Search Results for "non-disclosure of material facts"

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Claim Repudiation — Non-Disclosure of Material Facts — Substantial Disclosure — Prudent Insurer Test — Reinstatement of Insurance Benefits with Interest

The Supreme Court held that the non-disclosure of additional policies did not amount to material suppression because the disclosed policy itself had a...

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High Court Quashes Reassessment Notice Against Bank for AY 2015-16; Holds Notice Based on "Change of Opinion" Invalid. Failure to demonstrate non-disclosure of material facts renders reassessment notice issued after four years unsustainable.

The High Court quashed a reassessment notice issued to a bank for the Assessment Year 2015-16, holding that the notice was based solely on a change of...

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Supreme Court Dismisses Appeal in Insurance Claim Dispute — Policy Cancellation Upheld Due to Non-Disclosure of Material Facts. Insured failed to disclose pre-existing health condition and pending litigation, rendering policy void ab initio under Section 45 of Insurance Act, 1938.

The appellant, a company, had taken an insurance policy from the respondent insurer. The policy was issued on 15.10.2010. However, on 17.10.2010, a me...