Date of filing : 24.09.2013.

IN THE TAMILNADU STATE CONSUMER DISPUTES REDRESSAL COMMISSION, CHENNAI.

Present:Hon’ble THIRU.JUSTICE R.SUBBIAH:PRESIDENT C.C.No.132 of 2013 Friday, the 31st day of January, 2025 M/s. Sree Amrutha Overseas, Represented by its Proprietor, Mr.P.K.Padmanaban, Vijayagar Koil Street, No.291, Perumber Kandigai Village, Madurantakam Taluk, Kancheepuram District. ... Complainant -Vs-

The New India Assurance Company Limited, Represented by its Branch Manager, No.116-A, GST Road, Chengalpattu - 603 001. ... Opposite Party Counsel for the Complainant : M/s. Rajesh Babu Counsel for the Opposite party : M/s. Radha Devi This Complaint came up for final hearing on

24.01.2025, and on hearing the arguments of the counsel for the Complainant and the counsel for the opposite party and on perusing the material records, this Commission made the following :-

ORDER

JUSTICE R.SUBBIAH, PRESIDENT This Complaint has been filed by the complainant under Section 17(1) (i) of the Consumer Protection Act, 1986, as against the Opposite Party, for the following reliefs:-

(a) To direct the opposite party, to pay a sum of Rs.36,03,125/- to the complainant which was claimed by the complainant vide its claim form dated 03.05.2011, together with term loan interest @ 12.5% of the loan amount and cash credit working capital interest @ 12%

per annum;

b) To pay a sum of Rs.7,00,000/- towards liquidate damage as well as the monetary loss suffered by the complainant due to the negligence of the opposite party;

c) To pay Rs.5,00,000/- towards the physical and mental agony suffered by the complainant due to the opposite party; and d) To pay the cost of the proceeding.

2. The case of the complainant is that the complainant's concern was established on 21.10.2009. The main business of the complainant's concern is to manufacture PU products like Chappal, footwear, toys, engineering products etc., At the time of establishing the industry, the complainant availed small scale industrial loan for a sum of Rs.27,84,000/- from State Bank of India, Madurantakam Branch. Apart from availing the loan from its banker, the complainant had also invested a sum of Rs.22,16,000/- from and out of his hard earned money and also from availing hand loans from relatives and friends. Therefore, the complainant had altogether invested a sum of Rs.50,00,000/- to commence its business. The total investment of the complainant including that of the bank loan and the hand loans received from the relatives and friends were utilized for procuring machineries like PU Machinery, compressor, Weighing Machine, Drilling Mchine, Trollies, mould, raw material chemicals and transform and also for constructing shed measuring to an extent of 1,800 sq. ft., those that are essential for commencement of the complainant's business. The complainant had insured its factory with the opposite party under Standard Fire and Special Peril Policy vide Policy No.71200311100100200049, covering a period of one year starting from 20.12.2010 to

19.12.2011 under Customer ID No.PO06188226. The opposite party had tie up with the banker of the complainant, i.e. the State Bank of India and therefore, when the complainant had availed small scale industrial loan from its banker the staff of the opposite party, who was available in the office of the banker of the complainant at Madurantakam approached the complainant and made the complainant to register a policy and the complainant took the above said policy. Ever since its inception the complainant was actively performing manufacturing work in its factory premises and it had a constant and stable exporters work placed by its customers and the components manufactured in the complainant's factory were exported to various countries by its customers. While so on 04.04.2011, the complainant's factory suffered fire accident due to electrical short circuit, which was immediately intimated to the G-9, Acharapakkam Police Station and the Acharapakkam fire department. The fire i