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Bombay High Court Dismisses Petition Challenging LIC's Reduction in Gratuity Fund Policy Surrender Value. LIC's decision to pay 92.5% of cash accumulation upheld as consistent with policy terms and not arbitrary.

The petitioners, trustees of the Godrej & Boyce Manufacturing Company Limited Employees’ Gratuity Trust Fund, had taken out a group gratuity policy ...

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Bombay High Court Dismisses Tenants' Petition Challenging Demolition Notice for Dilapidated Building, Directs LIC to Reconstruct with Tenant Accommodation. The court held that the building was unsafe and required demolition, but LIC must provide alternative accommodation to tenants during reconstruction.

The judgment concerns a writ petition filed by tenants of the General Assurance Building in Mumbai, challenging a notice issued under Section 354 of t...

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Bombay High Court Declares LIC Owner of Suit Property, Orders Removal of Unauthorized Construction by Defendants. Defendants' claim based on revenue stay order and adverse possession fails as LIC's title from 1948 conveyance and statutory vesting under Life Insurance Corporation Act, 1956 is established.

The Life Insurance Corporation of India (LIC) filed a suit seeking declaration of ownership, removal of construction, and possession of land in Eksar,...

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Bombay High Court Dismisses LIC's Revision Against Eviction Order for Unauthorized Subletting. Lease Agreement Prohibited Subletting Without Consent; Subletting to Multiple Tenants Constituted Breach Justifying Eviction Under Transfer of Property Act, 1882.

The case involves a lease agreement executed on 16/12/1960 between the Board of Trustees of the Port of Mumbai (Plaintiff/Respondent) and the Life Ins...

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Supreme Court Enhances Compensation for LIC Policyholder Due to Deficiency of Service in Jeevan Aastha Plan. LIC's failure to process proposal and wrongful retention of premium for five years amounts to deficiency of service under the Consumer Protection Act, 1986.

The appellant, Madhav Hari Joshi, submitted a proposal to the Life Insurance Corporation of India (LIC) under its Jeevan Aastha Plan on 31 January 200...

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Bombay High Court Allows Petition Seeking Payment of Insurance Policy Amount to Nominee. LIC Directed to Pay Balance Interest on Delayed Payment Under Life Insurance Policy.

The petitioner, Ashwin Liladhar Shah, filed a writ petition under Article 226 of the Constitution of India seeking a mandamus against the Life Insuran...

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Bombay High Court Dismisses Appeal Under Section 37 of Arbitration and Conciliation Act, 1996 — Upholds Arbitral Award Holding Stockbroker Liable for Unauthorized Trades by Agent. Broker Failed to Prove Client Authorization for Disputed Trades, Resulting in Compensation of Rs.14,37,200/- to Client.

The case involves an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, filed by IIFL Capital Services Limited (formerly IIFL Secu...