SATHISH NINAN, J.

The defeated defendant in a suit for recovery of money is the appellant.

2. The stock of raw materials, finished and semi finished goods of the plaintiff Company situated at various places including its premises at M/s. Malik Company, Salem, was insured by the plaintiff with the defendant, Insurance Company. The suit was filed on the refusal on the part of the defendant in settling the insurance claim made by the plaintiff alleging burglary at the premises referred to. Towards realisation of the debts due to Tamil Nadu Industrial Investment Corporation (for short "the Corporation"), the factory, M/s.Malik Company, was taken possession of by the Corporation on 04.03.1993. Subsequently, on 05.07.1993 on some settlement with the Corporation, the premises were handed over back to the plaintiff. Two days later, on 07.07.1993 an FIR was lodged alleging burglary at the premises of M/s.Malik Company during the period between 04.03.1993 and 05.07.1993, when the premises were in the possession of the corporation. The complaint was forwarded to the defendant company on 09.07.1993. The claim was repudiated by the defendant on 15.02.1995. Thereupon the plaintiff approa