ORIENTAL INSURANCE CO. LTD. Vs. AGARWAL STORES

JUDGEMENT

(1.) This Revision Petition has been filed under Sec. 21(b) of the Consumer Protection Act, 1986 (the "Act") against impugned order dtd. 7/6/2016, passed by the Jharkhand State Consumer Disputes Redressal Commission, Ranchi ('State Commission') in FA No.54 of 2012, wherein the Appeal filed by the Complainant was allowed in part and granted lump sum of Rs.3.00 Lacs and modified the Order dtd. 20/3/2012, passed by the District Consumer Disputes Redressal Forum, Lohardaga ("District Forum") in CC No. 01/2010.

(2.) For convenience, the parties are referred to as stated in the original Complaint before District Forum. Oriental Insurance Co. Ltd. is referred to as OP-3 & 4 (Petitioner herein), Agarwal Stores through its Sole Proprietor is referred to as the Complainant (Respondent No.1 herein) and Gramin Bank through Branch Manager is denoted as OP-1 & 2 (Respondent No.2 herein) respectively.

(3.) Brief facts of the case, as per the Complainant, are that he operates a business under the name "Agarwal Stores" on College Road, Lohardaga, dealing in motor parts, electronics, and electrical goods. He availed a Cash Credit Limit loan of Rs.2,00,000.00 from OP-1 (the Bank) to support his business. Bank insured the shop through OP-3 (the Insurer). On the night of 15/16/9.2009, a fire broke out in the Complainant's shop, causing damage to stocks valued at approximately Rs.4,00,000..00 The fire was controlled with the help of neighbours and the fire brigade. He informed the Bank (OP-1) and the insurance company (OP-3). OP-3 appointed a surveyor to assess the damage and the surveyor visited the site on 18/9/2009, took photographs and prepared a list of the damaged goods. Despite the damages are established, OP- 3 and 4 rejected the claim. Being aggrieved, the complainant filed a consumer complaint before the District Forum seeking Rs.4,00,000.00 as compensation for financial loss and Rs.1,00,000.00 for interest on the loan and mental agony.