JUDGMENT

1. The Appellants/OPs filed the instant Appeal under Section 19 of the Consumer Protection Act, 1986 (“the Act”), against State Consumer Disputes Redressal Commission, Lucknow (“State Commission”) Order dated 30.04.2010 in CC No. 01/2006 allowing the Complaint.

2. As per the Registry report, there is 76 days delay in filing this Appeal. For the reasons stated in IA /02/2010, the delay is condoned.

3. For convenience, the parties in the present matter are being referred to as per position held in the Consumer Complaint.

4. Brief facts of the case, as per the Complainant, are that the Complainant is the owner of Motor Vessel "MIRAJ" utilized for self- employment in the shipping business, transporting materials between locations as per customer requirements. The Complainant adhered to the pre-requisite terms of Opposite Party (OP) Insurer by obtaining a valuation report for the vessel prior to obtaining insurance. Thus, M/s JB Boda Surveyors Pvt. Ltd. issued a report determining the market value at Rs.1,15,00,000 on 07.02.1996. Upon consideration of this valuation, OP Insurer issued policy No. 300506/22/08/4102748 for Rs.1,05,00,000 covering the period from 08.02.1997 to 07.02