JAGJEET SINGH Vs. UNITED INDIA INSURANCE CO. LTD.

JUDGEMENT

(1.) THE petitioner/complainant availed a loan of Rs. 10,00,000/ - from the State Bank of India, Barnala. The aforesaid bank arranged an insurance cover for the cattle and the equipment which were financed by the bank. The insurance premium, according to the complainant was deducted by the bank from his account. The insurance policy was issued in the name of State Bank of Patiala, ADB Barnala A/c Jagjeet Singh.

(2.) THE case of the complainant is that on 9/10 -06 -2011, a severe thunder storm hit his cattle shed with a high impact, resulting in the shed being crushed and its roof, columns, boundary as well as enclosures getting severely damaged. The complainant reported his loss to the insurance company. He independently approached one architect who assessed the loss at Rs. 5,62,000/ -.When the matter was taken up with the insurance company, a surveyor was appointed and the said surveyor, after visiting the spot, assessed the damages to the shed at Rs. 1,23,038/ - The complainant signed a consent letter in favour of the insurance company agreeing to accept the assessment made by the surveyor, who had computed the liability of the insurance company at Rs. 1,23,038/ -. A discharge voucher was also signed by the complainant and the cheque of Rs. 1,23,038/ - was credited to the account of the complainant. Since the complainant was not satisfied with the aforesaid amount he approached the concerned District Forum by way of a complaint.

(3.) THE District Forum, vide its order dated 22 -08 -2012, directed the insurance company to pay a sum of Rs. 3,77,062/ - to the complainant along with interest on that amount at the rate of 9% per annum. It was also directed to pay Rs. 15,000/ - as compensation to him.