UTTAM SINGH Vs. S KRIPAL SINGH

JUDGEMENT

(1.) A Division Bench has referred the following question of law for determination by this Bench:--

(2.) On behalf of the respondents, it is submitted that this regulation prescribes a disqualification for an employee of the Life Insurance Corporation (hereinafter referred to as the Corporation) from being chosen or for being a member of the Legislative Assembly of the State as it has been made under a law made by Parliament, that is, Life Insurance Corporation Act, 1956 (hereinafter referred to as the Act).

(3.) The Act was enacted to provide for the nationalisation of life insurance business in India by transferring all such business to a Corporation established for the purpose and to provide for the regulation and control of the business of the Corporation and for matters connected therewith or incidental thereto. The Corporation has been established under Section 3 of the Act. It is a body corporate having perpetual succession and a common seal with power, subject to the provisions of the Act, to acquire, hold and dispose of property, and may by its name sue and be sued. Original capital of the Corporation was Rupees five crores which was provided by the Central Government after due appropriation by Parliament. Section 6 states the various functions of the Corporation and is in the following terms:-