INTER STATE TRANSPORTS Vs. PFIZER LTD

JUDGEMENT

(1.) This appeal is directed against the judgment and decree of the trial Court in Original Suit No. 314/1974. The appellant who was the defendant before the trial Court was directed to pay a sum of Rs. 62, 141-97 with proportionate costs and current interest at 6 per cent per annum on the principal amount of Rs.56,727-97 from the date of suit till the date of payment, to the 1st plaintiff and a further sum of Rs. 55,100/-with proportionate costs and current interest at 6 per cent per annum on Rs. 50,320/-being the principal amount, from the date of suit till the date of payment to the 2nd plaintiff and also, costs incurred by plaintiffs 1 and 2 amounting to Rs6279- 40 and Rs. 5788-75 respectively.

(2.) The parties hereinafter be referred to by the position assigned to them in the trial Court.

(3.) Plaintiff No. 1 is Pfizer Limited Company and is the consignor of the goods in question to its branch office in Cochin. Plaintiff No. 2 is the Insurance Company and the goods in question had been insured by plaintiff No. 1 against transit risk with this Insurance Company. Originally, the insurance cover was taken on the Hanover Insurance Co. Ltd., but at the time of filing of the suit, the 2nd plaintiff had taken over the Indian business of Hanover Insurance Co. Ltd., and there is no dispute about the assignment of the rights of the first plaintiff under the policy of insurance to the 2nd plaintiff.