‘Conduct far from bona fide’: Bombay HC upholds award of Insurance Ombudsman directing Tata AIG to pay insurance claim of Rs. 27 lakh to widow
The Court stated that IIFL and TATA AIG entered into internal business arrangement where IIFL, virtually acted as an insurance agent of TATA AIG while selling the policy to its borrower. The present case does not involve voluntary application by the insured for insurance policy.