ORDER

Anup K. Thakur, Presiding Member.—The complainant, M/s. P.P. Agro Industries, is a proprietorship firm registered as a small scale industry in Maharashtra engaged in the manufacture and sale of pulses. It began production in 1999. The nature of its business is to purchase raw material, “Toor”, from various markets in Maharashtra and Gujarat etc. and sell the finished product, “Toor Dal”, in the local market and nearby states. It has a factory located in its own building at C-19, MIDC, Latur, Maharashtra.

2. The complainant had taken an insurance policy for the period, 8.7.2009 to 7.7.2010, for a sum insured of Rs. 2.57 crore; this was renewed with effect from 8.7.2010 to midnight of 7.7.2011 for an enhanced sum insured of Rs. 5 crore (policy no. 271401/11/10/3100000951 dated 8.7.2010 at Annexure C-3). The breakup of the sum insured was as follows: Building - Rs.37,00,000/-, plant/machinery and accessories - Rs.40,00,000/-, stock and stock in process- Rs.4,23,00,000/-.

3. A fire broke out around 2.30 a.m. on 18.4.2011 in the factory premises. Police Station, Tehsil office, Food Inspector, Electrical Inspector and the Financial Authority i.e. Janata Sahakari Bank, Pune, Latur w