ORDER

Heard learned counsel for the complainant and the learned counsel for the Insurance Company.

2. The complainant is a jeweller running his business in the name of Chetamani Ornaments Pvt. Ltd. at Varanasi. To secure his business the complainant in so far as the present matter is concerned undertook three policies on 01.04.2011. One of the policies is for traditional business - Jewellers Block policy, where the property insured is cash and currency notes and /or other merchandise and materials usual to conduct of the insured’s business belonging to and/ or held in trust or on commission for which the insured is responsible. The Jewellers Block policy contains three sections, the first section is with regard to securing of the property and the premises, the second section is with regard to securing of the property insured whilst in the custody of the category of persons stated therein which includes employees and the third section is with regard to the insurance of the property whilst in transit within India.

3. The second policy is captioned as the Money Insurance which obviously is for cash transactions and the same also covers owners/ Directors as insured in the said policy.