SONA CERAMIC Vs. NEW INDIA ASSURANCE CO LTD

JUDGEMENT

(1.) THIS complaint was filed in this Commission on 29.10.2002. Sona Ceramic, the complainant, a partnership firm, suffered loss due to earthquake of more than 7.6 on Richter scale on 26.01.2001, which caused damage to its building, machinery, etc., at Rajkot in Gujarat,. The complainant had obtained insurance policy from 23.05.2000 to 22.05.2001 from the New India Assurance Co. Ltd., OP. Risk cover in the insurance policy was Rs.1.35 crores. The complainant suffered severe damages to the tune of about 45 lakhs. The break -up of the same is given below : -

(2.) THE complainant has already received from the OP a sum of Rs.7,74,000/ - on 05.10.2001. Now, it has claimed a sum of Rs.37,09,689/ -plus Rs.10,01,616/ - (interest @ 18% p.a., from 01.05.2001, till the date of complaint), total being Rs.47,11,305/ -, with costs and pendent lite for the said loss. It is averred that the building was erected at a cost of Rs.1.69 crores. Its valuation report dated 01.12.1999 has been placed on record. Mr.A.S.Surani, Approved Valuer has assessed the above said loss. All the loss has been accounted in the ledger pages which are placed before this Commission. After the earthquake, there was no power supply for a very long period and the complainant company had to run its 250 KVA Generator. There is damage to the kiln to the tune of Rs.6.88 lakhs.

(3.) THE District Industrial Centre had made at its own assessment regarding the damage to the Unit. It came to the conclusion that the complainant has suffered a loss in the sum of Rs.41.25 lakhs. Its certificate dated 23.03.2001 has been annexed with this complaint. The Regional Manager of the Insurance Company at Ahmedabad has given the split details of the complaint on 03.08.2001.