SHREE PIPES LTD Vs. NATIONAL INSURANCE CO LTD

JUDGEMENT

(1.) This complaint has been filed by M/s. Shree Pipes Ltd. against the National Insurance Company claiming compensation amounting to Rs.3,67,092/- for short delivery of the consignment and Rs.1,00,000/- as interest @ 21% p. a. from 21.3.90,in all Rs.4,67,092/-. The complainant has further claimed Rs.1,00,000/- for mental distress and agony.

(2.) It appears that two consignments of asbestos grade BV 4t of 80 MT and 40 MT were consigned to the complainant by the Mineral and Metals Trading Corporation of India Ltd. , Bombay. This goods was raw material for manufacturing asbestos cement, pressure pipes and had been imported in India from foreign countries. Under a Marine Certificate of Insurance, the consignment was got insured from the National Insurance Co. Ltd. by the Mineral and Metals Trading Corporation of India Ltd. in the account of the complainant. When the consignment reached Bombay Harbour, there was a shortage of 31 Pallets. The complainant lodged a claim with the National Insurance Co. Ltd. on 21.3.90.

(3.) The question now involved in this complaint is very narrow. The National Insurance Co. Ltd. has settled the claim of the complainant on 14.8.92 by making payment of a sum of Rs.3,59,315/- to the complainant. In this regard, the complainant sent a receipt duly signed by him acknowledging the said receipt of the amount being in full settlement and satisfaction of his claim under the insurance policy.