K.PANDIAN Vs. CHAIRMAN LIC OF INDIA

JUDGEMENT

(1.) THE petitioner was appointed as an Agent by order dated 30.06.1992 under Rule 4 of the Life Insurance Corporation of India (Agents) Rules, 1972 (hereinafter referred to as "the Rules). In terms of the appointment order, the petitioner discharged his functions to solicit and procure new insurance business. During his tenure, in the month of March 2003, the petitioner had introduced proposals for Rs.5 lakhs each under "Anmol Jeevan Plan " which were completed under policy numbers mentioned here under: - <FRM>JUDGEMENT_305_MADLJ8_2013.htm</FRM>

(2.) WHILE so, on 19.03.2004, Mr.Poornachandran made a complaint to the Life Insurance Corporation of India (hereinafter referred to as "the L.I.C., of India ") that neither he signed any proposal nor undertaken any medical examination to take the above Insurance policy. In effect, he disowned the policy. Thereafter, according to the respondents, the signatures in the policy records of various policies were sent for examination by a Forensic Expert and discreet enquiry was also held. It was found that the signatures in the proposal forms made in respect of the above policies were not made by the policy holders. A show cause notice was therefore issued on 16.03.2005 to the petitioner. Challenging the said show cause notice, the petitioner filed a writ petition before this Court in W.P.No.2556 of 2005. By order dated 30.03.2005, this Court while dismissing the writ petition, permitted the petitioner to submit his explanation for the said show cause notice dated 16.03.2005 within a period of 30 days. Accordingly, the petitioner submitted his explanation on 14.04.2005. Thereafter, final order terminating the petitioner 's Agency was issued by the Senior Divisional Manager/Disciplinary Authority under Rules 16(1)(a) and 16(1)(b)of the Rules.

(3.) I have heard the learned counsel for the petitioner and the learned Senior Counsel appearing for the respondents and I have also perused the records carefully.