Common Judgment:

1. The above appeals have been filed against the judgment and decree passed by the VI Additional Judge, City Civil Court, Chennai in O.S.No.1862 of 2007 dated 24.06.2008. The suit in O.S.No.1862 of 2007 was filed by the appellant in A.S.No.963 of 2008 seeking a money decree for a sum of Rs.6,86,613/- with interest at 24% per annum on the principal sum of Rs.5,53,720/-.

2. According to the plaintiff, a sum of Rs.5,53,720/- represents the damages caused to the goods of the plaintiff stored at its place of business namely, New Kashmir Arts and Crafts No.171, (Old No.111) Near LIC Building, Mount Road, Chennai-2. The case of the plaintiff is that, it is a partnership firm carrying on business in sale of Kashmiriart, Kashmiri and Oriental carpets, handicrafts and jewellery. It has got three retail outlets in Chennai City. The plaintiff has taken Insurance Policy covering risks by storm, cyclone, typhoon, tempest, hurricane, tornado, flood or inundation, earthquake, fire and shock.

3. According to the plaintiff, it valued the goods for Rs.1,16,00,000/- and it had paid a premium of Rs.37,004/-. The policy was for a period of one year between 30.8.2005 to 24.8.2006.