Mr. Justice J.B. Garg, President — Col. Ravee Shahrawat and his wife Mrs. Kiran Ravee Shahrawat had been running a business of readymade garments for ladies and gents in a shop-cum-office in Sector 35C, Chandigarh. Subsequently on account of financial difficulties they shifted it to residential house in Sector 35A, Chandigarh. They availed loan facilities from Punjab National Bank and also possessed an insurance policy dated 7.4.94 to the tune of Rs. 22 lacs against burglary and house breaking. The finished and semi-finished goods which they possessed allegedly valued Rs. 12 lacs whereas furniture and fittings etc. were valued separately. On 7.7.94 at about 8.30 p.m. Mrs. Kiran Shahrawat locked the premises as usual. However, when she came on the following morning i.e. 8.7.94 at about 9.15 a.m. she and R.N. Yadav who was accompanying her noticed that there had been burglary in the premises and the readymade garments were found removed. The goods worth Rs. 3,23,730/- were alleged to have been stolen. An FIR No. 92 was registered at Police Station, Sector 36, Chandigarh on 8.7 94 for offences under Sections 457/380, IPC. However, the occurrence remained untracked. The respondent