JUDGMENT :

1. The petitioners have assailed the repudiation of the claim for reimbursement made by the petitioners under an insurance policy.

2. Learned Advocate appearing for the petitioner has submitted that, the first petitioner obtained a Shipment (Comprehensive Risk) Policy from the respondent no. 1. Such policy was valid for the period from November 30, 2008 till November 30, 2009 and covered various shipments made by the first petitioner during such period of time. The first petitioner exported granite slabs, to M/s. New York Stone LLC, New Jersey, comprised in 14 shipments between the period May 17, 2007 and April 3, 2009. 8 Shipments were insured with the respondent no. 1 for commercial risk. Such shipments were made upon obtaining credit limit approval from the respondent no. 1. There was delay in receiving payments from New York Stone LLC, New Jersey. Out of the total invoice value of Rs. 1,32,86,384 a sum of Rs. 4,67,199.27 remained due and payable by New York Stone LLC, New Jersey, to the first petitioner. The first petitioner also obtained order for supply of granite slabs from New York Stone-CT LLC, Connecticut. By a letter dated June 24, 2009, the first petitioner app