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A. P. SAHI
Raj Ginning Industries – Appellant
Versus
New India Assurance Company Limited – Respondent
ORDER
The Complainant is a Cotton Ginning Company for which it has stocks of cotton, cotton loose, cotton seeds that emerge after ginning and utilized for preparation of oil and oil cases, and it is for these stocks that insurance policies have been under taken namely the Special Fire and Perils Policy to secure the goods against any losses. The present Complaint is in relation to a loss occurred due to a fire on 03.05.2011 causing damage to the cotton, cotton bales and other materials that were stocked in the two godowns at the premises in question and also stocked outside the godown in the open area. The entire loss included raw as well as finished cotton.
2. The insurance policies were taken from the two Insurance Companies namely the New India Assurance Co. Ltd. the Opposite Party No.1 and the National Insurance Co. Ltd. the Opposite Party No. 2 herein. The surveyors were appointed who assessed the loss. The cause of fire was suspected to be accidental and then the loss was assessed in respect of the policies taken from both the Insurance Companies.
3. The three polices taken from the New India Assurance Co. Ltd. were one for the goods in godown no.1&2, one for the goods in godown
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....
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....
A discharge voucher signed under coercion is not a bar to arbitration for resolving disputes regarding the validity and amount of claims.
The main legal point established in the judgment is the principle of 'accord and satisfaction,' which bars further claims after the acceptance of a payment without objection.
Mare signing of discharge voucher will not bar the claimant from raising a dispute before consumer commission.
Insurance claims for damages caused by external terrorist activities were established under applicable policies, justifying full compensation despite defenses based on pilferage allegations.
Coercion – Mere allegation is not sufficient to constitute that the Complainant was coerced.
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