UMESH KUMAR Vs. ORIENTAL INSURANCE CO. LTD.

JUDGEMENT

(1.) Challenge in this Revision Petition under Sec. 21(b) of the Consumer Protection Act, 1986 (in short "the Act"), is to the order dated 02.09.2015 in Appeal No. 54 of 2014 passed by the Punjab State Consumer Disputes Redressal Commission (in short "the State Commission"). By the impugned order, the State Commission dismissed the Appeal preferred by the Complainant and concurred with the findings of the District Consumer Disputes Redressal Forum, Ropar (in short "the District Forum").

(2.) The facts material to the case are that the Complainant purchased one Ford Fiesta vehicle make of July, 2007 for a sum of Rs. 7,41,000.00, for which the insurance was renewed by the Opposite Party through their agent on 09.03.2011 for the year 2011-12 on an Insured Declared Value (I.D.V.) of Rs. 3,00,000.00. It was averred that I.D.V. for the purpose of commencement/renewal of the insurance of the vehicle and for total loss claim is to be determined.fixed on the basis of the manufacturer's listed selling price of the brand and model of the vehicle after adjustment of depreciation as per schedule reproduced hereunder:-

(3.) Exceeding 1 year but not 2 years...............20%