JUDGMENT

Mohan M. Shantanagoudar. J.

The present appeal arises out of the judgment dated 21.07.2015 passed by the National Consumer Disputes Redressal Commission, New Delhi ("National Commission") dismissing the consumer complaint (Original Petition No. 48 of 2004) filed by the Appellant herein.

2. The facts giving rise to this appeal are as follows:

2.1 One M/s Shrirang Agro Chemical Pvt. Ltd., having its factory premises in Tarapur, Thane District, was engaged in the business of manufacturing a chemical called Cyper Methnic Acid Chloride ("CMAC"), an intermediate product used in growing cash crops. The said factory premises had become a sick unit, and was auctioned off by the Maharashtra State Financial Corporation ("MSFC"). The bidding took place on 14.03.2001, and on 15.03.2001, the Appellant was declared the highest bidder, having quoted a price of Rs. 4 crores.

2.2 The Appellant commenced production of CMAC in November 2001. The previous company (Shrirang Agro Chemical Pvt. Ltd.) had taken an insurance coverage from the Respondent, and the Appellant continued this coverage. To