SHARA Vs. ROYAL SUNDARAM ALLIANCE

JUDGEMENT

(1.) This complaint filed under Sec. 21/22 of the Consumer Protection Act, 1986 (in short, the "Act") alleges deficiency in service by the Opposite Parties in offering to settle a claim under a valid Combined Fire and Burglary Policy covering the insured premises for an allegedly undervalued amount.

(2.) Upon notice, Opposite Parties contested the complaint by way of written version. Complainant thereafter filed its rejoinder. Parties filed their evidence by way of affidavit. Short synopsis of arguments was also filed by both the parties. We have heard the learned counsel for the parties and carefully considered the material on record and submissions made.

(3.) The relevant facts of the case, in brief, are that the Complainant is a manufacturer and exporter of fashionable household furnishings located in a Special Economic Zone (SEZ) comprising registered office, show room, go down and manufacturing facilities which is the insured premises. Complainant obtained a Combined Fire and Burglary Policy (the "Policy") valid from 24/3/2011 to 23/3/2012 in respect of the premises at B-6 & 6A, EPIP, Kasna, Greater Noida, 201305 covering furniture, fixtures and stock of ready material, work in progress and finished goods on the premises along with stocks lying at various locations for a sum insured of Rs.6,85,00,000.00. A fire broke out on 25/4/2011 around 2.30 pm, the cause of which was determined to be an electrical short circuit and was extinguished by deploying men and firefighting equipment and summoning of the fire brigade. Police was informed and the Opposite Parties intimated. A claim of loss was filed on 20/5/2011. Opposite Parties appointed M/s Protocol Surveyors and Engineers Pvt. Ltd. as surveyor to assess the claim who, vide Final Assessment of Loss dtd.24/9/2011, assessed net loss of stock at Rs.33,05,644.00 (against claim of Rs.93,17,468.00), loss towards building at Rs.10,07,880.00 (against claim of Rs.40,16,959.00) and rejected the claim towards furniture and fixtures. Deductions were made towards salvage and net liability of loss assessed at Rs.45,36,755.00. Complainant has contested the settlement of the claim and is before us with the prayer to direct the Opposite Parties to:-