Back
C.VISWANATH, RAM SURAT RAM MAURYA
Lokesh Machines Ltd. – Appellant
Versus
New India Assurance Co. Ltd. – Respondent
ORDER
Heard Mr. C.N. Moorthy, Advocate, for the complainant and Mr. P.K. Seth, Advocate, for the opposite parties.
2. M/s. Lokesh Machines Limited has filed above complaint for directing the opposite parties to pay (i) Rs.20836791/- along with interest @18% per annum from the date of the claim till the date of actual payment, (ii) Rs.30/- lacs, as compensation for mental agony and harassment, (iii) cost of litigation and (iv) any other relief, which is deemed fit and proper in the circumstances of the case.
3. The facts as stated in the complaint and emerged from the documents attached with it are as follows:—
(a) The complainant was a public limited company, registered under Indian Companies Act, 1956 and engaged in manufacture of machines tools and accessories and serving prestigious customers viz TELCO, Ashok Leyland, L&T Johndeere, Mahindra & Mahindra, Escort, Bajaj Auto and Honda Motors etc. To cater the increasing needs of its customers in the automobile industry and also as a part of expansion, the complainant company intended to import a Portal Machining Center with financial assistance from IDBI under Export Promotion Capital Goods License from Federal Republic of Germany.
(1) Claim of Insured not been repudiated rather it has been accepted, as such various grounds raised in written reply/arguments for repudiation of the claim have to be ignored. (2) It is well settled....
Delivery - The fact that delivery itself was not accomplished, and a claim was raised, the issue of applicability of the clause of ‘or 7 days whichever is earlier’ would not apply.
(1) Surveyor – The conclusions drawn by the surveyor to just cast a doubt as indicted above, in the opinion of the Commission, amounts to an adhoc assessment and rather an arbitrary avoidance of taki....
(1) Liability – The liability of the Insurance Company under the policy is clear as the claim is reimbursable in terms of the risk cover under clause-1 of the schedule pertaining to the sinking of a ....
Insurers are not liable for losses arising from the insured's failure to follow operational guidelines; the burden of proof lies on the complainant to establish policy coverage.
It cannot be assumed that complainant had submitted false and fabricated documents before insurance company while taking insurance policy.
Inundated - The rainfall measured 24 cm on a single day on 24th August, 2000. Many areas of these cities were inundated. As such, it is proved that cause of loss was inundation due continuous rain fa....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
