Dead Indian in court battle in Dubai over one million dollars

Dubai, Nov 5 (UNI) An Indian, who is no longer alive, is at the centre-stage of a court battle over one million dollars that he obtained as loan from a bank based on an insurance policy that he took despite knowing that he suffered from a terminal cancer.

The man, who was referred to only by his initials BG, availed himself of the loan to ensure a good life for his family, before he died of a lung and brain cancer in August 2001.

BG, who died on January 18, 2005, took out an insurance policy three years later after concealing the deadly disease, the insurance company claimed in the court.

The bank demanded the money from the insurance firm, which denied the claim saying that it was a victim of the deception by the Indian as he concealed his fatal disease.

The appeal court agreed with the lower court ruling that the insurance policy, which would expire on April 8, 2009, should have been verified by the bank before issuing the loan.

The bank should have insured the loan and not leave the choice to the insured, the court said.

UNI XC SY RK1346