M/S MEHSANA URBAN CO-OPERATIVE BANK LTD. Vs. DIVISIONAL MANAGER UNITED INDIA INSURANCE COMPANY LTD. AND ANR.

JUDGEMENT

(1.) The complainant bank obtained a Bankers Indemnity policy from the opposite party to the extent of Rs.3,45,00,000/-. The said policy inter-alia covered cash in transit to the extent of Rs.2,00,00,000/-. One Mr. Bharat Patel working as a clerk with the complainant bank was instructed on 30.12.2008 to collect Rs.1.50, crores from IDBI Bank and Rs.2.20 crores from State Bank of India. The services of a gunman namely Omprakash Rajput, a driver namely Nandesh B. Zikkar and a peon namely Amol Chaudhary were provided to him, along with a taxi in which the cash was to be transported.

(2.) The case of the complainant is that after collecting Rs. 1.50 crores from IDBI Bank in two bags, the vehicle was locked from inside and the van reached SBI from where they collected Rs.20 crores in two bags and placed the same in the rear compartment of the vehicle. The doors of the vehicle were then locked from inside. From SBI, they went to the head office of the complainant. Leaving gunman inside the locked vehicle to look after the cash, Mr. Patel and a peon went inside the office along with a bags containing Rs.1.90 crores. There, the aforesaid officials had tea and light refreshment. They were instructed at the head office to deliver Rs.1.30 crores at Kamela Darwaja and Rs.50.00 lacks at Bhagal Branch of the bank. On reaching Kamela Darwaja when Mr. Patel opened the Dickey of the vehicle, the bag containing Rs.1.05 crore was found missing. The matter was reported by Mr. Patel to a cashier in the head office; who in turn informed his superior officers. The matter was reported to the police and an FIR was lodged. A Final Report was eventually filed in the said FIR, without prosecuting any person.

(3.) A complaint was then lodged by the complainant with the insurer for reimbursement of the loss suffered by it on account of the disappearance of the cash. The claim however, was rejected on the following grounds: