Court : Chennai
Reported in : (1975)2MLJ122
ORDERS. Natarajan, J.1. These two appeals, arising out of O.P. No. 4 of 1971 and O.P. No. 53 of 1970 on the file of the Court of the District Judge of North Arcot at Vellore, involve common questions of law.2. In C.M.A. No. 475 of 1971, the appellant, a former President of the Kizhchettipattu Panchayat Board, was surcharged by the Auditor, by his order dated 30th September, 1970 a sum of Rs. 649-71P. on the ground the appellant had not spent the entire sum of Rs. 3,089-15P. drawn by him from the Panchayat funds for road Work, but had spent only Rs. 2,439-44P. and consequently, the appellant had to make good the loss of Rs. 649-71P. caused to the Panchayat. In C.M.A. No. 476 of 1971, the appellant, who was the President of Ammoor Panchayat from 1958 to 1965, was surcharged by the Auditor a sum of Rs. 715-73P by his order dated 28th June, 1970 on the ground the appellant had not brought into account the usufructs of some tamarind trees belonging to the Panchayat which had been taken on l...
Tag this Judgment!Court : Chennai
Reported in : AIR1977Mad72
..... long as such commission would have been payable had such insurance agent been alive. when the life insurance corporation act, 1956, was passed, under which the first respondent was constituted, section 43 of that act provided for the application of certain provisions of the insurance act to the corporation. sub-section (1) of section 43 enumerated certain sections of the insurance act which shall apply to the corporation as they applied to any other insurer, and sec. 44 is not one of the sections mentioned in section 43(1). therefore section 44 to which i have drawn attention did not apply to the life insurance corporation straightway by virtue of section 43(1) of the life insurance corporation act. section 43(2) conferred power on the central government to direct by notification in the official gazette .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]112ITR111(Cal)
..... section 269 of the income-tax act which was invoked by the said authority had no application. it was pointed out that the pre-requisite condition for assumption of jurisdiction by the said authorities were not satisfied in this case.4. it was further pointed out to the said authority that the rights and obligations of the previous agreement dated 30th december, 1947, entered into between the said hindusthan building society ltd. and the said hindusthan co-operative insurance society ltd. devolved on the life insurance corporation of india upon nationalisation of the insurance business in terms of the said life insurance act, 1956 ..... asst. government of indiacommissioner of office of the......income-tax, acquisition dated 18-6-73range-ii, calcutta. 2. whereas, i, m. n. tiwary, being the competent authority under section 269b of the income-tax act, 1961 (43 of 1961), have reason to believe that the immovable property, having a fair market value exceeding rs. 25,000 and bearing no. 29/na (e.p. & w.p ..... acquisition of the aforesaid property in terms of chapter xxa of the income-tax act, 1961 (43 of 1961), have been recorded by me;now, therefore, in pursuance of section 269c, i hereby initiate proceedings for the acquisition of the aforesaid property by the issue of thisnotice under sub-section (1) of section 269d of the income-tax act, 1961 (43 of 1961), to the following persons, namely-(i) m/s. life insurance corporation of india, (ii) m/s. hindusthan building society ltd. (confirming .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1976SC308; (1976)4SCC622; [1977]1SCR1017; 1976(8)LC956(SC)
..... fixed the annual value at rs. 43,405.20. he held that, in view of the 'non-obstante' clause in section 138 (b) of the madhya pradesh municipal corporation act, 1956, hereinafter referred to as the act, there was no justification for the argument that the rental value of the premises could not be fixed at a rate higher than the standard rent under section 7 of the madhya pradesh accommodation control act, 1961. an appeal was taken to the second additional district judge, but without success. the respondents then filed an application for revision, which was allowed by the impugned judgment of the high ..... in spite of the non-obstante clause and to limit the annual value to any standard rent that the building might fetch under that act.7. we have also gone through corporation of calcutta v. life insurance .corporation of india (supra). that was also a case where the premises had been let out on rent. the standard rent had also been fixed, and that was why padma debi's case (supra) was held to be applicable.8. so also, guntur municipal council v. guntur town rate payers' association (supra) was a case where the premises were on rent and there also .....
Tag this Judgment!Court : Chennai
Reported in : (1977)ILLJ211Mad
..... of art. it) of the constitution.29. point no. 1: the act (life insurance corporation act of j956) is an act to provide for the nationalisation of life insurance business in india by transferring all such business to a corporation establish-ed for the purpose and to provide for regulation and control of the business of the corporation and for matfers connected therewith or incidental thereto. by a notification this act came into force on 1st july, 1956. by virtue of section 3 of the act, the life insurance corporauon of india was established with effect from 1st of september, i9j6. the corporation is essentially a business organisation is evident by a reading of section 6 of the act. by the application of section 7 on 1-9-1956, a transfer of all the assets and liabilities appertaining to the controlled business ..... . instead an order could not be passed so to drastically affect the remuneration. where the officer is sought to be 4ealt with individually, of course, disciplinary action can be taken, but where a business organization like the life insurance corporation in the interest of the corporation and the policy-holders, effects a reduction' of the salaries or the terms and conditions it deals with a class of persons and not individually.43. the figures furnished in paragraph 21 of the affidavit in support of the writ petition show that it remained at the rate of rs. 25,000 per year between 1955-58. this only .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1979P& H183
S.S. Sandhawalia, C.J.1. Whether the National Insurance Company Limited is ''a State'' for the purposes of Art. 12, or a statutory Corporation amenable to the writ jurisdiction under Article 226 of the Constitution of India, is the somewhat significant question which arises on the very threshold in this writ petition.2. The issue being pristinely legal, the f acts pale into relative insignificance. Suffice it to mention that the petitioner, who is the Branch Manager of the National Insurance Company Limited, claims to be aggrieved by his alleged supersession by officers junior to him and therefore, invokes Art. 16 of the Constitution in his aid. Further a grievance is made about a marginal reduction in his basic salary, which, has been labelled as reduction in rank, for which' the remedy is sought for in the writ jurisdiction under Art. 226 of the Constitution of India.3. Apart from the merits, a significant preliminary objection to the very maintainability of the writ petition has bee...
Tag this Judgment!Court : Kerala
Reported in : (1979)IILLJ1Ker
Viswanatha Iyer, J.1. The petitioner entered the service of the Cochin Divisional office of the General Assurance Society Ltd., as a field officer with effect from 1.10.1969. One of the terms of appointment was that she should guarantee a minimum business of Rs. 35,000 in Fire, Motor, Marine and Miscellaneous Insurance and a minimum premium income of Rs. 3,000 per mensem. As part of her duty she has to organise an effective agency force and work in consonance with the provisions of the Insurance Act and the Rules. She was on probation for six months and during that period her appointment was terminable without any notice. She completed her probation successfully and her service was regularised in due course. While so in September, 1972 the General Insurance Business (Nationalisation) Act, Act 57 of 1972 was passed by the Parliament. By this Act the shares in the capital of every Indian Insurance Company was statutorily transferred to and vested in the Central Government. The Central Go...
Tag this Judgment!Court : Gujarat
Reported in : AIR1981Guj15; (1981)0GLR206
Sheth, J.1. The Petitioner is the Executive Trustee of Consumer Education and Research Centre (hereinafter referred to as the 'Centre' for the sake of brevity) at Ahmedabad. He has filed this petition as a citizen of India and also in his capacity as the Executive Trustee. The Centre published a study entitled 'A fraud on policy-holder'. It is not disputed that it was a scientific research made into the working of the Life Insurance Corporation (hereinafter referred to as the 'Corporation' for the sake of brevity). This study tried to portray and establish the discriminatory practices which the Corporation is alleged to have adopted and which adversely affect a large number of policy-holders their investment policies, their expense ratio, availability of term insurance and other cognate matters. Mr. N. C. Krishnan who is a Director of the Corporation wrote a reply to it. His reply was published in The Hindu on 6th November 1978. In that reply, he tried to challenge the conclusions reco...
Tag this Judgment!Court : Kolkata
Reported in : (1982)1CompLJ52(Cal),[1981]131ITR578(Cal)
M.M. Dutt, J.1. In this appeal, the revenue has challenged the propriety of the judgment of R. M. Datta J. : [1978]112ITR111(Cal) whereby the learned judge has made the rule nisi obtained by the respondent No. 1, Smt. Bani Roy Chowdhury, on her application under Article 226 of the Constitution, absolute.2. By a registered conveyance dated December 11, 1972, the respondent No. 1 purchased from the respondent No. 4, the Life Insurance Corporation of India, two plots of laud being plots Nos. 29/NA (E. P.) and 29/NA (W. P.) of Block B of the New Alipore Development Scheme, measuring 7 cottahs, at Rs. 5,000 per cottah. In the conveyance, the respondent No. 5, Hindusthan Building Society Ltd., was the confirming party. The said Society having been the controlled business of the Hindusthan Co-operative Insurance Society Ltd., its assets and liabilities were transferred to and vested in the Life Insurance Corporation of India on the appointed day, namely, September 1, 1956, by virtue of Sectio...
Tag this Judgment!Court : Rajasthan
Reported in : 1982WLN321
..... , march, 1981) an act further to amend the life insurance corporation act, 1956.whereas for securing the interests of the life insurance corporation of india and its policy holders and to control the cost of administration, it is necessary that revision of the terms and conditions of service applicable to the employees and agents of the corporation should be undertaken expeditiously;be it enacted by parliament in the thirty second year of the republic of india as follows:1. (i) this act may be called the life insurance corporation (amendment) act, 1981.(2) it shall be deemed to have come into force on the 31st day of january, 1981.2. in the life insurance corporation act, 1956 (hereinafter referred to as the principal act), in section 48:(a) in sub-section (2), after ..... and tire. the fire has sparked of on the ashes of 1971 tripartite agreements funeral after bunal of the 'blue order' and now the traditional fact.8. this is a bunch of 43 writ petitions (as per schedule a) filed by the development officers of the life insurance corporation of india. the life insurance corporation of india was established under the life insurance corporation act, 1956 (here in after referred to as 'the act') with effect from 1st september, 1956; due to historical nationalisation wave.9. the life insurance corporation (here in after l i c ) introduced a self-contained code of work-norms in 1976 with in-built incentives and disincentives. there were protests .....
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