JUDGMENT - PATANKAR P.S., J.:---The only point involved in this appeal is whether there was a concluded contract of insurance between the parties on 24th December, 1973 so as to foist liability upon the insurance company, the appellant herein.

2. A few facts are as follows :-

The respondent has constructed 28 sheds at Panvel in 1973. Out of those 28 sheds, shed standing on plot No. 54 was allotted to one Mr. Jani who was having partnership business in the name of Synthetic Esters and Chemicals. One Mr. V.B. Shaha was working as an agent of the appellant insurance company. On 24th December, 1973, he approached the respondent's Manager for the purpose of insuring those 28 sheds with the appellant. Mr. Shaha ascertained the premium and a cheque of Rs. 3,800/- was paid by the Manager of the respondent. In token thereof, Mr. Shaha also signed on counterfoil. On the next day in the morning, the shed which was standing on plot No. 54 caught fire and was damaged extensively. The Manager of the respondent informed this to Mr. Shaha immediately and in turn, this was informed to the appellant insurance company. On 29th January, 1974, the Manager of the respondent or the first time, wrote a let

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