NATIONAL INSURANCE CO LTD Vs. RAM KUMAR AGGARWAL

JUDGEMENT

(1.) This appeal is filed by the appellant-National Insurance Company against the order of the State Commission awarding Rs. 79,500 along with interest @ 15% from 1.1.1993 and cost of Rs. 1,500. Briefly the facts are that the respondent had taken two insurance policies i.e., burglary policy and a money policy, valid during the period of burglary from the office premises of the respondent.

(2.) According to the respondent complainant his office premises was burgled in the night of 8/9.10.1992 wherein Rs. 84,549.50 were stolen and other items like TV set were also taken. In all loss was estimated at Rs. 1,07,480.50. When the matter was taken up with the appellant Insurance Company the appellant while admitting liability of Rs. 12,525 against burglary of TV set repudiated the claim under money policy on the ground that the respondent-complainant kept the money in violation of Clause (3) of the exception of the terms of the policy. The State Commission after hearing both the parties awarded in all Rs. 79,525 say Rs. 79,500 against both burglary and money policy along with rate of interest @ 15% from 1.1.1993 and cost of Rs. 1,500.

(3.) It was argued by the learned Counsel for the appellant that Insurance Company is ready to pay for the cost of TV which is covered under Burglary Policy but State Commission could not have given any other amount under Money Policy as the respondent/complainant had violated Clause (3) of the exception of the terms of the policy. Clause (3) of the Exception reads as under: The Company shall not be liable in respect of loss of money.