( 1 ) THIS is a petition filed by the petitioner in public interest. He claimed in the writ petition that he is an agent of the Life Insurance Corporation of India. However, it was pointed out by the learned Counsel for the respondent that the copy of the affidavit served on him shows that the petitioner has claimed to be a Policy holder of Life Insurance Corporation of India.

( 2 ) THE main contention of the writ petitioner is that the Life Insurance Corporation has been established not only to secure the Life Insurance business but to secure it to the best advantage of the community. It is stated that the respondent Corporation is bound to secure for insured persons the rights guaranteed under the Constitution of India and the privileges promised under the Directive Principles. It is further stated that the Corporation is conducting the Life Insurance business with a view to secure maximum benefits for the Corporation and it is blind to the interest of the Policy holders. He submits that, at present if the insured commits default within the first three years in paying the premium the policy is liable to be forfeited and money deposited by way of premium is forfeite