FINOLEX INDUSTRIES LTD. Vs. M.V. KEW BRIDGE

JUDGEMENT

(1.) The issue that is raised in this Notice of Motion taken out on behalf of the applicant is whether a plaintiff could maintain an action only for recovery of pure economic loss independent of physical damage

(2.) Before I briefly narrate the plaintiff's claim in the suit, let us look at the particulars of claim annexed to the plaint.

(3.) As regards claim no.2 and claim no.3, Mr. Dhond, the counsel for the plaintiff stated that the plaintiff is not pressing for the same and to that extent, security furnished by the applicant/defendant for release of the defendant vessel could be returned. As regards claim no.2, he said the plaintiff has not incurred any salvage cost and as regards claim no.3, he said they have not received any claim for demurrage. The claim in the suit therefore, will be restricted to production loss claim of Rs. 12,28,72,520.00.