CHINAR HERBS Vs. NATIONAL INSURANCE COMPANY LIMITED

JUDGEMENT

(1.) Taken up through video conferencing.

(2.) Heard learned Counsel for the Complainant Firm and for the Insurance Co.

(3.) Brief facts of the matter are that the Complainant Firm obtained a Standard Fire and Special Perils Policy, through its Bank, State Bank of Mysore, hereinafter being referred to as the 'Bank', from the Insurance Co., for the period 08.06.2010 to 07.06.2011, for its stocks of goods in business. The sum insured was Rs.1,50,00,000/-. On the intervening night of 04.07.2010 / 05.07.2010, a fire took place in its godown. A report was lodged with the Police. The Complainant Firm wrote a letter dated 05.07.2010 to the Bank giving intimation of the fire and requesting that the Insurance Co. be informed accordingly. A letter dated 06.07.2010 was sent by the Bank to the Insurance Co. intimating it of the incident of fire in the Complainant Firm's godown. The Complainant Firm made a claim of Rs. 1,04,09,852.73p. The Insurance Co. appointed its Surveyor and Loss Adjusters. The Surveyor & Loss Adjusters furnished its Survey Report dated 17.03.2011, in which it assessed the loss at Rs. 12,05,942.00p. (only), and also recommended that the claim of the Complainant Firm be rejected on account of being fraudulent and false. The Insurance Co. repudiated the claim vide its letter dated 16.06.2011. The Complainant Firm filed its Complaint before this Commission on 11.10.2011, claiming a sum of Rs. 1,04,09,852.73p. together with compensation and cost of litigation.