C. HARI SHANKAR, J.

1. Consequent to hearing arguments, we had, on 31st May, 2018, dismissed this appeal, for reasons to follow thereafter. This judgment records the reasons for our decision.

2. Though there is no real dispute on facts in the present case, a bare glance, thereat, is necessary.

3. The appellant was engaged in the manufacture of footwear, and had two manufacturing units, located at A-9, Mayapuri, Industrial Area, Phase-II, New Delhi and Himachal Pradesh. In respect of the premises at Kala-Amb, the appellant purchased a Standard Fire & Special Perils Policy, from the respondent, for the period 20th March, 2008 to 19th March, 2009. The policy covered loss or damages to various items, the details of which may be tabulated as under:-

Property Covered	Sum Insured
Raw Material, Semi-Finished & Finished stock	Rs. 6,00,00,000
Furniture, Fixtures & Fittings, ACs and Computers etc.	Rs. 25,00,000
Buildings	Rs. 11,00,00,000
Plant & Machinery	Rs. 10,00,00,000
Total	Rs. 27,