Usha S. Thakare, Presiding Judicial Member—Complainant-Facets Polishing Works, a private limited company has filed present complaint by alleging deficiency in service on the part of the opponent/United India Insurance Company Ltd. Complainant-Facets Polishing Works Private Limited Company is incorporated under the Companies Act, 1956. It carries on business of polishing, processing, manufacturing and export of diamonds. Opponent is a limited company incorporated under the Companies Act, 1956 and carries on business as Insurer throughout India.

2. Present complaint arises out of non-settlement of claim of the complainant for sum of Rs. 46,76,230/- under Specific Voyage Policy issued by the opponent. For processing of diamonds, the complainant-Company has purchased from a US based Company-Trane India Ltd., a Trane Water Cooled Centrifugal Chiller along with five drums of refrigerant in all weighing 24590 lbs for the price of US $ 1,00,000/-. The suppliers-Trane India Ltd. had entrusted said consignment to the sea carriers in a sound condition at Seattle, WA for carriage to Mumbai Port. On or about 05/11/2003 said consignment landed in Mumbai Port in sound condition. After landi