JUDGMENT

This Civil Suit has been filed by the Plaintiff for a direction to the Defendant to pay the Plaintiff a sum of Rs.1,08,04,597/- together with further interest at 18% p.a. on the Principal Sum of Rs.70,15,972/- from the date of suit till the date of realization, with further direction to the Defendant to pay the cost of the suit.

The case in nutshell is as follows:

2. The Plaintiff-Company (hereinafter referred to as 'the Company') is into the business of execution of large civil and engineering construction work for Government and Private Organizations for the last eight decades and the Company was awarded a contract by M/s.Tata Steel Limited for certain engineering works to be carried out at the Tata Steel Complex at Jamshedpur. For the purpose of execution of the said work, the Company had purchased a Tata Hitachi Heavy Duty Crane (in short 'the Crane'), bearing Sl.No.H1-50-045- 0020 (Engine No.25214013, Chassis No.HI-50-045-0020) from M/s.Telco Construction Co. Ltd., Jamshedpur on 17.07.1999 for Rs.3,01,80,509/-;

2.1. It was submitted by the Company that the Company had clearly mentioned in the proposal of insurance that the Crane was proposed to be deployed inside the prem