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BARE ACTS

Supreme Court (SC) Judgements on Insurance Act, 1938

Bare Act Title Category / State
Insurance Act, 1938 Insurance Laws
 

List of Judgements

SBI General Insurance Company Ltd. Vs. Krish Spinning

Judgement Date : july/2024, Citation : 2024 Latest Caselaw 452 SC

New India Assurance Company Ltd. through its Manager Vs. Tata Steel Ltd.

Judgement Date : april/2024, Citation : 2024 Latest Caselaw 285 SC

S. Rajaseekaran Vs. Union of India & Ors. Vs. Kishan Chand Jain

Judgement Date : january/2024, Citation : 2024 Latest Caselaw 33 SC

Shakti Yezdani & Anr. Vs. Jayanand Jayant Salgaonkar & Ors.

Judgement Date : december/2023, Citation : 2023 Latest Caselaw 931 SC

New India Assurance Company Ltd. & Ors. Vs. Mudit Roadways

Judgement Date : november/2023, Citation : 2023 Latest Caselaw 884 SC

Life Insurance Corporation of India Vs. Dravya Finance Pvt. Ltd. & Ors.

Judgement Date : september/2023, Citation : 2023 Latest Caselaw 702 SC

Nedumpilli Finance Company Ltd. Vs. State of Kerala & Ors.

Judgement Date : may/2022, Citation : 2022 Latest Caselaw 412 SC

United India Insurance Co. Ltd. Vs. Levis Strauss (India) Pvt. Ltd.

Judgement Date : may/2022, Citation : 2022 Latest Caselaw 372 SC

Haris Marine Products Vs. Export Credit Guarantee Corporation (ECGC) Ltd.

Judgement Date : april/2022, Citation : 2022 Latest Caselaw 350 SC

Jacob Punnen Vs. United India Insurance Company Ltd.

Judgement Date : december/2021, Citation : 2021 Latest Caselaw 659 SC

Khatema Fibres Ltd. Vs. New India Assurance Company Ltd.

Judgement Date : september/2021, Citation : 2021 Latest Caselaw 442 SC

National Insurance Company Ltd. Vs. M/s. Hareshwar Enterprises (P) Ltd.

Judgement Date : august/2021, Citation : 2021 Latest Caselaw 346 SC

Asset Reconstruction Company (India) Limited Vs. Bishal Jaiswal

Judgement Date : april/2021, Citation : 2021 Latest Caselaw 204 SC

Headnote :

The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Section 13, along with the Insolvency and Bankruptcy Code, 2016, Section 7, and the Limitation Act, 1963, Section 18, addresses whether entries in balance sheets constitute an acknowledgment o...

ARUNA OSWAL vs. PANKAJ OSWAL

Judgement Date : july/2020, Citation : 2020 Latest Caselaw 416 SC

Headnote :

CRUCIALThe determination of shareholding inheritance cannot be resolved in proceedings under sections 241/242 of the Companies Act before the NCLT.A. According to Section 72 of the Companies Act, 2013 - Shareholding - Nomination - Every security holder has the right to nominate an individual to whom...

ORIENTAL INSURANCE CO.LTD vs. M/S J.K.CEMENT WORKS

Judgement Date : january/2020, Citation : 2020 Latest Caselaw 85 SC

Headnote :

IMPORTANTConsumer Protection - The flood and inundation clause in Standard Fire and Special Perils insurance policies covers damage resulting from heavy rainfall.According to the Consumer Protection Act of 1986, Section 23, regarding damage to coal stock due to heavy rains - under the Standard Fire...

Ashatai W/o. Anand Duparte Vs. Shriram City Union Finance Ltd.

Judgement Date : april/2019, Citation : 2019 Latest Caselaw 394 SC

Indrani Wahi Vs. Registrar of Coop. Societies & Ors. [MARCH 10, 2016]

Judgement Date : march/2016, Citation : 2016 Latest Caselaw 233 SC

LIC of India Vs. Insure Policy Plus Services Pvt. Ltd. & Ors [December 29, 2015]

Judgement Date : december/2015, Citation : 2015 Latest Caselaw 843 SC

National Insurance Company Ltd. Vs. Balakrishnan & Another [November 20, 2012]

Judgement Date : november/2012, Citation : 2012 Latest Caselaw 648 SC

Bar Council of India Vs. Union of India [August 03, 2012]

Judgement Date : august/2012, Citation : 2012 Latest Caselaw 402 SC

United India Insurance Co. Ltd. Vs. Laxmamma & Ors. [APRIL 17, 2012]

Judgement Date : april/2012, Citation : 2012 Latest Caselaw 230 SC

New India Assurance Co. Ltd. Vs. Rula & Ors [2000] INSC 108 (7 March 2000)

Judgement Date : march/2000, Citation : 2000 Latest Caselaw 107 SC

New India Assurance Co. Ltd. Vs. Rula & Ors [2000] INSC 106 (7 March 2000)

Judgement Date : march/2000, Citation : 2000 Latest Caselaw 105 SC

Smt. Pushpa Devi & Ors Vs. Milkhi Ram [1990] INSC 30 (8 February 1990)

Judgement Date : february/1990, Citation : 1990 Latest Caselaw 30 SC

Headnote :

The landlord who is the respondent filed an eviction petition against the appellants under section 13 of the East Punjab Urban Rent Restriction Act, 1949, citing reasons such as unpaid rent, sub-letting, and making significant alterations that affected the building\'s utility. During the initial hea...

Commissioner of Wealth Tax, Punjab, J & K, Chandigarh, Pati Vs. Yuvraj Amrinder Singh [1985] INSC 227 (8 October 1985)

Judgement Date : october/1985, Citation : 1985 Latest Caselaw 227 SC

Headnote :

The two individuals were assessed for wealth tax separately under the Wealth Tax Act of 1957. Each had purchased an annuity policy and sought to exempt its value under section 5 (1) (vi) of the Act, arguing that annuity policies qualify as \"any policy of insurance\" as stated in that provision.The...

Smt. Sarabati Devi & ANR Vs. Smt. Usha Devi [1983] INSC 194 (6 December 1983)

Judgement Date : december/1983, Citation : 1983 Latest Caselaw 194 SC

Headnote :

The appellants, a mother and son of Jagmohan Swarup, who was subject to the Hindu Succession Act, 1956, filed Civil Suit No. 122 of 1970 in the court of the First Additional Civil Judge, Dehradun, after he passed away intestate on June 15, 1967. They sought a declaration that they were entitled to a...

Neptune Assurance Co. Ltd. & Ors Vs. Union of India & ANR [1972] INSC 277 (10 November 1972)

Judgement Date : november/1972, Citation : 1972 Latest Caselaw 277 SC

Headnote :

The first petitioner was a public limited company incorporated under the Indian Companies Act. The second and third petitioners were shareholders and directors of the first petitioner. Up to the end of March, 1971 the petitioner company was registered under the Indian Insurance Act, 1938. The regist...

Union Co-Operative Insurance Society Ltd., Bombay Vs. Commissioner of Income-Tax, Bombay [1967] INSC 72 (23 March 1967)

Judgement Date : march/1967, Citation : 1967 Latest Caselaw 72 SC

Headnote :

The appellant company was engaged in the general insurance business.One of the company\'s bye-laws permitted the payment of a bonus when a policy was renewed and there had been no claims in the previous year. However, the company did not record the bonus payments in its profit and loss account for t...

Commissioner of Income-Tax, Madras Vs. Prithvi Insurance Co. Ltd. [1966] INSC 231 (26 October 1966)

Judgement Date : october/1966, Citation : 1966 Latest Caselaw 232 SC

Headnote :

The respondent company was engaged in both life and general insurance. During the assessment proceedings for the fiscal year 1951-52, the Income-tax Officer determined that the life insurance and general insurance operations of the company were \'distinct and separate\'. Consequently, the loss carri...

Chandulal Harjivandas, Jamnagar Vs. Commissioner of Income-Tax, Gujarat [1966] INSC 221 (14 October 1966)

Judgement Date : october/1966, Citation : 1966 Latest Caselaw 222 SC

Headnote :

In 1959, the father of the assessee initiated a policy known as Children\'s Deferred Endowment Assurance, with the life assured being the minor assessee.According to the insurance contract, the Life Insurance Corporation of India was obligated to pay the assured sum (a) on the specified maturity dat...

Damji Valji Shah & ANR Vs. Life Insurance Corporation of India & Ors [1965] INSC 95 (8 April 1965)

Judgement Date : april/1965, Citation : 1965 Latest Caselaw 95 SC

Headnote :

The Insurance Act of 1938 (s. 10) addresses the transfer of funds from the Life Insurance Fund to the General Department of a composite insurer, examining its legality.The appellants served as directors of an insurance company that operated as a composite insurer, engaging in various types of life i...

Commissioner of Income-Tax, West Bengal, Calcutta Vs. Calcutta Hospital and Nursing Home Benefits Association [1965] INSC 91 (2 April 1965)

Judgement Date : april/1965, Citation : 1965 Latest Caselaw 91 SC

Headnote :

The respondent Association operated as a mutual insurance entity engaged in various insurance activities. Its objectives included providing assistance globally for accommodation and treatment expenses in nursing homes for its members and their dependents. Members were required to pay a monthly premi...

Life Insurance Corporation of India Vs. Crown Life Insurance Co [1965] INSC 83 (26 March 1965)

Judgement Date : march/1965, Citation : 1965 Latest Caselaw 83 SC

Headnote :

According to section 10(2) of the Insurance Act, 1938, when an insurer operates in the life insurance sector, all receipts related to this business must be allocated to a distinct fund known as the life insurance fund. Section 11(c) mandates the maintenance of a revenue account in Form D of the Thir...

Pandhyan Insurance Co. Ltd. Vs. Commissioner of Income-Tax, Madras [1964] INSC 208 (29 September 1964)

Judgement Date : september/1964, Citation : 1964 Latest Caselaw 208 SC

Headnote :

The appellant, a company engaged in general insurance, constructed a significant modern building at a cost of approximately Rs. 12,00,000 towards the end of 1952. In the accounting year of 1953, it claimed a depreciation write-off of around Rs. 1,00,000 for various items. However, the Income-tax Off...

Life Insurance Corporation of India Vs. S. Vs. Oak & ANR [1964] INSC 205 (29 September 1964)

Judgement Date : september/1964, Citation : 1964 Latest Caselaw 205 SC

Headnote :

The respondents had deposited funds with a mutual life assurance company. The Controller of Insurance instructed that these deposits should be repaid from future valuation surpluses, to which the respondents consented. However, the insurance company did not report any valuation surplus as determined...

Life Insurance Corporation Ltd. Vs. Commissioner of Income-Tax, Delhi & Rajasthan [1963] INSC 244 (9 December 1963)

Judgement Date : december/1963, Citation : 1963 Latest Caselaw 272 SC

Headnote :

The appellant moved a specific sum from its Consolidated Revenue Account to the Investment Reserve Fund, a move it was authorized to make. This transfer resulted in a decrease in the appellant\'s taxable surplus. The Income-tax Officer instructed the appellant to lower the transfer by a specified am...

The General Assurance Society Ltd. Vs. The Life Insurance Corporation of India [1963] INSC 207 (18 October 1963)

Judgement Date : october/1963, Citation : 1963 Latest Caselaw 235 SC

Headnote :

Upon the enactment of the Life Insurance Corporation Act, which mandated the nationalization of the life insurance sector, the 126 controlled businesses, including the life insurance operations of the appellant, a composite insurer, were transferred to the respondent corporation. Subsequently, dispu...

Dr. A. Lakshmanaswami Mudaliar& Ors Vs. Life Insurance Corporation [1962]360 (11 December 1962)

Judgement Date : december/1962, Citation : 1962 Latest Caselaw 360 SC

Headnote :

On July 15, 1955, during an Extraordinary General Meeting of the shareholders of the United India Life Assurance Company Ltd., a resolution was passed, among other matters, approving a donation of Rs. 2 lakhs from the Shareholders\' Dividend Account to a proposed Trust aimed at promoting technical a...

The Neptune Assurance Co. Ltd. Vs. The Life Insurance Corporation of India & ANR [1962] INSC 304 (8 November 1962)

Judgement Date : november/1962, Citation : 1962 Latest Caselaw 304 SC

Headnote :

The appellant company was engaged in both life insurance and other types of insurance. With the enactment of the Life Insurance Corporation Act, 1956, section 7 stipulated that all rights related to the life insurance business of an insurer would be transferred to the Corporation on the appointed da...

R. K. Dalmia Vs. Delhi Administration [1962] INSC 124 (5 April 1962)

Judgement Date : april/1962, Citation : 1962 Latest Caselaw 124 SC

Headnote :

The appellant Dalmia served as the Chairman of the Board of Directors and Principal Officer of Bharat Insurance Company, while appellant Chokhani acted as its agent in Bombay. Appellant Vishnu Prasad, Chokhani\'s nephew, was the nominal owner of Bhagwati Trading Company, but Chokhani managed its ope...

Mithoolal Nayak Vs. Life Insurance Corporation of India [1962] INSC 4 (15 January 1962)

Judgement Date : january/1962, Citation : 1962 Latest Caselaw 4 SC

Headnote :

In 1942, an individual referred to as M submitted a life insurance proposal. Dr. D conducted an examination and provided two reports: one attached to the proposal and a confidential one. The confidential report revealed that M was suffering from anemia, had a dilated heart, and his right lung showed...

Shyamapada Chakrabertty & Ors Vs. The Controller of Insurance, Government of India [1961] INSC 354 (13 December 1961)

Judgement Date : december/1961, Citation : 1961 Latest Caselaw 354 SC

Headnote :

In a petition filed under Article 226 of the Constitution to contest the legitimacy of a life insurance company\'s business transfer to another company as per Section 36 of the Insurance Act, 1938, it was determined that although the transfer resulted in the cessation of the company\'s business, it...

The State of Bombay Vs. S. L. Apte & ANR [1960] INSC 284 (9 December 1960)

Judgement Date : december/1960, Citation : 1960 Latest Caselaw 284 SC

Headnote :

According to Article 20(2) of the Constitution, \"No individual shall be prosecuted or punished for the same offense more than once.\" Section 26 of the General Clauses Act, 1897 states, \"If an act or omission constitutes an offense under two or more laws, the offender may be prosecuted and punishe...

Workmen of The Hercules Insurance Co., Ltd. Vs. Hercules Insurance Co., Ltd., Calcutta [1960] INSC 272 (7 December 1960)

Judgement Date : december/1960, Citation : 1960 Latest Caselaw 272 SC

Headnote :

Given the absolute prohibition outlined in section 31A(1)(c) of the Insurance Act, 1938 against the payment of bonuses to employees in the general insurance sector, the exception provided in proviso (vii) to that section must be strictly limited to the boundaries set by that proviso.The rationale be...

The Vanguard Fire and General insurance Co. Ltd., Madras Vs. M/S. Fraser and Ross & ANR [1960] INSC 104 (4 May 1960)

Judgement Date : may/1960, Citation : 1960 Latest Caselaw 104 SC

Headnote :

The appellant company had been engaged in various types of insurance business, excluding life insurance, since its incorporation in 1941. However, in 1956, the company\'s shareholders passed a resolution to cease all insurance operations. Consequently, the company applied to the Controller of Insura...

The Commissioner of Excess Profits Tax, West Bengal Vs. The Ruby General Insurance Co. Ltd. [1957] INSC 39 (24 April 1957)

Judgement Date : april/1957, Citation : 1957 Latest Caselaw 39 SC

Headnote :

The respondent was a company engaged in life, fire, marine, and general insurance, and the issue at hand was the assessment of excess profits tax on its income derived from sources other than life insurance. The company’s approach to fire insurance policies involved including all received premiums...

General Family Pension Fund Vs. The Commissioner of Income-Tax, West Bengal [1954] INSC 108 (1 November 1954)

Judgement Date : november/1954, Citation : 1954 Latest Caselaw 108 SC

Headnote :

The Indian Income-tax Act (XI of 1922), section 10(7) and schedule Rule 2(a)(b) as published in 1939 outlines how income tax is determined for insurance companies. According to this act, the profits and gains from Life Insurance business for the fiscal years 1943-1944 to 1946-1947 must be calculated...