In Brief
A Life Insurance Corporation agent was terminated for suppressing previous policy details when issuing new policies to two persons—conduct the Corporation alleged was fraudulent. While the High Court upheld the termination as legally justified, the Supreme Court found that the Corporation's final order proved only an attempt to defraud, not actual fraud. Since renewal commission can be forfeited only for proven fraud, and the Corporation suffered no loss, the Court partly allowed the appeal, setting aside the forfeiture and directing release of the renewal commission to the agent within two months.
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