ORDER

S.K. Naik, Member - Shri Gajanand Elastic Industries, a partnership firm, is in the business of manufacturing mainly Woven Narrow Fabrics and for that purpose it has a factory at Plot No. 459, GIDC-II, Dediyasan, Mehsana (North Gujarat). In order to safeguard its plant, machinery, equipment and stocks, it has obtained two insurance policies, one Fire Policy C for a sum of Rs. 41,00,000 for Building, Plant and Machinery, Accessories and Furniture through the Gujarat State Financial Corporation and the other Fire Policy C for a sum of Rs. 10,00,000 for Stocks and Stock-in-Process through the Dena Bank, Mehsana Branch. During the validity of the policies, there was an accidental fire in the factory premises on the 7th of November, 1999 destroying the entire equipment, accessories, stock and furniture. Shri Gajanand Elastic Industries had filed their claim amounting to Rs. 51,00,000 before the New India Assurance Co. Ltd., opposite party No. l, who vide their letter dated 7th of August, 2000 have repudiated the same.

2. Aggrieved thereupon and alleging deficiency on part of the opposite party No. 1-Insurance Company that this complaint has been filed seeking for a direction to the