Supreme Court of India
~a Ti on Al Insurance Co. Ltd., Calcutt A v. Life Insurance Corporation of India
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In the result this appeal fails except for the grant of interest.
Judgment, page 24
From the headnote
Life Insurance-Nationalisation-Business vesting in "Life Insurance Corporation-Determination of compensation Principle-Life Insurance Corporation Act, 1956 (31of1956), .•. 16, Sek. l-Life Insurance Corporation Rules, WM, r. 18. The appellant company carried on life insurance business in addition to other insurance business. On the passing of tbe Life Insurance Corporation Act, 1956, which was intnded to n~tionalise all life Insurance business, its 'controlled business' stood vested in the Life . Insurance Corporation of India on and . from September I, 1956, the appointed day. The dispute
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