Shree Ganesh Natural Fibres VS New India Assurance Co. Ltd.

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION, NEW DELHI
Ram Surat Ram Maurya, Presiding Member and Dr. Inder Jit Singh, Member
M/s. Shree Ganesh Natural Fibres – Complainant
versus
New India Assurance Co. Ltd.
and Anr. – Opp. Parties
Consumer Case No.624 of 2018
Decided on 14.9.2022

Counsel for the Parties:
For the Complainant:Mr. Suresh Tripathy and Ms. Shailja Kulshreshtha, Advocates
For the Opp. Parties: Nemo

Headnote:
Consumer Protection Act, 1986–S.12(1)(a)[Consumer Protection Act, 2019 –S.35(1)(a)] – Services – Insurance – Fire Accident - Repudiation of Claim – Amount not disputed by Complainant - Reduction of computation of loss – Complaint has been filed for directing the New India Assurance Company (opposite party) to pay Rs.47669567/- as insurance claim - The opposite party took plea that the complainant was a commercial unit as such the complaint is not maintainable. The complainant filed Rejoinder Reply on 28.11.2018, in which the facts stated in the complaint were re-iterated. It has been stated that the contract of insurance is a contract of indemnity and not for any profit - On the basis of report dated 12.07.2017, the opposite party released Rs.15000000/-. Although the second surveyor has reduced quantum of loss without any basis. But at this stage, the complainant has no objection in accepting that amount - Under Regulation 9 of Insurance Regulatory and Development Authority (Protection of Policyholder’s Interest) Regulations, 2002, six months maximum time from the date of loss has been provided to the Insurer to settle the claim. If it is not settled within that period, then the Insured is entitled to interest, 2% above the market rate of the interest. Loss has occurred on 15.03.2017. Six months expired on 15.9.2017. There is no allegation that the Insured caused delay in supply of evidence – Therefore, the complaint is allowed with cost of Rs.50000/-. [Paras 6 to 8].
Result: Compliant allowed with cost.

ORDER

Heard Mr. Suresh Tripathy, counsel for the complainant. Nobody appeared for the opposite parties.

2. This complaint has been filed for directing the New India Assurance Company (opposite party) to pay Rs.47669567/- as insurance claim.

3. The complainant stated that it was a registered partnership firm and engaged in the business of ginning cottons and manufacturing cotton bales from raw cotton. The complainant had 24 ginning machines and one cotton baling press at its factory premises situated at Pulgaon Road, Arvi, district Wardha, Maharashtra. Raw cotton and finished goods are stored in factory compound, in the sheds and open places both. The complainant obtained Standard Fire and Special Perils Policies mentioned below for total sum of Rs.95000000/-:-

Policy No. and Validity	Interest	Sum Insured
16060011160100000923 (Validity:28.10.16 to 27.10.17)	On the Stock of Kappas &/or Loose Cotton &/or F.P.Cotton Bales &/or Cotton Seed &/or etc property assured whilst stored &/or lying in anywhere in the compound &/or in Pala House &/or godown of insured factory situated at Pulgaon Road, Arv.	Rs.5000000/-
16060011160100001014 (Validity:22.11.16 to 20.06.17)	On the Stock of Kappas &/or Loose Cotton &/or F.P.Cotton Bales &/or Cotton Seed &/or etc property assured whilst stored &/or lying in anywhere in the compound &/or in Pala House &/or godown of insured factory situated at Pulgaon Road, Arv.	Rs.10000000/-
16060011160100001101 (Validity:05.12.16 to 30.06.17)	On the Stock of Kappas &/or Loose Cotton &/or F.P.Cotton Bales &/or Cotton Seed &/or etc property assured whilst stored &/or lying in anywhere in the compound &/or in Pala House &/or godown of insured factory situated at Pulgaon Road, Arv.	Rs.10000000/-
16060011160100001117 (Validity:09.12.16 to 30.06.10.17)	On the Stock of Kappas &/or Loose Cotton &/or F.P.Cotton Bales &/or Cotton Seed &/or etc property assured whilst stored &/or lying in anywhere in the compound &/or in Pala House &/or godown of insured factory situated at Pulgaon Road, Arv.	Rs.10000000/-
16060011160100001247 (Validity:12.01.17 to 30.05.17)	On the Stock of Kappas &/or Loose Cotton &/or F.P.Cotton Bales &/or Cotton Seed &/or etc property assured whilst stored &/or lying in anywhere in the compound &/or in Pala House &/or godown of insured factory situated at Pulgaon Road, Arv.	Rs.10000000/-
16060011160100001304 (Validity:20.01.17 to 30.06.17)	On the Stock of Kappas &/or Loose Cotton &/or F.P.Cotton Bales &/or Cotton Seed &/or etc property assured whilst stored &/or lying in anywhere in the compound &/or in Pala House &/or godown of insured factory situated at Pulgaon Road, Arv.	Rs.10000000/-
16060011160100001316 (Validity:24.01.17 to 01.06.17)	On the Stock of Kappas &/or Loose Cotton &/or F.P.Cotton Bales &/or Cotton Seed &/or etc property assured whilst stored &/or lying in anywhere in the compound &/or in Pala House &/or godown of insured factory situated at Pulgaon Road, Arv.	Rs.10000000/-
16060011160100001329 (Validity:27.01.17 to 30.04.17)	On the Stock of Kappas &/or Loose Cotton &/or F.P.Cotton Bales &/or Cotton Seed &/or etc property assured whilst stored &/or lying in anywhere in the compound &/or in Pala House &/or godown of insured factory situated at Pulgaon Road, Arv.	Rs.10000000/-
16060011160100001408 (Validity:13.02.17 to 31.03.17)	On the Stock of Kappas &/or Loose Cotton &/or F.P.Cotton Bales &/or Cotton Seed &/or etc property assured whilst stored &/or lying in anywhere in the compound &/or in Pala House &/or godown of insured factory situated at Pulgaon Road, Arv.	Rs.10000000/-
16060011160100001481 (Validity:22.02.17 to 31.03.17)	On the Stock of Kap

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NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION, NEW DELHI Ram Surat Ram Maurya, Presiding Member and Dr. Inder Jit Singh, Member M/s. Shree Ganesh Natural Fibres – Complainant versus New India Assurance Co. Ltd. and Anr. – Opp. Parties Consumer Case No.624 of 2018 Decided on 14.9.2022

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