ORDER

M/s. Eastman Exports Global Clothing Pvt. Ltd., (hereinafter referred to as the ‘Complainant’), a registered Company under the Companies Act, 1956, is the largest knitwear Manufacturer and Exporter from India. From the year 2008 the Complainant has been taking Insurance Policy, namely, Multi Buyer Exposure Policy (hereinafter referred to as “the Policy”) from the ECGC Ltd., Opposite Parties (hereinafter referred to as “ECGC”).The Policy was issued for the first time in September, 2008, wherein the Maximum Liability was Rs.100.00 Crores and was valid for a period of one year from 01.09.2008 to 31.08.2009.The Policy was renewed every year by ECGC, with the same terms and conditions and with the same Maximum Liability of Rs.100.00 Crores. The Policy covered the risk of non-payment from all Insured Buyers and as per definition of Insured Buyers in the Policy, all the Buyers of the Complainant were Insured Buyers, unless specifically excluded from the purview of the cover under the Policy. Under the Policy, the Complainant was to be indemnified by ECGC to the extent of loss of the Complainant or loss limit provided by ECGC, whichever was lower, on each Insured Buyer in case of non