(1.) THE complainant company took two fire policies from the opposite party, National Insurance Company Ltd. for the period from 09.09.2003 to 08.09.2004 in respect of its building at E -565 -66, Phase -IV, Focal Point, Ludhiana as well as the plant and machinery etc. which it had installed and the stock it had kept in the aforesaid building. A fire broke out in the aforesaid premises of the complainant on 18.04.2004. The case of the complainant is that as a result of the aforesaid fire, it sustained loss amounting to Rs. 3.91 crores. On receipt of intimation of fire, the Insurance Company appointed a surveyor, M/s. V. K. Kharbanda & Associates, who submitted a preliminary submission report recommending the liability of the Insurance Company at Rs. 2.62 crores and also recommending on account payment of Rs. 1.25 crores. However, no payment in term of the aforesaid report was made to the complainant though there were several correspondence exchanged between the parties. Eventually, the complainant Company settled the claim with the Insurance Company and submitted an affidavit of its Director, Mr. Krishan Arora, settling the claim at Rs. 1,39,82,571/ -. The aforesaid affidavit to the extent it is relevant reads as under: -
(2.) EARLIER an in account payment of Rs. 75 lakhs was paid by the Insurance Company to the complainant. Pursuant to the aforesaid settlement, a cheque dated 12.04.2006 for Rs. 64,82,571/ - was issued to the complainant and was accepted and got encashed by it. After receiving the aforesaid cheque of Rs. 64,82,571/ -, the complainant wrote a letter dated 15.04.2006 to the Insurance Company, under the signature of none other than Mr. Krishan Arora. The said letter to the extent relevant reads as under: -
(3.) SINCE , the Insurance Company did not make any further payment, the complainant approached this Commission by way of this complaint seeking the following reliefs: -