File photo of Supreme Court
File photo of Supreme Court

SC dismisses plea alleging 'mass cheating' by LIC

ANI | Updated: Jul 15, 2019 15:21 IST

New Delhi [India], July 15 (ANI): The Supreme Court on Monday dismissed a petition filed by a non-profit organisation alleging mass cheating by Life Insurance Corporation of India (LIC) through its Jeevan Saral policy.
A bench headed by Chief Justice Ranjan Gogoi and Justice Deepak Gupta was hearing a plea filed by MoneyLife Foundation alleging that the Jeevan Saral Policy holders have been "misled and cheated" by LIC.
The petition submitted that several persons beyond 50 years, who were induced to take the policy as a good investment, ended up getting less than half the money -- deposited by way of premiums at the time -- when the policy matured. (ANI)