1. Complainant is a registered partnership firm engaged in the business of manufacturing different grades of Whole Tyre Reclaim Rubber Sheet, Natural Tube Reclaim Rubber Sheet, Buty Tube Reclaim Rubber Sheet, EPDM Rubber Sheet Rubber Powder, Plastic Granules etc. It was enjoying cash credit facilities from M/s. Dena Bank. Per the plaint, Clause 2 of the terms and conditions of the bank's sanction letter dated 24.9.2010 , required the goods to be fully insured against the risk fire, theft, burglary, SRCC with bank clause. M/s. Dena Bank was taking insurance on behalf of the complainant from the Insurance Company of its choice by acting as an agent of opposite party No. 2 ( M/s. United India Insurance Company Limited). It used to get signatures on blank proposal form of the Insurance Company and get the insurance accordingly. The copy of the insurance policy was also retained by the bank itself and it was never handed over to the complainant as the complainant was assured that its risk is always covered as it bank is also covered equally (para 8 of the amended complaint).

2. On 22.4.2011, a fire took place in the factory premises of the complainant. A claim of Rs. 3,85,12,069 was lodg