Supreme Court · 2008 INSC 1071 · Decided 23 September 2008
Deokar Exports PVT. LTD. v. New India Assurance Company LTD.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 1071 · [2008] 14 S.C.R. 1
- Case number
- CIVIL APPEAL No. 5103/2002
- Decided
- 23 September 2008
- Bench
- R.V. RAVEENDRAN, LOKESHWAR SINGH PANTA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Limitation Act Section 14
Headnote
Insurance Act, 1938: A B S. 64 VB - Insurance contract - Effective date - Held.: c Insurer cannot assume risk unless and until premium is re- · ' ceived/guaranteedldeposited - A policy can assume the risk from a retrospective date provided such date is not earlier than the date on in cash or by cheque to insurer - On facts, initial insurance policy expired on D 12.3.1988 - Prf?mium amount for one year received by in­ surer only on 26. 8. 1988 - Under the terms of finance between the borrower and lender-MSFC, uninterrupted and continuous insurance cover was necessary
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