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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...

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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 Dismisses Petition of LIC Agent Challenging Termination and Forfeiture of Renewal Premiums. Suppression of Material Fact Regarding Life Assured's Hospitalization Justifies Termination Under Regulation 16(1) of LIC (Agents) Regulations, 1972.

The petitioner, Ramrao Manikrao Biradar, was appointed as an agent of the Life Insurance Corporation of India (LIC) on 11 April 1989 with agent code N...

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Supreme Court Allows Appeal in Mediclaim Policy Renewal Dispute — Insurer Must Disclose Material Changes in Coverage at Renewal. Renewal of Insurance Policy is Not a Fresh Contract; Insurer Owed Duty to Inform Insured of Restrictive Terms Under Principle of Utmost Good Faith.

The appellants, Jacob Punnen and his wife, held a Mediclaim policy with United India Insurance Co. Ltd. since 1982, renewed annually. In March 2008, t...

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High Court of Bombay at Goa Upholds Conviction for Murder and Destruction of Evidence in Brutal Killing of Mentally Challenged Victim. Life Imprisonment and Fine Affirmed Based on Circumstantial Evidence Including DNA, Recovery of Weapon, and Motive of Insurance Fraud.

The appellant, Janardhan Kokre, was convicted by the Sessions Judge, South Goa, for the murder of Dilip Sadashiv Naik, a mentally challenged person, u...

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Court Dismisses Major Property Claims in Sureshchandra Jhaveri Estate Dispute. Plaintiff awarded partial share in Prabhudarshan flat and specific movable assets; most claims dismissed due to lack of evidence and legal barriers.

The properties and assets of the deceased Sureshchandra Jhaveri, the Plaintiff claimed entitlements to various properties and movable assets, arguing ...

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Supreme Court Upholds Rajasthan’s Authority to Collect Stamp Duty on Insurance Policies. Life Insurance Corporation of India’s Appeal Dismissed on Legislative Competence and Stamp Duty Compliance Grounds.

The Supreme Court of India ruled that the state of Rajasthan has the legislative competence to levy and collect stamp duty on insurance policies issue...