JUDGMENT

S.H. Kapadia, J. —

Leave granted.

2. This civil appeal by grant of special leave petition is filed against judgment and order dated 17.8.07 passed by the Division Bench of the Calcutta High Court in APD No.302/2003 in Suit No.340 of 1992 whereby the Division Bench allowed the appeal preferred by respondent no.1 Corporation (insurer) and set aside the judgment and decree dated 4.4.03 passed by the learned Single judge of the High Court in Suit No.340 of 1992.

3. The short question which arises for determination in this civil appeal and which revolves around interpretation of clause 16 of the Specific Shipments (Political Risks) Policy dated 27.1.87 is: where the loss, for which the Exporter (insured) has been indemnified by the insurer, is quantified and a fixed sum is set out in the insurer’s policy, being the total liability of the insurance company to the insured, would the insurer be entitled to receive anything more than what has been paid by it to the insured or would it (insurer) be also entitled to share the increased recovery that the insured may, at the future date, make from the original contract, to which the insurer is not a party?

FACTS

4. On 8.10.85 M/s. Ramch