been stipulated .....Tag this Judgment!
Court : Mumbai
Reported in : 1985(1)BomCR454; 55CompCas695(Bom); 147ITR405(Bom)
..... of that year; (b) the annual average of the surplus arrived at by adjusting the surplus or deficit disclosed by the actuarial valuation made in accordance with the insurance act, 1938 (iv of 1938), in respect of the last inter valuation period ending before the commencement of the assessment year, so as to exclude from it any surplus... in computing income ..... rule. clause (iv) of sub-r. (1) of r. 7 of the said schedule states as follows : 'life insurance business means life insurance business as defined in clause (11) of section 2 of the insurance act, 1938 (act iv of 1938)'. section 2 of the insurance act is the definition section in that act. the relevant portion of clause (11) of that section runs as follows : 'life ..... insurance business means the business of effecting contracts of insurance upon human life, including any contract whereby the payment of money is assured on ..... the direction and control of the controller of insurance under s. 52a of the insurance act, 1938. till october 5, 1956, the administrator of the assessee carried on life insurance business as well as general insurance business. in 1956 the central govt. nationalised the business of life insurance, but it did not take over the life insurance business of life assessee. by a letter dated .....Tag this Judgment!
Court : Mumbai
Reported in : 1999ACJ116; 1998(4)ALLMR278; 1998(4)BomCR837; 101CompCas29(Bom); 1998(3)MhLj537
..... insurance corporation act provides for application of the insurance act. it specifically mentions which sections of the insurance act, 1938 are attracted in case of life insurance policies. section 64-vb isnot one of them. even assuming that the said provision of section 64-vb of the ..... . mansukhlal died thereafter and hence the respondent no. 1 is liable to pay under those two policies. it is further submitted that in view of section 64-vb of the insurance act, 1938, the risk is deemed to have been undertaken the moment the first premium was received by the respondent no. 1. in the present case, the said premium was received by ..... a deposit memorandum pending finalisation of acceptance of proposal. the provisions of section 64-vb of the insurance act, 1938 are not applicable in the case of life insurance in view of section 43(5) of the life insurance corporation act, 1956. the said provision declares which provisions of the insurance act, 1938 are attracted and section 64-vb is not mentioned therein. it is also contended that the ..... only deposit and not payment of premium. 4. it is first to be noted that the reliance of the petitioners on section 64-vb of the insurance act, 1938 for contending that risk is undertaken by the life insurance corporation when the cheque was encashed on 21-9-1987 is not well-founded for more than one reason. first, section 43 of the life .....Tag this Judgment!
Court : Supreme Court of India
Reported in : 2009ACJ2837; JT2009(12)SC63; 2009(11)SCALE597; (2009)8SCC507; 2009(9)LC4201(SC); 2009AIRSCW6749; 2009(5)LHSC3396
..... . to appreciate the issues raised in this civil appeal, we extract relevant section by omitting what is not necessary for the purpose of this case. section 64um(2) of the insurance act, 1938 is as under:64um(2) - no claim in respect of a loss which has occurred in india and requiring to be paid or settled in india equal to or exceeding ..... of fire incident. it is further contended that the company had appointed several surveyors, which they could not have done in terms of section 64um of the insurance act, 1938.14. in the instant case, the insurer had appointed a surveyor for preliminary inspection and survey to assess the loss caused due to the fire accident in the business premises of the appellant. in ..... to the counter affidavit filed by them before this court in justification of the order passed by national consumer commission and then submits that the provisions of section 64um of insurance act, 1938 does authorize the insurer to appoint surveyor or surveyors, may be for the second time for the purpose of getting a fair report of the actual loss suffered by the ..... has to give satisfactory reasons for not accepting the report of the first surveyor and the need to appoint second surveyor.23. section 64um(2) of the insurance act, 1938, reads that `no claim in respect of a loss which has occurred in india and requiring to be paid or settled in india equal to or exceeding twenty thousand rupees .....Tag this Judgment!