ORDER : – This revision has been preferred by petitioner/respondent No. 8 against the order dated 2-12-2020 passed by 3rd ADJ, Bhopal in M.C.A. No. 48/2019 whereby order passed by 5th Civil Judge Class-I, Bhopal in M.J.C. Succession Case No. 74/17 on 27-4-2019 was affirmed.

2. Facts of the case are that the petitioner is the father of late Shri Chetan Singh Chouhan who died on 17-5-2017. He was employed on the post of Manager in Kotak Mahendra Old Mutual Life Insurance Ltd., Bhopal. He had purchased life insurance policy and nominated his father’s name. As per the amended provisions of year 2015 in Insurance (Amended) Act, 2015, the concept of Beneficial Nominee was introduced under section 39(7). It was alleged that as per the amendment, the parents, spouse and children have been put under the heading of “Beneficial Nominee”. The policy taken by deceased son of petitioner is governed by the aforesaid provisions.

3. It is further alleged by the petitioner that along with his deceased son, he had jointly applied for house loan valued about Rs. 9,50,000/-. The bank passed it in their favour for Rs. 8,50,000/-. The petitioner continued to repay all the installments. Deceased did not p