S.C.Jain, Member—This complaint has been filed by Sh. Sachin Vijay Gupta on behalf of the complainant company which is a private limited company registered under the company’s act 1956 and Sh. Sachin Vijay Gupta is one of the Directors of the company. The complainant company engaged in the business of selling gold and diamond jewelry. The complainant company obtained one jewelers block insurance policy from the OP Company and the OP company issued policy No. 231/2005 for the period 29.09.2004 to 23.09.2005 on receipt of insurance premium amount of Rs. 31,906/-. The insurance company contracted to indemnify for loss or damage to any property or part thereof relating stock and stock in trade, consisting of jewelry of gold, diamond and silver ornaments, articles, piece and precious stones of any short of kind whatsoever as well as cash and currency notes and/or other mercantile and material usual to conduct of the insured’s business belonging to and/or held in trust or on commission for which the insured is only responsible. As per the policy, the following indemnity was contracted by the insurance company.

a. Custody of insured Rs. 20.00 Lac.

b. Custody of broker Rs. 15.