R.N.SINHA, D.K.SETH
ORIENTAL INSURANCE CO. LTD. – Appellant
Versus
PEACOCK PLYWOOD (P) LTD. – Respondent
( 1 ) THE question to be answered in the case is as to the invocability of the risk/peril clause of the Insurance Policy covering the goods in transition. In order to answer the question, it is necessary to refer to the facts-in-brief,
1]. Plaintiff/respondent sought to recover a sum of Rs. 49,48,407/- on the strength of a policy of insurance issued by the defendant containing institute Cargo Clause (C ). The plaintiff claimed that the goods were insured for safe arrival at Calcutta. But the goods did never arrive at Calcutta. The goods were lost by non-delivery and the peril insured against. Alternatively, it was contended that the goods were reasonably abandoned since unavoidable, inasmuch as it could not be retrieved without incurring excessive and unreasonable expenditure exceeding the value of the goods. This resulted in Constructive total loss due to peril/risk insured. The notice of abandonment was given to the defendant through a letter dated 11th august, 1988. Subsequent, thereto, the plaintiff instituted a suit in Singapore. The suit ultimately resulted in sale of the goods and payment into Court. After taking into account of the monies received, a sum of
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