In Brief
P.G. Natarajan, a Career Agent of the Life Insurance Corporation (LIC), was terminated for suppressing previous policy details when issuing two new policies, allegedly to defraud the Corporation. While the Court upheld termination of his agency as justified (since his acts were prejudicial to the Corporation's interests), it allowed his appeal partly by striking down the forfeiture of renewal commission. The Court held that renewal commission can be withheld only for proven fraud; here, the final order established only attempted fraud with no actual loss to the Corporation, so the commission must be paid.
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