NEWINDIAASSURANCECOLTD Vs. ANAND ELECTRICALS RANCHI

JUDGEMENT

(1.) THIS civil revision application has been filed by the above named petitioner challenging the order dated 28.5.1994 passed by Shri R.P. Sharma, Subordinate Judge-I, Ranchi, in Miscellaneous Case No. 30 of 1992, whereby and whereunder, the application filed by the petitioner under Section 33 of the Arbitration Act (the Act) was rejected.

(2.) THE opposite party No. 1 contained a policy from the petitioner-Insurance Company regarding the electrical goods lying the shop of the opposite party covering burglary risk upto the limit of rupees one lac. A claim was made by the opposite party to the Insurance Company for payment as burglary was committed in its shop premises, the liability of the Insurance Company was not denied but regarding the quantum, there was a dispute and, as such, a surveyor was appointed and on the report of the surveyor, the Insurance Company assessed the loss at Rs. 46,031/- and offered the same to the opposite party.

(3.) THE only point that is required to be adjudicated is after the payment being made in full and final settlement, whether the insured has got any jurisdiction to invoke the arbitration clause as per the contract. As per the insurance policy, the arbitration clause runs as follows: