Court : Supreme Court of India
Reported in : AIR2000SC43; [1999]98CompCas695(SC); 1999(3)CTC558; JT1999(7)SC486; RLW2000(1)SC9; 1999(6)SCALE236; (1999)8SCC229; [1999]Supp3SCR219; 1999(2)LC1536(SC)
..... appeal of the state of orissa was, therefore, allowed.9. lic is a body corporate constituted under the life insurance corporation act, 1956. it has framed regulations under section 49 of the act called the life insurance corporation of india (agents) regulation, 1972. in view of the amendment by the life insurance corporation (amendment) act, 1981 these regulations are now known as rules under the authority of the central government. under clause (b ..... , monthly, of his premiums at concessional rates. deduction of premium from the salary or wages of an employee and its remittance to the life insurance corporation is so beneficial that the recently amended payment of wages act and the minimum wages act make it legally permissible for an employer to do so. on your part, all that the plan involves is a little extra accounting .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : 2001(4)MPHT66; 2001(3)MPLJ246
..... of section 21 of the penal code. he is alleged to have served under the lic which would be a corporation withinthe meaning of the above sub-section. life insurance corporation of india is established under the life insurance corporation act, 1956, therefore, it is a corporation within the meaning of sub-section 12 (b) of section 21 of the penal code. if the applicant ..... me that the applicant was not a member of the staff of lic, therefore, his status has to be determined in accordance with the provisions of the life insurance corporation act and the regulations framed by the lic regarding the conditions of employment of agents. the aforesaid has to be read in the light of relevant provisions of section ..... person is in service of another person. in view of this matter, this court must examine the status of the applicant in relation to the life insurance corporation act, 1956. the applicant is undoubtedly an agent and, therefore, he cannot be said to be a member of the staff of the lic. in the .....
Tag this Judgment!Court : Mumbai
Reported in : 2003(6)BomCR219
..... thereof and respondent nos. 6 to 17 are its trustees. the second respondent - air india, is a government company, incorporated under the india companies act, 1913. the third respondent is the life insurance corporation of india constituted under the life insurance corporation act, 1956. respondent nos. 4 and 5 are the unions representing employees of the respondent no. 2. the facts and circumstances leading upto this petition are ..... any one else. but this provision must be judged in the context of the fact that the contract of life insurance which are entered into by the life insurance corporation of india are backed by a government guarantee which is provided by section 37 of the life insurance corporation act 1956. the payment of annuity is thus properly secured.'16. the court expressly rejected the argument that any improvement .....
Tag this Judgment!Court : Karnataka
Reported in : AIR2002Kant113; ILR2002KAR1400; 2002(2)KarLJ213
..... not entitled to the relief sought in these writ petitions.9. the life insurance corporation of india has framed regulations defining the method of recruitment of agents of the life insurance corporation of india and the terms and conditions of their appointment and work in exercise of their powers under section 49 of the life insurance corporation act, 1956. in the dictionary clause of the regulations, the meaning of the ..... expression 'agent' is defined. it means, a person, who has been appointed under regulation 4 of the regulations and includes an absorbed agent. the appointment of an agent is made by the corporation for the purpose of soliciting or procuring life insurance business for the corporation. regulation 16 of .....
Tag this Judgment!Court : Karnataka
Reported in : ILR2009KAR698; 2009(2)KarLJ273; 2009(1)AIRKarR21
..... please be made against the aforesaid address.' this resignation letter was accepted by the respondent corporation and the petitioner was relieved of his duties. after his resignation from the corporation, under section 49 of the life insurance corporation act, 1956 and with the previous approval of the central government certain staff regulations to the ..... officers and employees came into force. the sum and substance in that any officer or an employee of the financial institution which are in the nature of bank and insurance ..... the relevant point of time was working as senior branch manager in the cadre of class-i officer with the first respondent, life insurance corporation of india (for short, 'the corporation'). the case made out by the petitioner is that he voluntarily retired from service on 07.11.1991 due to some domestic .....
Tag this Judgment!Court : Chennai
Reported in : (1993)ILLJ1030Mad; (1992)IIMLJ573
..... 23, 1992 referring the cases to larger bench on the following reasoning : 'after detailed arguments in which several judgments have been cited showing that the life insurance corporation act, 1956, is a special enactment and under which special terms and conditions of services are created, an attempt has been made to suggest that the provisions ..... , which was decided by a bench of five judges appear to support the attorney general's contention. the question however remains to be answered, does the life insurance corporation act, 1956 as amended in 1981 state any policy to guide the rule making authority we have earlier referred to the observations of mukharjee, j. in the delhi ..... principle that in the case of welfare legislations, the courts should adopt goal-oriented approach has no bearing here as the terms of sec. 48 of the life insurance corporation act are unequivocal and do not admit of any other construction.57. the judgment in union of india v. g. m. kokil : (1984)iillj20sc is really .....
Tag this Judgment!Court : Delhi
Reported in : 1983RLR642
..... of employment had to be and were taken care of by s. 11(2) of the life insurance corporation act, 1956. the obvious purpose of this provision was to enable the corporation initially to absorb the motley multitudes from many companies who carried with them varying incidents of ..... corporation and its policy- holders required such reduction or revision. answering the question whether the provision was confined to transferred employees or extends to all employees generally, it was held that the provision was confined to transferred employees, being a part of the scheme enacted in chapter iv providing for the transfer of existing life insurance business from the insurers ..... of service applicable to transferred employees. the learned judge commented, 'predictably when the transferred employees of different insurers were brought together in common employment under the corporation they would have been enjoying different scales of remuneration and other terms and conditions of service. the power .....
Tag this Judgment!Court : Allahabad
Reported in : [1970]40CompCas611(All); [1971(21)FLR357]; (1970)IILLJ393All
..... swarup's contention that regulations of this kind have not the force of law. 36. the power conferred on the life insurance corporation of india by section 49 of the life insurance corporation act, 1956, is similar to thepower conferred on the warehousing corporation by section 54 of act no. 28 of 1956. we may, therefore, assume with the respondents that regulation no. 25 made by respondent no. i ..... educational and economic interests of the people. the life insurance corporation of india has been established by the life insurance corporation act, 1956. the corporation consists of persons nominated by the central government. the original capital of the corporation was supplied by the central government. the function of the corporation is to develop life insurance business to the best advantage of the community. the corporation has been empowered to make regulations. in view .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1963SC900; [1963]33CompCas289(SC); [1963]48ITR144(SC); [1963]Supp(1)SCR980
..... carry on both life and other kinds of insurance business. it was what is called in the life insurance corporation act, 1956, a 'composite insurer'. 2. the respondent corporation was created by this act on september 1, 1956, and under s. 7 of the act the terms of which we will have to set out later, all rights appertaining to the life insurance business of an insurer, which in the act is called the ..... 'controlled business', because vested in the respondent corporation on the appointed day .....
Tag this Judgment!Court : Kerala
Reported in : AIR1960Ker251
..... .the petitioner's complaint is, that the terms and conditions of his service with the former insurance companies as divisional manager, which were guaranteed by sections 11(1) of the life insurance corporation act, 1956, or simply the act, have thereby been altered to his disadvantage, and he therefore seeks a writ of mandamus or ..... other appropriate writ, direction or order 'to assign... his legitimate place in the corporation ..... with due reference to the post he was ..... order. 1957 dated the 30th december, 1957, issued by the central government, in purported pursuance of sections 11(2) of the act, as amended by the life insurance corporation (amendment) act, 1957 (act 17 of 1957). the petitioner has a contention, that ext. r-4 is ultravires, being in contravention of the prescriptions in sections .....
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