JAGDISH DEVIDAS SOMAIYA Vs. ORIENTAL INSURANCE COMPANY LTD.

JUDGEMENT

(1.) S .A. Makhija, Member: 1. This complaint is filed by the complainant under the provisions of the Consumer Protection Act, 1986 (hereinafter referred to as the 'Act ' for the sake of brevity).

(2.) THE short facts of the complainant 's case are that the complainant had obtained the policy number 11/2000/01027 for the period from 9.9.1999 to 8.9.2000. This was the last policy and prior to that also policies were taken year to year. On 18.12.1999 in the night the fire broke out in the insured premises. Someone from the neighbourhood informed the Fire Station. Fire Brigade people controlled the fire by using four fire fighters. The FIR was registered by the police and police Panchnama was also drawn. The opponent No. 1 Insurance Company was also informed immediately. The complainants had suffered loss of goods valued at Rs. 9,89,382. The complainants had kept regular stock records, which were verified by the bank. The Mamlatdar, D.S.O. Jamnagar also had the stock reports of goods. The complainant had filed the claim with opponent Insurance Company but the claim came to be repudiated illegally on 31.7,2001. The complainants therefore have approached this Commission for redressal,

(3.) THE opponent No. 2 SBI, Jamnagar has filed its reply at Exh. 5 inter alia stating that the complainants are maintaining cash credit account with them and a limit of Rs. 4 lacs was granted to their unit against hypothecation of stocks. The unit had taken valid insurance policy from opponent No. l covering risk of Rs. 10 lacs and it was valid upto