National Insurance Co. Ltd. vs Takkeda Venkateswara Rao And Ors. on 10 February, 2003
In the case of New India Assurance Co. Ltd. v. Salapuriappa (supra), while dealing with change brought about by a new Act which came into force from 1st July, 1989, whether Section 140 of the new Act has to be given retrospective effect in the sense that it has to be given effect in the case of claims arising out of accident occurring prior to 1st July, 1989 the Division Bench answered in a negative way stating that Section 140 of the Act has no retrospective effect.