will proceed to consider the question whether circumstances obtained in this case carry clear presumption of the acceptance of the policy by the insurer, as has been obligated under the decision in D. Srinivas’s case (supra). 19. Evidently, it is the case of the appellants that the first premium was accepted and a duly signed receipt therefor, noting policy No.832471906 was issued by the respondent on 09.07.1996. The contents of the same has been reproduced in the synopsis of this case at page ‘E’ as hereunder. 6 2022 SCC OnLine 1720 C.A. No.270 of 2012 Page 18 of 35“Annexure B Dear Sir/Madam Your proposal for Assurance as per particulars noted in the schedule has been accepted by the corporation as proposed at ordinary rates/with E.D.B…………………………………………………… …………………………………………………………… We have also received amount noted in the schedule being the First Premium on the policy of assurance for the plan and amount indicated therein. The acceptance of this payment places the corporation on risk