ORIENTAL INSURANCE CO. LTD vs INDERJIT KAUR .

The Supreme Court addressed the interpretation of Section 64-VB of the Insurance Act, 1938, which mandates that no insurer can assume risk unless the premium is received in advance. The Court held that the dishonor of the premium cheque prior to the accident meant that the insurer was not liable for the claim. The Motor Accident Claims Tribunal's decision to award compensation was overturned, affirming that the insurer had no risk coverage at the time of the accident due to non-payment of the premium.