AMBIKA SOLVEX LIMITED Vs. REGIONAL MANAGER, NEW INDIA ASSURANCE CO LTD & ANR ; CHAIRMAN AND MANAGING DIRECTOR, NEW INDIA ASSURANCE COMPANY LTD

JUDGEMENT

(1.) The complainant obtained a Fire Floater Insurance Policy from the OP namely The New India Assurance Company Limited to the extent of Rs.60 Crores for the period from 29.12013 to 28.12014. The said insurance policy inter-alia covered the stock of husk used for oil extraction. The locations covered by the policy included the plant of the complainant in New Industrial Area, Mhow, Neemuch Colony, Jaora (District Ratlam). The case of the complainant is that in an incident of fire which happened on 30.04.14, the stock of husk kept in the area covered under the policy got destroyed, causing huge loss to the complainant. A claim was lodged with the insurer for re-imbursement in terms of the insurance policy. A surveyor was appointed to assess the loss. The surveyor assessed the loss at Rs.99, 46, 595/-. The claim was however, repudiated by the insurer vide repudiation letter dated 303.2015 which to the extent, it is relevant, reads as under:

(2.) Being aggrieved from the rejection of the claim, the complainant is before this Commission.

(3.) The complaint has been resisted by the insurer primarily on the ground that the place where the husk was stored, was not covered under the insurance policy issued by it.