Mr. Justice M.B. Shah, President—It is the say of the complainant that the company is engaged in the business of drilling oil in Bombay High area under the supervision of Oil and Natural Gas Commission. For this purpose, the complainant owns a RIG. The complainant took an insurance policy called Combined Hull Policy/Package Policy for an amount of Rs. 42,50,00,000/- by paying premium of Rs. 19,16,750/- for a period effective from 23.12.1998 to 22.12.1999; on 29th June, 1999, an accident took place and the crane boom got twisted and the bridle line broken and boom fell on the top of the schlumberger unit. On the same date, complainant addressed a letter to the Insurance Company giving details of the accident of Deep Sea Matdrill Jack Up Rig which was insured. On 30.6.1999, the complainant estimated the cost of repairs/replacements which was expected to exceed 15 million rupees.

2. Thereafter, the Insurance Company appointed M/s. J.B. Boda Offshore Surveyors and Adjusters Pvt. Ltd. to assess the damage. As per the Surveyor’s report circumstances leading to incident are as under:

“On June 29, 1999 the rig was in the process of exploratory drilling at location C-37/B at Tapti Field.