GULABCHAND SHANKAR LAL Vs. ORIENTAL INSURANCE CO LTD

JUDGEMENT

(1.) The petitioner/complainant is a partnership firm and is engaged in trading as a commission agent. It is stated specifically in the consumer complaint that under commission agency (aadat) the goods received from different parties are sold at an appropriate price and thereafter payment of those goods is made to those parties after deducting commission of the complainant from the sale proceeds. In paragraph 4 of the consumer complaint also it is specifically alleged that the custody of the goods of the concerned parties remains with the complainant and, therefore, it is the responsibility of the complainant to protect those goods and keep them safe. It is also alleged that for this reason the goods were being kept in cold storage till appropriate rate for those goods was available in the market.

(2.) The complainant obtained an insurance cover from the respondent company with respect to the goods kept in different cold storages. As per the cover note dated 04.04.2006 issued to the complainant, the goods comprised spices etc. which had been kept at various locations in the cold storage premises as per the list enclosed thereto.

(3.) A fire broke out in the cold storage resulting in destruction/damage of the goods kept in the cold storage. A claim was lodged with the insurance company which deputed a surveyor who assessed the loss to the complainant. The surveyor found that only goods worth Rs. 4,11,231/- out of the goods kept in the cold storage were owned by the complainant whereas the remaining goods in respect of which insurance cover had been taken were third-party goods which the complainant was holding in trust and since no insurance cover had been taken in respect of the goods held in trust, the complainant was not entitled to reimbursement for the loss of those third party goods.