JUDGMENT :

A.S. BOPANNA, J.

1. The appellant (insurer) who was arrayed as respondent No. 1 in the complaint filed before the National Consumer Disputes Redressal Commission, New Delhi (“NCDRC” for short) in O.P. No. 102/2003 is before this Court in this appeal being aggrieved by the order dated 27.03.2009. The respondent No. 1 (insured) was the claimant before NCDRC. The plant and machinery in the factory owned by respondent No. 1 was charged in favour of respondent No. 2 as security, while the stock in trade was hypothecated in favour of respondent No. 3 (Thane Jan Sahakari Bank) for discharge of loan obtained from them. Since the respondent No. 2 and 3 are entitled to adjust the claim towards their outstanding dues, they are arrayed as parties to the proceedings.

2. Through the order dated 27.03.2009 impugned herein, the NCDRC has allowed the complaint in part and directed the insurer to pay the sum of Rs. 79,34,703/- with interest at 12 % per annum. Out of the said amount, a sum of Rs. 49,56,897/- is ordered to be apportioned in favour of respondent No. 2 (Maharashtra State Fin