Insurance Company cannot refuse to process claim when all formalities was completed: SC

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 pre­requisite, ...