V.K. Jain, Presiding Member—The complainant obtained two insurance policies form the Oriental Insurance Co. Ltd., in respect of the stock of Cotton Bales. A fire allegedly broke out in the warehouse of the complainant, resulting in substantial loss to the complainant. The incident having been reported to the insurer, a surveyor was appointed by the insurer to assess the loss to the complainant. The surveyor assessed the loss to the complainant at Rs.3,93,92,598/-. The complainant then executed a Discharge Voucher dated 04.9.2015, accepting the aforesaid amount of Rs.3,93,92,598/- in full and final settlement of its claim. The said Discharge Voucher to the extent it is relevant, reads as under:—

“In consideration of approval of my / our claim I / we hereby accept from the Oriental Insurance Company Limited the sum of Rs.3,93,92,598/- subject to deduction of reinstatement premium (Rupees three crores ninety three lacs ninety two thousand five hundred ninety eight only) (approved net claim amount) in full and final settlement of my / our claim towards fire to cotton bales at Pipavav port on 07.11.2010.

I / We hereby voluntarily give discharge receipt to the company in full an