NATIONAL CHLORIDES Vs. UNITED INDIA INSURANCE CO. LTD.

JUDGEMENT

(1.) Submissions of the learned Counsel for the complainant It is say of Complainant - M/s. National Chlorides that it is engaged in the manufacture of zinc chloride solution, a basic raw material used in the manufacture of dry cells which are being supplied mainly to M/s. Indo National Limited (Nippo Dry Cell Manufacturer). The Complainant took a Fire Policy for the period 9.6.1999 to 8.6.2000 for a sum of Rs. 60,50,000 covering Building, Plant and Machinery and stocks at the Factory situated at Godown No. 3, K.R. Sundaram Industrial Estate, Beach Road, Tiruvottiyur, Madras - 600 019. By collecting additional premium of Rs. 18,575, the United India Insurance Company Ltd. (hereinafter referred to as the Insurance Company) incorporated a special condition in the policy which reads as follows:

(2.) The Insurance Company appointed a local Surveyor, Mr. S. Dakshinamoorthy to survey and assess the loss. He visited the site of the damage and sought clarifications which were satisfactorily explained. Mr. Dakshinamoorthy also verified the complete stock register of the insured and tallied them with the insureds purchase invoices, dispatches and sales and found them to be correct. He submitted his report on 18.5.2000 after visiting the site on five different occasions. The Surveyor in his report, in very clear-cut terms, has stated the cause of damage in the following words:

(3.) The Surveyor, Mr. Dakshinamoorthy has assessed the loss at Rs. 19,23,397.