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1 - 7 of 7 (0.23 seconds)Section 64VB in The Insurance Act, 1938 [Entire Act]
New India Assurance Co. Ltd. vs Raghu on 25 July, 2001
We
therefore hold that the decision of the Division Bench of
this Court in New India Assurance Co. Ltd. v. Raghu
(2001 (3) KLT 515) does not lay down the correct law.
The position is that the liability of the
Insurance Company in damages for third party risks
continues for the entire period covered by the policy in
spite of the cheque issued towards payment of premium
was dishonoured and consequently policy was
cancelled by the Insurance Company. The remedy of the
Insurance Company lies against the "insured" to have
the amount paid by them by way of compensation for
third party risks to be got reimbursed."
The Motor Vehicles Act, 1988
The Branch Manager The United India ... vs Sundaramma @ Sundra Laxmamma on 22 March, 2010
12. To strengthen her arguments, Ld. Counsel relies upon the case of
United India Insurance Company Limited Vs. Laxmamma and others
(2012) 5 SCC 234 wherein the Apex Court has held as under:-
Oriental Insurance Co.Ltd vs Inderjit Kaur & Ors on 8 December, 1997
18. Moreover, in the case of Inderjit Kaur and others (Supra) the Apex
Court held that despite the bar created by Section 64VB of the Insurance
MAC.APP. 495/2010 Page 8 of 10
Act, the appellant, an authorized insurer, issued a policy of insurance to
cover the bus without receiving the premium. By reason of the provisions
of Section 147(5) and 149(1) of the Motor Vehicles Act, the appellant
became liable to indemnify third parties in respect of the liability which that
policy covered and to satisfy awards of compensation in respect thereof
notwithstanding its entitlement to avoid or cancel the policy for the reason
that the cheque issued in payment of the premium thereon had not been
honoured.
Oriental Insurance Co. Ltd. vs Sivankutty on 8 September, 2005
17. The similar issue came before the High Court of Kerela in the case of
Sivankutty and others (Supra) wherein the Court held that the liability of
the Insurance Company in damages for third party risks continues for the
entire period covered by the policy in spite of the cheque issued towards
payment of premium was dishonoured and consequently policy was
cancelled by the Insurance Company. The remedy of the
Insurance Company lies against the "insured" to have the amount paid by
them by way of compensation for third party risks to be got reimbursed.
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