PACWELL INDUSTRIES Vs. NATIONAL INSURANCE CO LTD

JUDGEMENT

(1.) Shortly put and shorn of details Commission during the proceedings has impleaded JK Bank, Branch Office Zainakote as complainant No.2. Objections were sought from the parties. Both parties i. e. , complainant No.1 M/s. Pacwell Industries and National Insurance Co. Ltd. raised no objection for impleading JK Bank as party so Jammu and Kashmir Bank, Branch Office Zainakote is now as complainant No.2.

(2.) The case of complainant is that he was Managing Partner of M/s. Pacwell Industries (Small Scale Registered Unit) who was carrying the business of manufacturing of corrugated Boxes with the financial aid and assistance of JK Bank, Branch Office Zainakote and State Financial Corporation.

(3.) Complainant No.1 insured his movable and immovable property consisting of: (a) Plant and machinery for Rs.13,00,000.00 under Policy No.402007/3100556/90 with effect from 10.9.1990 to 9.9.1991. (b) Building for Rs.10,00,000.00 under Policy No.402007/3100226/90 with effect from 12.6.1990 to 11.6.1991. (c) Stocks for Rs.20,00,000.00 under Policy No.402007/3101072/90 dated 27.12.1990 to 26.12.1991