UNITED INDIA INSURANCE CO LTD Vs. DEEPAK MATHUR

JUDGEMENT

(1.) THE respondent No.1/complainant -Deepak Mathur purchased a Tata Sumo vehicle bearing registration No.HR -55 (T) 8662 and got the said vehicle registered as a taxi. It was insured with the petitioner/insurance company for the first year for Rs.4,40,000/ - but for the second year i.e. for the period from 12 -05 -2002 to 12 -05 -2003 the vehicle was got insured for Rs.4,00,000/ -. The vehicle got stolen on 24 -08 -2002 and an FIR in this regard was lodged with the police station. Since the vehicle could not be traced, the respondent No.1 submitted a claim to the petitioner/insurance company for the insured sum of Rs.4,00,000/ -. The insurer -company, however, offered a sum of Rs.2,78,500/ - to him, that being the market value of the vehicle assessed by its surveyor.

(2.) BEING aggrieved from the amount offered to him by the insurance company, respondent No.1 filed a complaint before the District Consumer Disputes Redressal Forum, South West Delhi (for short, the District Forum) seeking payment of the entire insured amount of Rs.4,00,000/ - along with interest at the rate of 18% p.a.

(3.) THE complaint was resisted by the insurance company on the ground that the complainant/respondent No.1 on 28 -06 -2001 entered into an agreement with one Chaudhary Ishwar Singh for sale of said vehicle to him and possession of the vehicle had also been given to the purchaser on that very date. It was claimed that the aforesaid fact was not disclosed by the complainant to the insurance company. The stand taken by the company was that on sale of the vehicle the complainant was left with no insurable interest in the vehicle and the policy and, therefore, it was not obliged to make any payment to him.