ORDER

Dr. P.D. Shenoy, Member - The complainant is the proprietor of M/s. Loknath Enterprise, Ram Nagar, Industrial Area Malinibil, District Cachar, Assam, which processes highly inflammable/combustible lubricant oil for manufacturing/processing of wood oil, black putty, gear oil, grease, turpentine oil, etc. The complainant entered into a contract with Oriental Insurance Co. Ltd. for renewal of policy for coverage under Standard Fire and Special Perils in respect of his whole industrial unit through five insurance policies and the period of cover was w.e.f. 31.3.2001 to 30.3.2002 to the extent of Rs. 50,00,000 as sum assured.

2. On the midnight of 27/28.3.2002, at about 2.30 a.m., accidental fire broke out resulting in large scale and complete damage of the main factory building, underground reservoirs, internal electrification and stock, etc. and the lime godown was completely gutted in fire. Fire Brigade was intimated of the mishap and they rushed to the spot, fought for some hours to extinguish the fire and ultimately it was controlled when there were hardly anything left.

3. The news of the said accident was reported in the local daily on the next day and the complainant informed