car insurance transfer-- and my situation.. plz advise

I purchased a hyundai Santro from one of my known person and I transfered the car registration in my name in the District transport office but I didnt transfer the insurance policy in my name from the previous owner. Unfortunately my car commited an accident with damage to my own car and one third party motorcycle has been damaged.Now what is the status of my insurance policy... because the car is in my name and the insurance owner is some different person, although the insurance is still for my santro car only. So will I get the claimed money from the insurance company Is the insurance company legally bound to settle the third party damage claim, since the insurance is still not expired?

what will happen if I dont transfer the car insurance to my name after buying a secondhand vehicle from previous owner within 14 days of registration transfer?

Legally you have to transfer the car insurance within 15 days. As per act insurer say no to damage to your vehicle loss. But they have to pay to third party.