NATIONAL INSURANCE CO LTD Vs. SHRAWAN BHATI

JUDGEMENT

(1.) HEARD the learned Counsel for the petitioner. It is a case where respondent/complainant has insured his Toyota Qualis for a period starting from 19. 8. 2004 to 18. 8. 2005. The said vehicle was stolen on 19. 7. 2005.

(2.) LEARNED Counsel for the petitioner contended that the said vehicle was sold to Mr. Rajendra Prashad Gupta on 5. 6. 2005 for a consideration of Rs. 5,11,000. It is argued that at the time of theft of the vehicle respondent does not have insurable interest since the respondent has already sold the vehicle.

(3.) SECONDLY, that in the FIR, which was recorded at the time of theft, Mr. Rajendra Prashad Gupta had stated that prior to the theft he had purchased the vehicle from the respondent/complainant for consideration of Rs. 5,10,000.