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NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION
DR. INDER JIT SINGH, PRESIDING MEMBER, DR. SUDHIR KUMAR JAIN, MEMBER
THE ORIENTAL INSURANCE CO. LTD. – Appellant
Versus
HRIDAY CREDIT CO -OPERATIVE SOCIETY LTD. – Respondent
| Table of Content |
|---|
| 1. hearing process and order issuance. (Para 1 , 2) |
| 2. contentions raised by both parties. (Para 3) |
| 3. discussion on the inclusion of stop-loss clause. (Para 4 , 5) |
| 4. rightful modification and consent requirements. (Para 6 , 7) |
| 5. final ruling regarding the dispute. (Para 8 , 9) |
ORDER
1. Heard learned counsel for both sides.
2. The challenge is to the order dated 14.08.2024 of the State Commission, vide which the complaint filed by the respondent society herein was allowed with the following directions:
“This complaint filed by complainant society is allowed partially against opposite party-insurance company and following order is passed –
(1) Opposite Party-Insurance Company would pay Rs.62,14,036/- (Sixty two lakh fourteen thousand Thirty six) to complainant society within the period of two month from today and will pay interest at the rate of 9 percent per annum on this amount since the date of filing complaint dated 10.03.2017 till full & final realization.
(2) Opposite Party-Insurance Company will pay Rs.25000/- (Twenty five thousand only) to complainant society within the period of two months from today in the form of cost of complaint and in case of default in payment
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