ORDER

Deepa Sharma, Presiding Member.—The brief facts of the case as stated in the Complaint are that the Complainant is a partnership firm manufacturing Calcium Sennosides prepared from Senna Leaves mixed with Methanol, ammonia etc. This medicine is used for digestive problem and is prepared with the concentration of 20% or 35% or 45% or 60%. The unit of the Complainant is situated at Plot No. 1-2 & 10, Phase IV, Bakhra Road, Gwalehi, District Bilaspur (Himachal Pradesh). The Complainant had taken from Punjab National Bank on 30.03.2010 a loan of Rs.2.65 crore and also Cash Credit facility worth Rs.1.85 Crore and pledged its stock as a security. The Bank was to mandatorily check the stock on monthly basis.

1. The admitted case of the parties is that on 01.06.2011, the Complainant had obtained an insurance policy from the Opposite Party (hereinafter be referred as “the Insurance Company”) which was valid till 31.05.2012 for an amount of Rs.16,50,00,000/- which includes building plant, machinery. Fittings, fixtures and stocks. During the validity of the insurance policy, on the night of 15/16.04.2021 a fire broke out in the premises of the Complainant. A fire brigade was called. Pol