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K.S.P
A-15-777
Page 1 of 14
BEFORE THE CONSUMER DISPUTES REDRESSAL COMMISSION,
GUJARAT STATE AT AHMEDABAD.
Court-3
APPEAL NO. 777 of 2015 Dt: 07.04.2021
Amidhara Enterprise
Through its Proprietor
Hiren Gauvantrai Bhatt
Sidnath Compex,
Kashi Vishwanath Road,
Jamnagar.
…Appellant
Vs.
1. Indian Overseas Bank
Manek Centre,
Pandit Nehru Marg,
Jamnagar.
2. The Universal Shompo
General Insurance Co. Ltd.
A-201, Crystal Plaza,
2nd Floor, Infinity Mall,
Link Road, Andheri,
Mumbai.
...Respondents
Appearance: Ms. N. C. Thakkar, Ld. Advocate for the Appellant
Mr. N. S. Dave, Ld. Advocate for the Res. No.1
Mr. V. P. Nanavaty, Ld. Advocate for the Res. No.2
Coram: (Shri S. N. Vakil, Member)
(Smt. J. Y. Shukla, Member)
Order by Shri S. N. Vakil, Member
1. This is Complainant’s Appeal.
2. The complainant – Hiren Gunvantray Bhatt filed Consumer Complaint
No. 86 of 2013 against Indian Overseas Bank and The Universal Shompo
General Ins. Com. Ltd. with CDRF, Jamnagar that he is doing business
Details
DD
MM
YY
Date of Judgment
07 04
2021 Date of filling
31 03
2015 Duration
07 00
K.S.P
A-15-777
Page 2 of 14
as distributor of pesticides in Siddhnath Complex; runs administration
office at shop No. 138 and keeps distributor stock at shop No. 136, 139-
A. Shop No. 136 and 139-A were initially taken on rent and then
purchased on 09.08.2010. He Hypothecated distribution stocks with the
India Overseas Bank and obtained cash credit facilities. Before issuing
cash credit facilities the documents were prepared, and stamp and
signature of the complainant was being taken on the terms and condition
on year to year basis. Cash credit facility was sanctioned and on its
advise his signature was taken and the Bank Manager also signed.
Initially the cash credit facility was for Rs. 10 lakhs and then enhance to
18 lakhs which present is for 16 lakhs. As per the condition put by the
Bank in cash credit advise it was compulsorily to take insurance of
security goods under which the Insurance of the stock kept in godown
138 and 139-A and of the Office No. 138 has been taken by the Bank
from its selected Insurance Company - the Opponent No.2, and its
premium are being debited by the Bank from Complainant’s account.
Under circumstances it is the responsibility of the bank to take
insurance of shop No. 136, 138 and 139 and only after its premium is
paid, the bank gives cash credit facility. upon premium paid by the Bank
the
insurance
Company
issued
policies
being
No.
(1)
2114/501/75462/00/000 - Standard Fire and Special Parel Policy
issued on 01.08.2009 for the period from 17.07.2009 to 16.07.2010,
renewed from 17.07.2010 to 16.07.2011 issued on 28.10.2010 and again
renewed for 18.07.2014 to 17.07.2012 issued on 28.07.2011 and (2)
Policy No. 2913/501/75461/00/000 - Burglary Policy for the period from
17.07.2009 to 16.07.2010 issued on 01.08.2009, renewed from
17.07.2010 to 16.07.2011 issued on 28.10.2010 and again renewed from
K.S.P
A-15-777
Page 3 of 14
18.07.2011 to 17.07.2012. In the first policy shop No. 138 and 139 were
described in location description therein. There was no mention of 136
therefore he wrote a letter to opponent No.1 the bank to add shop No.
136 and get endorsement in the policy, got the letter inward in the
opponent No.1 – bank. It was the responsibility of the bank to get shop
No. 136 added and endorsed in the policy. The opponent No.1 having
deducted the premium for shop No. 136, 138 and 139 and sent it to the
insurance company, the risk for shop No. 136, 138 and 139 is deemed to
have been covered and hence the insurance for all the three shops were
covered. On 06.10.10 fire broke out for short-circuit in complainant’s
shop, pesticides and another stock etc. worth Rs. 25 lakhs kept in shop
No. 136 in which due to fire the stock worth Rs. 19.50 lakhs were burnt
and lost. The complaint of the fire was gi
