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Insurance Company cannot refuse to process claim when all formalities was completed: SC
Case Law Details
- Case Name
- Gokal Chand (D) THR. LRS. Vs Axis Bank Ltd. & Anr. (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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Gokal Chand (D) THR. LRS. Vs Axis Bank Ltd. & Anr. (Supreme Court of India)
Conclusion: The Hon’ble Supreme Court directed Insurance Company to process the complainant’s insurance claim and remit the payable sum as all formalities on behalf of deceased was completed. Further, a complete malafide intention was deciphered out from the sequence of events through which Insurance Company was trying to deny all benefits.
Facts: The appeal arises out of a home loan secured by the appellants for which obtaining the life insurance in the name of Gokal Chand (now deceased) was a...
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