IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.4367 of 2008 RANG BAHADUR SINGH /SO LATE JOKHU SINGH R/O 60 L.I.G.H. KANKARBAGH COLONY, PS-KANKARBAGH DISTT- PATNA-----------------PETITIONER Versus 1. L.I.C.OF INDIA DIVISIONAL OFFICE, PATNA THROUGH SR. MANAGER, L.I.C. OF INDIA,PANTA BRANCH-1 2. SR. MANAGER, L.I.C. OF INDIA, PATNA BRANCH-1 JEEVANDEEP 1ST FLOOR BRAJ KISHROE PATH,PATNA --------- --------------------------RESPONDENTS. ----------- 2 1.4.2010 Heard learned counsel for the parties. Policy No. 512333838 was taken by the son of the present petitioner. While taking the said policy the present petitioner was shown to be nominee. When the son died a claim was made by the petitioner to honour the said policy. But it was not done by the respondent LIC when the present writ application has been file seeking a direction accordingly. The stand of the respondents in the counter affidavit is that the policy in question was assigned by the policy holder in favour of Punjab National Bank, Waini Pusa Road, Samastipur on 2.6.2003 for taking educational loan. The said loan was repaid in full during the life time of the assured. In view of the said repayment the Bank had no claim or pecuniary interest over the said policy. It is stated that as per the rule when the policy is assigned the existing nomination stand automatically cancelled. Either re-assignment is to be made by the policy holder with fresh nomination or a succession certificate has to be obtained. The Court is not willing to go into the validity of the said rule in the given facts and situation because of the accepted position that the pledging of the policy with the Bank has - 2 - lost its meaning after repayment to the Bank. If the dues of the Bank would not have been paid the Bank surely have first authority over the said policy but once repayment has been made the policy was free as before the pledgement. The respondents are taking hyper technical view in the matter in absence of any dispute or in absence of denial of the fact that the present petitioner is the nominee who has right to claim for the sum assured in the policy in question. In view of above, this writ application is disposed of with a direction upon the Life Insurance Corporation of India to settle the claim of the petitioner within a period of three months from the date of communication or production of a copy of this order. If the petitioner would be entitled for any statutory interest or in terms of the policy for delayed payment it shall accrue in his favour. This writ application is disposed of with the above direction. RPS (Ajay Kumar Tripathi,J.)