NEW INDIA ASSURANCE COMPANY LTD Vs. BALAJI EMPORIUM

JUDGEMENT

(1.) SHRI Puran Chand Nagpal, Proprietor of M/s. Balaji Emporium, the complainant, transacts his business at House No. 9, New Housing Board Colony, Bilaspur, Himachal Pradesh. He obtained an insurance policy from New India Assurance Company Ltd., the OP, through the Punjab National Bank, Bilaspur, and hypothecated his firm, for a period of one year commencing from 27.12.2004 to 26.12.2005, in the sum of Rs. 5,00,000/ -.

(2.) UNFORTUNATELY , on 22.02.2005, a fire broke out in the garment shop of the complainant at Shop No.3, near RTO Office, Bilaspur, which gutted all the articles kept lying in the shop, including furniture and clothes. The police as well as the insurance company and the Punjab National Bank, were informed of the incident on the following day, i.e., on 23.02.2005.

(3.) THE Surveyor assessed the loss at Rs. 58,406/ -. While aggrieved, the respondent/complainant filed a complaint before the District Forum seeking an amount of Rs. 4,46,791/ - towards stock destroyed in fire, Rs. 25,260/ - towards loss of furniture, Rs. 20,000/ - towards mental agony and Rs. 10,000/ - towards costs.