First is that LIC is missing an important ingredient which is required for the application of the Section 45 mandating that the person who is applying for a policy “knew at the time” of applying for Insurance Policy, that he is suffering from a disease because only then it will be called a fraud.
Contracts are sacrosanct and that is the reason why we keep so much money in the Banks even though it offers dirt cheap interest rates (currently Banks only offer around 7 % of Fixed Deposits, that too if you deposit money for more than One year, which is not even enough to beat inflation let alone giving some savings to a customer) therefore it is the duty of the Banks also to deal with the Customers with utmost honesty and diligence.
If ESIC wants to effect a recovery from the company it can sell the assets of the company but the personal assets of the Directors are out of reach for it
Therefore property owners should beware that they have a right to enjoy their property to the fullest and if someone creates any hurdle in that enjoyment they can approach the Courts of Law in India to exercise their such right.
P being his only son becomes owner of the Bungalow as per Section 8 of Hindu Succession Act. Now Section 43 comes into picture and W can ask the Court to force P to transfer the Bungalow in his name. This is the true interpretation of Section 43.
In these articles we will understand the meaning of the terms like Issueless, Spes Successionis, Absolute Owner of a Property, Life Interest Holder in a Property, Mutation. Also we will know about the rights of a widow without children before Hindu Succession Act and afterwards i.e. today, who is an absolute owner and who is a life interest holder, what is a Separate Property of a person.
Even if someone gets a property in Will, that beneficiary do not know how to take appropriate proceedings in a Court to receive that property.
