S.K.M. Lodha, President. Toshniwal Sensors Pvt. Ltd.(insured) have filed this complaint under section 12 read with section 17(a)(i) of the Consumer Protection Act, 1986(“the Act” herein) against M/s. Oriental Insurance Company Ltd., Branch Office, Ajmer(Opposite Party)(insurer) on 17.4.1990 praying that a sum of Rs. 1,45,7401- may be ordered to be paid to the insured by the insurer which is the value of the risk covered by the Marine Insurance cover note No. 2/10093 dated 31.10.1988, reasonable interest and fair compensation in view of financial losses/hardships, harassment and mental agony suffered by the insured directly due to unavoidable delay, poor service and negligence on the part bf the opposite party-insurer. The complainant obtained an insurance cover from the insurer, Branch Office No. -1 L.I.C. Building, M.G. Road, Ajmer to cover transit risks of an overseas consignment(1 carton) of 3750 pieces of assorted ICs worth US $ 10,092.50 vide invoice No. WI-212 A dated 6.1 0.1988 against cover Note No.' 2/10093 dated31.10.1988 for Rs. 1,45,740/- The consignment left Taiwan no later than the date shown on the invoice. It is mentioned in the cover note in front of the colum