JUDGMENT

A.S. Bopanna,J.

1. The appellant insurance company had issued fire insurance policy in respect of the plant and machinery of the respondent company. The sum for which it was insured was a sum of Rs.70,00,000/­ (Rupees Seventy Lakhs only). In respect of the policy issued on 01.12.1999, the claim arose on 23.04.2000 when fire accident took place in the premises of the respondent. In respect of the claim, the appellant insurance company offered a sum of Rs.7,98,019/­ (Rupees Seven Lakhs Ninety­Eight Thousand Nineteen only) to the respondent on 06.12.2000. The respondent having refused to accept the same, a meeting was thereafter convened on 20.09.2001 wherein Vijaya Bank at whose instance the policy was issued was also present. In the said meeting, the appellant insurance company revised the offer to pay the respondent a sum of Rs.33,80,925/­ (Rupees Thirty­Three Lakhs Eighty Thousand Nine Hundred Twenty­Five only). The said sum was also not acceptable to the respondent but a sum of Rs.25,00,000/­ (Rupees Twenty­Five Lakhs only) was paid to the respondent through Vijaya Bank. The respondent therefore being aggrieved that the claim for insurance reimbursement was not satisfied,