NOOR ALI Vs. NATIONAL INSURANCE CO LTD

JUDGEMENT

(1.) Leave granted.

(2.) Heard learned Counsel for the parties.

(3.) The appellant is engaged in the business of motor parts. He took fire insurance policy for the period from 18th July, 2003, to 17th July, 2004 for a sum of Rupees ten lakhs. On the night intervening 3rd/4th August, 2003, at about 11.00 p.m., a fire incident took place in which the appellant's goods and shops were damaged. On receipt of intimation from the appellant, the respondent deputed a Surveyor and Loss Agent, Shri K.B. Mahajan, who after assessment, submitted report dated 15th December, 2003. Shri Mahajan assessed the loss to the appellant at Rs. 1,79,111/-. Thereafter, the Insurance Company released Rs. 1,21,117/- in favour of the appellant as full and final settlement of his claim. The appellant accepted the amount under protest. This was clearly recorded in the form of endorsement made on letter dated 17th March, 2004 written by the Branch Manager of the respondent to the Senior Manager, Bank of Baroda.