GLOBAL ISPAT LTD. Vs. ORIENTAL INSURANCE LTD.

JUDGEMENT

(1.) This appeal has been filed by the appellant against the order dated 04-12-2012 passed by the Learned State Commission in Complaint No.01/11 - M/s Global Ispat Pvt. Ltd. v. Oriental Insurance Co. Ltd., by which complaint was dismissed.

(2.) Brief facts of the case are that the complainant-appellant manufacturer of steel ingots having factory in Industrial Estate, Cuncolim, Goa got it insured from opposite party/respondent under Standard Fire and Special Perils Policy for a period of one year from 13-04-2009 to 12-04-2010. Later on, policy was modified to the extent that policy would extend to include loss or damage by fire only of or to the property insured caused by its own fermentation, natural heating or spontaneous combustion. On 04-07-2009 at 5.30 P. M. there was a dreadful explosion in complainants factory causing extended damage to the factory premises, machinery and stock. Complainant reported the matter to police and opposite party on the same day. Opposite party got preliminary survey by local surveyor on the same date. Mr. Vijay Kumar Saokar was appointed as surveyor by the opposite party who conducted survey on 05-07-2009 and joint inspection on 06-07-2009 along with General Manager of the complainant and surveyor by letter dated 13.07,2009 informed complainant that there was no damage to the sponge iron due to explosion and claim for sponge iron will not be entertained under the Perils of explosion. Final report was submitted by surveyor on or about 05-09-2009 assessing gross loss of Rs. 13,87,500/- and net loss payable Rs. 7,09,556/-. Opposite party forwarded discharge voucher for Rs. 7,08,967/- in full and final settlement of the claim but complainant returned discharge voucher as this amount was offered against claim of Rs. 99,48,635/-. Alleging deficiency on the part of opposite party, complainant filed complaint before State Commission. Opposite party resisted complaint and submitted that opposite party disclaimed their loss beyond Rs. 7,09,556/- by letter dated 08-10-2009 and the complaint has been filed on 21-01-2011 whereas it should have been filed within 12 months from the date of disclaimer and as such complaint is not maintainable and prayed for dismissal of complaint. Learned State Commission, after hearing both the parties, dismissed complaint as barred by limitation.

(3.) Heard learned counsel for the parties finally at admission stage and perused the record.