SUBIYA DEVI Vs. L.I.C. AND ORS.

JUDGEMENT

(1.) Issue Rule. Mr. Ankur Goel and Mr. Asutosh Lohia, learned Counsels for Respondent No. 1 and 2 respectively, waive notice of rule. With consent of counsels for parties, the matter was heard finally for disposal.

(2.) The petitioner seeks a direction to the Respondent No. 1 (hereafter called "LIC") to disburse the amounts due under its policies issued by it in favour of late Mr. Sagmuni. The undisputed fact is that the petitioner is nominee of the said Mr. Sagmuni.

(3.) The brief facts necessary for deciding the case are that Mr. Sagmuni was an employee of the New Delhi Municipal Council (NDMC). The NDMC had obtained a policy from the LIC; it was known as the 'Salary Saving Scheme'. It assured that in the event of untimely death of the employee covered by the policy and upon fulfillment of other stipulated conditions, an assured amount was payable to the deceased's nominee; in case of the employee's survival throughout the term of the policy, the sum assured was payable to the employee. The relevant terms of the policy are as follows: