Cs general law
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 August 2013
Subir effects an insurance policy of his own life with the LIC and deposits it with a bank for securing payment of an existing debt. Subir dies and the bank claims the amt for LIC against Subir's heirs.Discuss whether the claim of the bank is maintainable?
CS Pawan Kumar Baid
(Expert)
16 August 2013
No. LIC can't recover. Actionable claim can be transferred only by assignment. In this case, only LIC policy was deposited but not assigned in favour of Bank.
ECONOMIC AND COMMERCIAL LAW for CS (Exe) Course in easy language
To download, click https://www.caclubindia.com/share_files/economic-and-commercial-law-cs-exe-new-syllabus-57442.asp
To Buy click https://www.bookadda.com/books/economic-commercial-law-c-s-9383185139-9789383185139?position=1&searchString=economic+and+commercial+law
ECONOMIC AND COMMERCIAL LAW for CS (Exe) Course in easy language
To download, click https://www.caclubindia.com/share_files/economic-and-commercial-law-cs-exe-new-syllabus-57442.asp
To Buy click https://www.bookadda.com/books/economic-commercial-law-c-s-9383185139-9789383185139?position=1&searchString=economic+and+commercial+law
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Import of Software Service.
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- TAX AUDIT ON PROFESSIONAL INCOME
- GST on Renting godown to KFCSC for Storage of Raagi
- Under marginal scheme
- Oct 2025 Invoices
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
