The National Insurance Co. Ltd. vs Tej Narain & Others on 9 January, 2019
11. Learned counsel quoted Section 6-VB of the Insurance Act, 1938 which provides that no insurer shall assume any risk till the premium is received in advance. In other words, the insurance cover becomes available only on payment of premium and in the present case premium was paid on 01.11.1993, five days after the accident. Learned counsel for the appellant has relied on the case laws (New India Assurance Company Ltd. Vs. Smt. Sita Bai and Ors.) reported in [2000 (1) TAC 3 (SC)] and another case law (New India Assurance Company Ltd. Vs. Bhagwati Devi & Ors.) reported in [1999 (2) TAC 441 (SC)].