( 1 ) THE plaintiff, whose suit has been dismissed by both the Courts below, appeals from the judgment of the subordinate Judge, Elura given on 17-1-1962. The necessary facts are that the plaintiff was a chief agent of a private limited company called "the National Star Assurance Company Limited". One of the duties of the Chief agent was to secure life insurance business through special agents and under the terms of the appointment letter dated 20-4-1953, the plaintiff was entitled to overriding commission at varying rates specified in clause 6 (a) of the said appointment letter on the premia received for the first year on the policies secured by the plaintiff. Under the Life Insurance Corporation Act, 1956 (hereinafter referred to as the Act), all the assets and liabilities of the National Star Insurance Company Ltd. , stood transferred to and vested in the Life Insurance Corporation of India on 1/09/1956.

( 2 ) IT was contended by the plaintiff that, prior to the said appointed day he submitted proposals for life insurance in respect of seven policies, the numbers of which are mentioned in the plaint. It was alleged that, in respect of these policies, the plaintif