AMAR KRISHNA GHOSE vs LIFE INSURANCE CORPORATION OF INDIA & ANR.

The Supreme Court held that the expression 'controlled business of the insurer' in Rule 12-A of the Life Insurance Corporation Rules, 1956, encompasses the life insurance business conducted prior to the management's vesting under the Life Insurance (Emergency Provisions) Ordinance, 1956, specifically Section 3(2). The Court affirmed the Calcutta High Court's decision that the Life Insurance Tribunal has exclusive jurisdiction to determine issues related to the appellant's termination of service and claims for arrears of pay, as these matters pertain to the liabilities of the controlled business. The appeal was dismissed, upholding the High Court's bifurcation of claims between the Tribunal and the court.