ORIENTAL INSURANCE CO LTD Vs. SHAKARBHAI RAMDAS MARFATIA

JUDGEMENT

(1.) THIS appeal is filed by the Oriental Insurance Company Ltd. against the order dated 31.5.93 passed by the Consumer Disputes Redressal Commission, Gujarat by which the Insurance Company was directed to pay Rs. 2,63,000/ - as compensation and/or damages to the complainant with costs of Rs. 2,000/ -.

(2.) THE facts of this case briefly summarised are that the complainant purchased a truck in the year 1985 and insured it with the Insurance Company for the period commencing from March 25,1989 to March 24,1990 and paid full amount of premium for the estimated value of Rs.

(3.) AFTER considering the material placed on record by the parties, the State Commission came to the finding that the value of the truck at the relevant time was Rs. 1,75,000 - as assessed by the Surveyor. As a consequence, the State Commission directed that the Insurance Company should pay Rs. 1,75,000/ - plus interest @ 12% as claimed by the claimant which came to be Rs. 63,000/ - and besides that Rs. 25,000/ - also be paid on account of change of tyres and spare parts etc. In all, the complainant was entitled to Rs. 2,63,000/ -. The State Commission further directed that the Insurance Company should pay the aforesaid amount of Rs. 2,63,000/ - within a period of three weeks from the date of receipt of the order, failing which, the Insurance Company should pay interest @ 18% on that amount till realisation. Aggrieved by the order of the State Commission, the Insurance Company preferred this appeal.