M/S. SRIRAJ STEELS (P) LTD. REP. BY ITS DIRECTOR MR. S. SRIDHARAN SANNIYASIKUPPAM, PONDICHERRY Vs. UNITED INDIA INSURANCE CO. LTD., REP. BY ITS BRANCH MANAGER, NO.24, III FLOOR, RATTAN BAZAR, CHENNAI

JUDGEMENT

(1.) The Suit filed for a direction directing the defendant insurance company to pay a sum of Rs.39,65,619.00 together with interest at the rate of 18% p.a. on Rs.31,55,000.00 from the date of filing this suit till the date of realisation and also to pay a sum of Rs.10,00,000.00 as damages for mental agony caused to the plaintiff for delay in rejection of the claim and for costs.

(2.) The Plaint :

(3.) It had been stated that due to the hostile action by the electricity department and financial strain, the unit was temporarily closed in Aug. 2006. The plaintiff have been taking Standard Fire and Special Perils Policy with the defendant from March 2003, which had been regularly renewed and the last renewal was from 04.04.2007 to 03.04.2008 valuing the building at Rs.44.50lakhs and stocks at Rs.40lakhs vide policy No.010803/11/07/11/00000006.The premium has also been paid.