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Report No. 63

7.13. Delay in payment of compensation.-

It has been held1 that in case of delay in payment of compensation to the insurer under section 16 of the Life Insurance Corporation Act, 1956, the insurer is entitled to interest. This situation need not be specifically dealt with, the case being of an isolated nature.

1. National Insurance Co. v. Life Insurance Corporation, AIR 1963 SC 1171.

Interest Act, 1839 Back

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