(1) THE main contention raised by learned counsel for the appellant is that the National Commission ought to have allowed the claim on the basis of the report of the Surveyor who had recommended payment of Rs. 41,13,127.87 for the value of the gunny bags destroyed in the fire.

(2) THE National Commission before which this question was raised, considered the evidence on record and ultimately recorded a finding that the appellant itself by its letter dated 19/12/1989 had invited quotation from various insurance companies for a Fire Policy setting out the details as under: "1 .Fire Policy Stock of Sugar 400 Lakhs Stock of gunnies 12 Lakhs Stock of Sulphur & Chemicals 6 Lakhs Stock of stores and spares 35 Lakhs Total value of Fire Policy 453 Lakhs"

(3) THE entire stock lying in the premises of the appellant was destroyed by a major fire accident which took place on 15/11/1990 and although the Policy had not till then been issued by the respondents, the claim raised by the appellant was not repudiated and the Policy was also issued in December, 1990. The appellant and the respondents mutually settled the claim so far as other items were concerned but they did not a