Ashutush Choudhury Vs the Life Insurance Corporation of India and 6 Ors.

THE LIFE INSURANCE CORPORATION OF INDIA AND 6 ORS. HAVING ITS REGISTERED OFFICE AT DIVISION OFFICE-4, MADHURAM, OPPOSITE TO SATELLITE BR 923, HARISHANKAR ROAD, DAHISAR-EAST, MUMBAI-400068, REP. BY ITS MANAGING DIRECTOR.

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2:THE SENIOR DIVISIONAL MANAGER LIFE INSURANCE CORPORATION OF INDIA SILCHAR BRANCH SILCHAR-4 DIST.-CACHAR ASSAM 3:THE C.R.M. DIVISIONAL OFFICE LIFE INSURANCE CORPORATION OF INDIA JIBAN PRAKASH MEHERPUR SILCHAR-5 DIST.-CACHAR ASSAM 4:THE CHIEF VIGILANCE OFFICER LIFE INSURANCE CORPORATION OF INDIA CENTRAL OFFICE VIGILANCE DEPTT. YOGAKEHEMA MUMBAI-21

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Page No.# 2/6

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5:M/S CANARA BANK REPRESENTED BY ITS MANAGER/SR.MANAGER JOWAI WEST JAINTIA HILLS JOWAI-793150 MEGHALAYA 6:M/S CENTRAL BANK OF INDIA REPRESENTED BY ITS MANAGER CENTRAL ROAD SILCHAR VANIJYA BHAWAN DISTRICT- CACHAR 7:THE STATE OF ASSAM REPRESENTED BY THE COMMISSIONER SECRETARY HOME DISPUR GUWAHATI

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For the Petitioner(s) : Ms. P. Chakraborty, Advocate

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For the Respondent(s) : Mr. A. Kundu, SC, LICI Mr. G. Bokalial, Govt Advocate

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BEFORE

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HON’BLE MR. JUSTICE DEVASHIS BARUAH O R D E R

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11.06.2026

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Heard Ms. P. Chakraborty, the learned counsel appearing on behalf of the Petitioner. Mr. A. Kundu, the learned counsel appears on behalf of the LICI. None appears on behalf of the Respondent Nos.5 & 6 when the matter is called for. Mr. G.

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Bokalial, the learned Counsel appears on behalf of the State Respondent.

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The Petitioner has approached this Court seeking a direction upon the Respondent LICI to release the benefits of the LIC Policy No.493566060 under Jeevan Tarang Scheme and has also sought for setting aside the illegal assignment as well as the letter dated 16.02.2019 issued by the Respondent No.2.

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The affidavits which have been filed by the Respondents, and more particularly the affidavit filed by the Secretary, NE Legal Cell, Guwahati on behalf of the Competent Authority clearly goes to show that the Respondent Nos.1 to 4 are willing to make payment to the Petitioner the dues in terms with the Policy No.493566060. Paragraph No.4 of the said additional affidavit filed on 3rd of June, 2026, being relevant, is reproduced herein under:-

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That the answering deponent begs to say that the plan is a whole of life plan, which provides for annual survival benefit at a rate of 5.5% of the sum assured for life time of life assured after premium paying term or chosen accumulation period is over. On survival to the end of selected accumulation period provided premiums have been paid fully, the vested simple reversionary bonus will be payable in one lump sum. The first survival benefit (SB) will be payable on survival to one year after accumulation period is over and then on survival to the end of each year after that.

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Benefits Payable

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Amount payable Rs. 23,30,000.00 (twenty three lac thirty thousand) being accumulated reversionary bonus was due in 04/2021

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5.5% of the sum assured i.e. Rs. 2,75,000/- (two lac seventy five thousand) will be payable as survival benefit every year till life assured completes 100 years of age i.e. maturity age. However, the 1^st survival benefit will be payable on survival to 1 year after the accumulation period is over and every year thereafter. As on date Survival Benefit for due 04/2022 to 04/2026 amounting Rs.13,75,000/- (thirteen lac seventy five thousand) stand outstanding.

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On survival of the life assured to the policy anniversary coinciding with or immediately following the completion of 100 years of age, sum assured + loyalty addition, if any, will be paid as maturity claim.

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The sum assured + loyalty addition, if any, is payable as death claim to nominee/beneficiary in case of death of the life assured during policy term.

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Policy benefit amount payable to policy holder as on date are tabulated as follows:-

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PolicyNo: 493566060	Plan: 178/44/06/10	Name: Ashutosh Chowdhury
Reversionary
bonus on	Due on 28.04.2021	Rs. 23,30,000/-
accumulation
1^st Survival Benefit @5.5%	Due on 28.04.2022	Rs. 2,75,000/-
2^nd Survival Benefit @5.5%	Due on 28.04.2023	Rs. 2,75,000/-

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3 rd Survival
Due on 28.04.2024 Rs. 2,75,000/-
Benefit @5.5%
4 th Survival
Due on 28.04.2025 Rs. 2,75,000/-
Benefit @5.5%
5 th Survival
Due on 28.04.2026 Rs. 2,75,000/-
Benefit @5.5%
Amount payable to Total
the policy holder Rs.37,05,000/-
as on date

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This Court also duly takes note of the fact that when the writ petition was listed on 09.06.2026, the learned counsel for the Petitioner was directed to obtain appropriate instructions as to whether the Petitioner would be satisfied with the amount mentioned in paragraph No.4 of the additional affidavit filed on behalf of the Respondent Nos.1 to 4.

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Ms. P. Chakraborty, the learned counsel appearing on behalf of the Petitioner submitted that the said amounts mentioned in paragraph No.4 of the additional affidavit are in terms with the benefits of the Policy bearing No.493566060. Accordingly, this Court construes the statements at paragraph No.4 of the additional affidavit to be an undertaking before this Court.

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The writ petition accordingly stands disposed of with the

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following observations and directions:-

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(i) The Respondent Nos.1 to 4 are directed to make payment to the Petitioner in terms with the undertaking given before this Court and recorded in paragraph No.4 of the additional affidavit filed by the Respondent Nos.1 to 4 on 03.06.2026 as quoted hereinabove.

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(ii) The payment of the amount of Rs.37,05,000/- be released to the Petitioner within six weeks from the date of the present order.

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(iii) The Petitioner and in case of his death, his legal representative(s) would be entitled to the other benefits in terms with the policy as mentioned at paragraph No.4 of the additional affidavit dated 03.06.2026.

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Writ petition stands disposed off.

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JUDGE

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Ashutush Choudhury v. the Life Insurance Corporation of India and 6 Ors.

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Ashutush Choudhury v. the Life Insurance Corporation of India and 6 Ors.

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