SUPREME COURT ADMITS SPECIAL LEAVE PETITION
AGAINST RAJASTHAN HIGH COURT JUDGMENT
THE SUPREME COURT OF INDIA TODAY ADMITTED THE SPECIAL LEAVE PETITION FILED BY LIFE INSURANCE CORPORATION OF INDIA AGAINST THE JAIPUR HIGH COURT DIVISION BENCH JUDGMENT.
AFTER HEARING THE ARGUMENTS FOR BOTH THE SIDES, COURT ASKED LIC TO DEPOSIT THE AMOUNT INVOLVED IN THE COURT WITHIN TWO WEEKS.
LIC INFORMED THE COURT THAT THE AMOUNT INVOLVED WAS RS.51 CRORES BUT WANTED MORE TIME TO DEPOSIT THE AMOUNT. COURT ALLOWED THIS REQUEST AND DIRECTED LIC TO DEPOSIT THE AMOUNT WITHIN A PERIOD OF 3 WEEKS INSTEAD OF 2 WEEKS.
EARLIER LIC'S COUNSEL HAD INFORMED THE COURT THAT THEY WERE PREPARED TO IMPLEMENT THE JUDGMENT BUT APPROVAL OF UNION OF INDIA WAS NEEDED FOR THIS PURPOSE. IT WAS LIC'S PRAYER THAT COURT ISSUE NOTICE TO CENTRAL GOVERNMENT BUT COURT DECLINED THE REQUEST SAYING: "LET THEM COME FIRST".
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