Oriental Insurance Co. Ltd vs Dharam Chand And Ors

The Supreme Court held that the insurance coverage commenced upon receipt of the premium cheque at 4:00 pm on May 7, 1998, despite the cover note stating a later start date. The Court emphasized that the timing of the premium payment is critical in determining the validity of the insurance policy. Consequently, since the accident occurred at 8:30 pm on the same day, the insurance company was held liable for the claim, and the appeal was dismissed without costs.