A. Venkatarami Reddy, President - There are two complainants in this complaint. The first complainant is the District Consumer Council and the second complainant is the person who insured his goods with the opposite party No.1. The second opposite party is the Andhra Bank i.e. banker of the second complainant.

The case of the 2nd complainant is that he started dealing in Palmyra fibre in 1987 and was financed by Andhra Bank i.e. opposite party No.2 in the complaint and has been insuring the stock with the New India Insurance Co. Ltd., i.e. opposite party No.1. The Andhra Bank 2nd opposite party has been periodically renewing the Insurance policy with the opposite party No.1. On 25-11-1989 the bank insured with the first opposite party raw, processed and compressed Palmyra fibre for an amount of Rs. 1 lakh and a cover note was issued covering the risk of fire, flood and cyclone for a period of one year from 25-11-1989 to 24-11-1990. On 9-5-1990 due to floods, the water entered into the godown and the Palmyra fibre stock worth Rs. 1 lakh was completely drenched and damaged. The father of the 2nd complainant intimated the Insurance Company 14-5-1990 as there was no conveyance avai