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A. P. SAHI
Patanjali Foods Ltd. – Appellant
Versus
Oriental Insurance Co. Ltd. – Respondent
ORDER
These two original petitions have been instituted alleging deficiency on the part of the Oriental Insurance Co. Ld., in not having satisfied the entire claim of the complainant regarding losses suffered in a fire that occurred in the night of 24/25.12.2000. It is the contention of the claimants that the Insurance Company proceeded to get the incident surveyed and then obtained assessments luxuriously thereby delaying the process of indemnifying the loss. The ad-hoc method and the delay resulted in prolonged harassment by the Insurance Company as a consequence whereof the present complaints have been filed.
2. The complaints were instituted originally by M/s Ruchi Soya Industries Ltd., which company underwent insolvency proceedings before the National Company Law Tribunal, Mumbai. A resolution plan was drawn up and the company was taken over by M/s Patanjali Foods Limited who were, under the orders of this Commission, substituted in place of the original complainants. When the matter previously commenced for consideration an Order was passed on 14.08.2023 to the following effect:—
We have heard learned counsel for the parties. We find from the pleadings that prima facie the cla
Discharge vouchers Discharge vouchers were signed and tendered on 22.01.2004 and 04.02.2004. This subsequent act of discharge, therefore, disentitles the claimants for any interest as claimed.
(1) The Surveyor’s Report Threshold: Once a surveyor submits a final report and the insurer accepts it, any further delay in disbursing the funds constitutes a deficiency. The insurer cannot hold ont....
Insured is entitled to interest at 9% for delays beyond stipulated time frames following an accepted insurance claim settlement.
(1) Survey Report - The Survey Report is an important document and cannot be ignored while settling claims.(2) Coercive practice - Complainant has not issued the Discharge Voucher of his own free wil....
Amount received under protest - After signing the discharge voucher and accepting the amount in full and final settlement, the Complainant is not permitted to raise the plea that the amount was accep....
The judgment clarified compensation assessment principles in insurance claims, including salvage deductions and interest for delays.
The acceptance of an insurance settlement under protest does not forfeit the right to pursue further claims, affirming the consumer's right amid shortcomings in service.
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