JUDGMENT :

R.F. Nariman, J.

Mr. T.N. Singh, learned counsel appearing on behalf of the appellant-Nagar Nigam has assailed the judgment of the Allahabad High Court in which the respondent-Life Insurance Corporation of India was held not to be covered by the expression "insurance company" under a notification dated 30.01.1999 issued by the appellant.

2. The judgment under appeal has held:

"We also notice that in Item No. 25 of the Schedule annexed with the Nagar Nigam, Allahabad Notification dated 13.01.99/Annexure-2 to the writ petition without an exception various establishments, undertakings etc. are all in essence pure and simple business or commercial units. In category Ga, Serial No.1 of the list refers to Finance Company/Chit Fund. It is followed by Item No.2 referring to Insurance Company '(each Branch)'. It goes to show that respondents provided license fee with respect to business of a Company in the nature of 'Financial Companies' 'Chit Fund Companies' and the like Insurance Companies dealing in general insurance (i.e. other than Life Insurance-exclusively carried on by LIC of India).

Aforesaid conclusion is further discernible from the fact that the list does not embarrass in