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SUPREME COURT
Uday Umesh Lalit, J
Balwant Singh and Sons (M/s. ) v. National Insurance Company Ltd and Another
| Table of Content |
|---|
| 1. basic facts of insurance claim and theft. (Para 2 , 6 , 8 , 12) |
| 2. arguments regarding insurable interest and ownership. (Para 9 , 10) |
| 3. description of contractual obligations and insurers' liability. (Para 19 , 20 , 24) |
| 4. court's decision based on premium acceptance rights. (Para 23) |
| 5. the appeal was allowed, affirming liability. (Para 26) |
1. Leave granted.
2. This appeal arises from a judgment of the National Consumer Disputes Redressal Commission, ("NCDRC") dated 11 March 2014 dismissing a revision petition filed by the appellant. The NCDRC upheld the view of the District Consumer Disputes Redressal Forum, Jalandha""r, (District Forum) and of the State Consumer Disputes Redressal Commission, Chandigarh ("SCDRC") that the insurer was not liable on a claim preferred under a policy of insurance for the loss of a vehicle occasioned by theft.
3. The third respondent entered into a Hire Purchase Agreement with ICICI Ban ("Bank"), the second respondent through its Branch at Jalandhar in respect of a vehicle. Pursuant to the agreement, the third respondent paid a few instalments but then committed a default upon which possession of the vehicle was taken by the Bank. The
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