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IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI
Dhiraj Singh Thakur, Ravi Cheemalapati
Karanam Raghava Rao – Appellant
Versus
Karanam Sirisha – Respondent
JUDGMENT :
The present set of Writ Appeals, under Clause 15 of the LETTERS PATENT , have been preferred against the judgment and order, dated 22.11.2022, passed by the learned single Judge in W.P.No.26730 of 2021.
2. However, for purposes of convenience, facts mentioned in W.A.No.1072 of 2022 are being referred to.
3. The Petitioner - Karanam Sirisha, respondent no.1 in the present writ appeal, is the wife of late Karanam Rahul, who had insured himself heavily and obtained as many as six insurance policies from the Life Insurance Corporation of India, HDFC Life Insurance Company Limited and Max Life Insurance Axis Bank Limited.
4. The husband of the petitioner/respondent No.1 herein, however, in tragic circumstances, was murdered, and therefore, the issue which arose was with regard to the receipt of the insurance amount. In some of the policies obtained by the deceased, the mother of the deceased was nominated as a beneficial nominee, whereas in some, it was his father. Amounts covered under as many as four policies have since been encashed, leaving behind two major policies, both of which cumulatively amount to approximately Rs.11.50 Crores, which are still unpaid.
5. It is in that c
Amended provisions of Section 39 of the Insurance Act establish that nominees have independent rights over insurance proceeds, necessitating adjudication of any will claims in proper legal proceeding....
The main legal point established in the judgment is the entitlement of a nominee, particularly if a spouse, to the entire amount payable by the insurer under Section 39(7) of the Insurance Act, 1938,....
Nomination in insurance does not confer absolute rights; benefits are subject to distribution laws among legal heirs.
Nomination in insurance does not confer absolute rights over terminal benefits, which pertain to legal heirs under succession laws.
Rights of the parties to a lis have to be decided in accordance with the statutory provisions and law that prevails on the day the cause of action arises.
Nominees of life insurance policies function as trustees, not automatic beneficiaries; the 2015 amendment to the Insurance Act does not retroactively alter rights for policies where the policyholder ....
Nominees under Section 39(7) of the Insurance Act have a beneficial interest in insurance proceeds, but this does not override the applicable succession laws if inconsistent. Decisions on such matter....
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