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1 - 3 of 3 (0.17 seconds)New India Insurance Co. vs Bhagwati Devi And Ors. on 10 February, 1998
6. The only contention of the learned counsel for the appellant is that as per case of the appellant he submitted the proposal form along with amount of the premium to the agent of the insurance company at 11 a.m. on 2.12.1992. As such, the policy commences from the time of handing over the proposal form and premium to the agent of the insurance company, in view of the provision of Section 64VB of the Insurance Act. As against this, the learned counsel for the respondent No. 3 Mr. S.V. Dandwate submitted that as per the provision of Section 64VB of the Insurance Act, the policy may commence from the time and date when the proposal along with premium was handed over to the agent of the insurance company, but under the same provision, it is mentioned that the risk under the policy shall commence from the time of acceptance of the proposal and issuance of the cover note. He also contended that in view of series of decisions of the Supreme Court, the risk under the insurance policy shall come into force from the time and date mentioned in the cover note or in the policy, as the case may be and in no case prior to that. Reliance is placed on the decision of the Apex Court in case of New India Assurance Co. Ltd. v. Bhagwati Devi, 1999 ACJ 534 (SC).
Section 173 in The Motor Vehicles Act, 1988 [Entire Act]
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