(1.) THIS Letters patent Appeal arises out of the Judgment dated 8-9-1994 passed by learned Single Judge in Arbitration petition No 280/1999. Before adverting to the submissions advanced before us by the learned counsel for respective sides, it would be desirable to narrate the material facts of the case.
(2.) M /S Gulmarg Hotel Ltd. Thereafter Appellant is a companies Act. 1956 and Shri Ghulam Mohammad is its Managing Director. Appellant started Hotel business at Boulevard (Srinagar) after investing huge funds gathered from different sources. The Appellant was earning profits right from the beginning.
(3.) APPELLANT was insured with the respondents under policy No. 23423/10/90/ 01790 dated 23 -10 -1986 for amount of Rs.77.00 lac against premium of Rs.23,870,00. The policy was renewed for period from 23 -10 -1986 to 22 -10 -1997 for the same amount. Unfortunately, in the devastating fire that took place on 30 -9 -1987, the whole Hotel Complex was reduced to ashes.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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