Mr. Justice D.R. Vithal Rao, President— In this complaint under Section 17 read with Section 12 of the Consumer Protection Act, 1986, the complainant has sought compensation in a sum of Rs. 8,19,245/- from the opposite parties i.e. Oriental Insurance Co. Ltd., National Insurance Co. Ltd. and New India Assurance Co. Ltd.

2. It is the case of the complainant that he had obtained insurance coverage from the opposite parties for the cotton seeds stored and stocked in its godowns. During the currency of the insurance coverage, on 29.4.88 when the buyers inspected the stock in one of the godowns it was found that 2,600 Qtls. of cotton seeds worth Rs. 10,01,000/- was damaged and the buyers refused to purchase the same.

3. The complainant immediately thereafter made claim with the opposite parties; opposite party Nos. 1, 2, and 3 had shouldered and shared the risk at 80%, 10% and 10% respectively. While the opposite parties were enquiring into the matter on the claim of the complainant, the complainant with the permission of the opposite parties sold the said damaged cotton seeds and realised by such a sale a sum of Rs. 3,78,000/-, in consequence of which the complainant suffered a loss