JUDGMENT

B. Sudershan Reddy, J.

1. This appeal under Section 23 of the Consumer Protection Act, 1986 is directed against the final judgment and order of the National Consumer Disputes Redressal Commission. The National Commission by the impugned judgment allowed the complaint preferred by the Respondent complainant and accordingly directed the Appellant Company to pay a sum of Rs. 13.69 crores with interest at 9% per annum from 9th June, 1997 till its realization.

2. In order to consider as to whether the impugned judgment of the National Commission (for short `the Commission') suffers from any infirmity requiring our interference, it may be just and necessary to notice relevant facts.

3. The Respondent-complainant at the relevant time was carrying on ship breaking and scrap dealing business. It had under a Memorandum of Agreement dated 2.6.1997 purchased and imported to Alang, a very large bulk ore and oil carrier by the name of "Vloo Arun" for the purpose of scrapping (ship breaking/demolition) from one M/s. Ruby Enterprises Inc. Belgium. There is no controversy that the Respondent has taken a marine insurance policy for hull and machinery on 4.6.1997 for the said vessel. The policy