Levy of a service charge or fee – Section 38 of the Insurance Act, which governs assignment or transfer of policies, does not authorize the levy of any such fee – even in the contract of policy, such a provision has not been made – Fees charged unauthorized
SUPREME COURT OF INDIA DIVISION BENCH LIFE INSURANCE CORPORATION OF INDIA — Appellant Vs. DRAVYA FINANCE PVT. LTD. AND OTHERS — Respondent ( Before : Abhay S. Oka and Sanjay…