S.K. Naik, Member—M/s Goel Jewellers have filed this original petition/complaint alleging deficiency in service on part of National Insurance Co. Ltd. seeking a compensation of Rs.46,64,957/-. This claim was subsequently reduced to Rs.36,05,200, as per the details given in the amended complaint as under :-

“S.No. Particulars Amounts

1. Value of Goods i.e. 4210.20 grms of (22 ct.)

Gold ornaments valued at Rs.16,92,500/- at the

rate of Rs.402/- per grams (including Rs.395/- per

grams being rate of 22 Ct. Gold in ornaments and

Rs.7/- per gram making charges as detailed in

annexure C, U and V. 16,92,500.00

2. Interest from date of filing of claim with Insurance Co.

i.e. 28.10.97 till the date of filing the complaint

(i) Interest at 18 per annum from 28.10.97 to 31.3.2000 on

Rs.16,92,500/- (Interest was paid @ 18% during this period) 7,36,240.00

(ii) Interest at 12% per annum from 1.4.2000 to 17.8.2001 on

Rs.16,92,500/- (Interest was paid @ 12% during this

period) 2,79,260.00 10,15,500.00

3. Damages for Loss of Business. The Business opportunities in

45.5 months during 28.10.97 to 17.8.01 were lost because of

non-availability of finance. There is a rise of about 10% every year.