Amrendra Malviya v. Life Insurance Corporation of India, through its Chairman-cum-Managing Director, Mumbai
2015-01-06
SHREE CHANDRASHEKHAR
body2015
DigiLaw.ai
Order Seeking direction upon the respondent Life Insurance Corporation of India, the petitioner claiming himself the legal guardian of Akshita aged about 5 years, for release of amount in Policy Nos. 554032032, 554032033 and 554770418, has preferred the present writ petition. 2. Briefly stated, the petitioner, after the death of his younger brother namely Akshay Kumar and his wife namely, Anita Malviya in a road accident on 29.09.2009, filed Guardianship Case No. 18 of 2010 seeking a declaration and for his appointment as legal guardian of minor child namely, Akshita who survived the road accident in which her parents succumbed to injury. Vide order dated 24.08.2011 in Guardianship Case No. 18 of 2010, the petitioner was declared and appointed as legal guardian of the only minor child of his younger brother namely, Akshay Kumar. The said Akshay Kumar and his wife had Life Insurance Policies and the amount in Policy No. 551458638 though was released in favour of the mother of the petitioner who was made nominee by the deceased-brother of the petitioner, with respect to other policies the payments were not made. In the meantime, the mother of the petitioner also died. The petitioner made several communications for release of money however, he has been asked to produce Succession Certificate. Though, the petitioner has been declared legal guardian of the minor namely, Akshita and the petitioner made further request for transmitting the amount in different policies, in the account opened in the name of minor namely, Akshita under the guardianship of the petitioner however, the respondent-Corporation has not taken decision in this regard and therefore, the petitioner has approached this Court by filing the present writ petition. 3. Heard the learned counsel for the parties. 4. The learned counsel appearing for the petitioner submits that in view of order dated 24.08.2011 in Guardianship Case No. 18 of 2010, the insistence of the Life Insurance Corporation of India for producing Succession Certificate is not justified. To a pointed query, whether the amount in different policies taken by the parents of the minor Akshita can be deposited in a fixed deposit account, Mr. Sachin Kumar, the learned counsel appearing for the respondent-Life Insurance Corporation of India submits that if the other legal heirs of the deceased Akshay Kumar submits affidavit relinquishing their claim with respect to amount involved in the policies bearing nos.
Sachin Kumar, the learned counsel appearing for the respondent-Life Insurance Corporation of India submits that if the other legal heirs of the deceased Akshay Kumar submits affidavit relinquishing their claim with respect to amount involved in the policies bearing nos. 554032032, 554032033 and 554770418, and a direction is given to the respondent-Life Insurance of India to deposit the amount in fixed deposit in the name of minor child namely, Akshita, the requirement in law would stand satisfied. 5. Accordingly, the petitioner is directed to submit affidavit on behalf of other surviving legal heirs of the policy holder of the aforesaid policies within a period of four weeks and other relevant documents, if any. After such affidavit is submitted by the petitioner, the respondent nos. 2 & 3 would ensure that the amount involved in the aforesaid policies is released within a period of next two weeks and the said amount be deposited for a period of five years in fixed deposit account in the name of minor child namely, Akshita under the guardianship of the petitioner. After the period of five years, the entire amount would be transferred in the Saving Bank Account opened in the name of minor namely, Akshita under the guardianship of the petitioner. However, in the event of any exigency or emergency, the petitioner may approach this Court for withdrawal of the amount deposited in fixed deposit, in the interest of and for the expenses for the minor. 6. The writ petition is disposed of in the aforesaid terms. Appeal disposed of.