RAJESH TEXTILES Vs. NATIONAL INSURANCE CO. LTD

JUDGEMENT

(1.) THE insured M/s. J.S. Rajesh Textiles has filed the present revision petition. THE petitioner has business premises at D-25, Textiles Market, Pandri, Raipur. His business premises is being insured since last many years ' for fire and allied perils covered.

(2.) THE relevant policy was for the period from 06.02.2007 to 05.02.2008 for a sum of Rs.5,50,000. Torrential rains on the night falling between 28th and 29th June, 2007, caused damage to the clothes to the extent of Rs.3,00,000/-. Insurance Company appointed Sh.T.S. Tuteja, who, verbally informed the complainant about the estimated loss of Rs.2,00,000/-. THE Insurance Company was contacted but it did not reimburse the said amount.

(3.) IT must be borne in mind that the grant of interest has always been the discretionary power of the courts. No rule of thumb can be laid in this context. The counsel for the petitioner argued that there are several authorities which are in favour of the petitioner. We are also aware of two authorities. The first is reported in United India Insurance Co. Ltd. Vs. Great Eastern Shipping Co. Ltd., (2007) 7 SCC 101, where the Hon 'ble Supreme Court of India was pleased to observe, as under :