BANSI LAL Vs. NEW INDIA ASSURANCE CO LTD

JUDGEMENT

(1.) This appeal has been filed against the order of the District Forum No.1 dated 15th July, 1993.

(2.) Briefly the facts of the case are that the complainant insured a Motor Cycle with New India Assurance Co. Limited for Rs.22,000/-. It was financed by State Bank of India (respondent No.2 ). It was stolen on 13th Dec, 1991. The complainant lodged a complaint with the New India Assurance Company which was settled on 7.7.1992. However, they did not make the payment. Consequently, the appellant filed a complaint.

(3.) It was contested by the respondent. The District Forum held that the matter had been settled between the parties and respondent No.1 was prepared to pay the amount of Rs.20,000/- in terms of the settlement. Consequently, it directed them to pay Rs.20,000/- with interest @ 12% p. a. w. e. f.7th July, 1992 till the date of payment. The complainant has come up. in appeal against the said order to the Commission.