Case Law Analysis
|Bombay High Court
CPC Section 60(1)(kb) | Insurance Maturity Proceeds Lose Exemption Upon Payout to Judgment Debtor: Bombay HC
The Bombay High Court has ruled that once insurance maturity proceeds are paid out to the policyholder, they cease to be protected under CPC Section 60(1)(kb), making them attachable by decree holders. This clarifies a critical boundary in asset protection, affecting insurers, policyholders, and creditors alike by ending ambiguity around when exempt funds become recoverable assets.