DHARA ENTERPRISES Vs. NATIONAL INSURANCE CO. LTD.

JUDGEMENT

(1.) THIS consumer complaint is filed alleging deficiency in service for repudiation of the insurance claim by the insurance company. It is alleged that the goods/stock stored in the godown were damaged in the floods of 25th and 26th of July, 2005 and there was a total loss to the extent of Rs.81,00,000 and odd. An insurance claim was made to the extent of insured value of Rs.30,00,000 and the same stood repudiated by the Opponent No.1, namely National Insurance Company Ltd. (hereinafter referred to as the insurance company for the sake of brevity) by its letter dated 18.11.2005 referring to the Surveyors Report and observations to the effect that as the flood damaged stocks or their remains could not be physically checked/verified at the site, it is impossible to consider admittance of the claim Feeling aggrieved thereby this consumer complaint is filed on or about 22.6.2006. The Opponent No.2, namely Indian Overseas Bank (hereinafter referred to as the Bank for the sake of brevity) is the financer of the Complainant with whom the damaged goods alleged to have been pledged.

(2.) INSURANCE company appeared and resisted the claim justifying their repudiating their written version dated 17.8.2007 and which is affirmed by its official, namely Bidya Bhushan Patra, in his affidavit dated 26.11.2008, which is tendered in evidence on behalf of the insurance company.

(3.) THE Opponent No.2 Bank resisted the claim as per its written version dated 2.8.2007, duly affirmed by way of verification by an affidavit of Mr. Ramkrishna Senior Manager. The Bank is impleaded as a formal party since no relief is claimed against it and this is what exactly the Bank has stated in its written version too. It is pertinent to note that in its written version or verification affidavit, the Bank did not refer to the Stock Statement or the actual stock in the godown at the time of event of flood.