POONAM KHATTAR Vs. LIC OF INDIA

JUDGEMENT

(1.) THE Petitioner seeks a mandatory order against the First Respondent (hereafter called 'LIC') restraining it from deducting the credit/commission earned by her on account of three Policies known as: 'Keyman Insurance' Policies (hereafter 'the policy') issued to cover the seventh Respondent (hereafter called 'the insured').

(2.) THE brief facts of the case are that LIC had framed the policy to insure the risk in respect of the important management personnel or decision makers in companies and organizations. The insurable interest in such persons were to be suitably evaluated and the LIC assured the payment of substantial amounts, in terms of the policy, on the happening of various eventualities -not only confined to death or accident, but additionally, other contingencies.

(3.) THE Respondent No.6 Ms. Swati Chopra addressed a complaint on 25.4.2003, to LIC alleging interference in the issuance of the policy. She too is an LIC agent. According to the contents of the complaint, the insured had secured an earlier Keyman Policy pursuant to a proposal approved on 29.1.2003 after the medical tests prescribed by the LIC's Regulations were completed. Within a day i.e on 30.1.2003 the insured sought withdrawal of the proposal and also followed a request with a reminder dated 7.2.2003. The proposal was accordingly withdrawn and the amount refunded on 13.2.2003. Another Keyman Policy was later issued, at the Petitioner's behest.