ZORO GARMENTS PRIVATE LIMITED BY ITS MANAGING DIRECTOR N F MOGRELIA Vs. EXPORT CREDIT GUARANTEE CORPORATION OF INDIA LIMITED

JUDGEMENT

(1.) This civil suit has been filed, to pass a judgement and decree, against the Defendant:-

(2.) Plaint:- The Plaintiff is a Private Limited Company, incorporated under the Companies Act, 1956 and is engaged in the business of manufacture and export of garments to various countries. They are recognized Export House for over 30 years. The 1st Defendant is the Government of India Enterprise formed with the sole object of providing guarantee by way of insurances to the recognized registered Export Houses and the 2nd Defendant is the In-charge of day today activities of the 1st Defendant Company. It had been stated that the Plaintiff had insured their exports with the 1st Defendant. The details of the goods exported and the premium paid are given in the following table:-

(3.) It had been further stated in the plaint that the Plaintiff had obtained a comprehensive risk shipment policy by Policy No.SCR 0052549 and this was renewed every year and for the year 2001 by the Defendants' letter No.POL/SCR/52549/01 dated 19.1.2001. One of the main objections was that the Plaintiff can claim a major portion of the loss under the policy if payment for anyone of the shipments gets locked, delayed or lost due to commercial and political reasons mentioned in the policy. The policy had been renewed till the year 2006. Whenever renewal is done, the Defendants intimate the exact premium payable for the credit limit sanctioned. No claim bonus is also given by the Defendants under the policy if claim is not preferred by the Plaintiff. This is to be adjusted in the subsequent policy. It is the contention of the Plaintiff that they had a credit of Rs.1,33,552.37/- as no claim bonus, but which the Defendants did not adjust during the subsequent renewals.