NATIONAL INSURANCE CO. LTD Vs. KHUNKHUN JI ORNAMENTS

JUDGEMENT

(1.) The present Appeal is filed against the order dtd. 21/10/2013 passed by State Consumer Disputes Redressal Commission, U.P. (in short 'State Commission') in Consumer Complaint No. 39/2006.

(2.) The Complainant/Respondent is a partnership firm engaged in the business of sale and purchase of gold and silver ornaments. The Complainant obtained Insurance Policy No.450402/46/02 3700566 for an amount of Rs.25,50,000.00 from the Opposite Party/Insurance Company, covering the Insurance of stock and stock of trade, consisting of Jewellery, Gold and Silver Ornaments, Plate Pearls and Precious Stone of any cost or kind whatsoever, cash and currency notes and/or the other merchandise and materials usually for conduct of business. The Policy was valid from 20/9/2002 to 19/9/2003. The case of the Complainant is that, on 17/7/2003 at about 3 PM, dacoity took place in shop Nos.27, 28, 29 of the Complainant situated at Bhootnath Market, Indira Nagar, Lucknow. At the time of the incident, other businessmen, namely Shri Anil Rathore and Shri Ashok Gandhi were also present and they were having ornaments weighing approximately 11 kgs amounting to Rs.55.00 Lakhs. The said businessmen were displaying the stock to the Complainant. The dacoity was committed by 5 person armed with pistol. At gun point they took away gold ornaments amounting to Rs.25,80,532.00 as well as stock of the said two businessmen weighing 11 kgs of gold and Nokia mobile phone. After the dacoity, the Dacoits ran away in a black colour Cello Car No.UP-32-Y-4337. On 17/7/2003 an FIR under Sec. 395/397 IPC was registered at Ghazipur Police Station at about 16.05 PM against 5 unknown persons. The Complainant submitted a claim of Rs.25,80,532.00 with the Opposite Parties for dacoity of 4915.300 gms of gold. On 17/7/2003, the Opposite Party appointed M/s Kanpur Claims Corporation, Surveyors for assessment of loss. Despite complying with the directions and submitting all the documents to the Surveyor, the Complainant did not get any response from the Insurance Company even after expiry of more than two years. The Complainant repeatedly requested the Opposite Party to settle the claim at the earliest. The Insurance Company settled the claim of the Complainant at Rs.8,45,260.00 and the amount was paid to the Complainant, vide Cheque No.007359 dtd. 23/3/2006. Under compelling circumstances, the Complainant accepted the amount offered by the Insurance Company and signed the discharge voucher on 23/3/2006. On 11/4/2006, the Complainant sent a letter to the Insurance Company to reconsider the claim. Opposite Party was also informed that the value of the gold had increased from Rs.5250.00 per 10 grams to Rs.9500.00 per 10 grams. Aggrieved by the settlement of the claim at a lesser amount of Rs.8,45,260.00, Complaint No.39 of 2006 was filed with the following prayer: -

(3.) The Complaintwas resisted by the Opposite Parties by filing the Written Statement stating that the Complainant did not produce all the documents as demanded by the Surveyor, due to which the loss was assessed at Rs.8,45,260.00 and paid to the Complainant. The delay in settling of the claim was due to non-submission of documents in time by the Complainant. The Complainant had willingly accepted the amount of Rs.8,45,260.00 in full and final settlement of the claim and signed the discharge voucher. The Complainant filed the protest letter after expiry of 2 months and 9 days. There was no deficiency in service on the part of the Opposite Party.