Once a vehicle is transferred and transfer is reflected in the registration certificate, the owner/transferor will left no insurable interest in the vehicle and in case of any damage to the vehicle insurance company will not be liable.

ORDER

Ajit Bharihoke, Presiding Member—The complainant M/s Orient Ships Agency Pvt. Ltd. is engaged in the business of shipping, transportation and handling mobile cranes. The complainant company owned various mobile cranes/container handler including the P.P.M. Stacker 1995 having registration no. MH-01 R 1652 (herein after referred to as subject vehicle).

2. The subject vehicle was insured with the Oriental Insurance Company Limited on 19.09.1995 for sum assured of Rs.1,56,00,000/- for the period w.e.f. 19.09.1995 to 18.09.1996. Thereafter, the complainant renewed the policy from year to year. The registration of the subject vehicle was transferred in the name of M/s Ornate Multi Modal Carrier Pvt. Ltd in R.T.O. record w.e.f. 21.08.2000. Even after the transfer of registration, the complainant kept on renewing the insurance policy on year to year basis in its own name and the last policy was for Rs.80.00 lakhs for the period w.ef. 19.