NEW INDIA ASSURANCE COMPANY LIMITED Vs. DATTATRAYA SHANKAR BUVA
MAHARASHTRA STATE CONSUMER DISPUTES REDRESSAL COMMISSION
NEW INDIA ASSURANCE COMPANY LIMITED
Dattatraya Shankar Buva
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(1.) THIS is an appeal filed by the New India Assurance Co. Ltd. against the judgment passed by the District Consumer Forum, Kolhapur in Consumer Complaint No. 506/2000 dated 27.9.2005. While allowing the complaint, the appellant/Insurance Company has been directed to pay to the complainant Rs. 85,000 with interest @ 9% p.a. from 23.6.2000 and also to pay cost of Rs. 1,000 to the complainants.
(2.) SHORTLY the facts to the extent material may be stated as under:
(3.) THE complainant had filed consumer complaint alleging that complainant No. 1 had taken vehicle loan from the Youth Development Co -op. Bank, Kolhapur for purchase of Tractor No. MH -09 D -7465. The complainant No. 1 wanted to sell the tractor to complainant No. 2. O.P. No. 2/Bank was informed about the sale of tractor. O.P. No. 2/Bank took signature of complainant No. 2 on certain papers and permitted the complainant No. 1 to sell the tractor to the complainant No. 2. On the R.C. Book, name of complainant No. 2 was recorded. The remaining loan amount was agreed to be paid by complainant No. 2. The O.P. No. 2 had taken insurance policy for the said tractor from O.P. No. 1/Insurance Company. The Policy was for the period 23.4.1999 to 22.4.2000. On 9.10.1999 the tractor met with an accident. The Bank had taken policy in the name of complainant No. 1. After the accident, the complainant No. 2 lodged the insurance claim with O.P. No. 1/Company. But, it was repudiated by O.P. No. 1 and therefore the complaint was filed jointly by Mr. Dattatraya Shanker Buva, previous owner of the vehicle and Mr. Laxman Yashwant Patil, subsequent purchaser of the vehicle to get the insurance claim from the Insurance Company. They claimed amount of Rs. 1,66,525 for the damage caused to the vehicle in the accident.
O.P. No. 1 filed written statement and pleaded that as per request of Youth Development Co -op. Bank, Kolhapur they had issued policy in favour of complainant No. 1. The complainant No. 1 after selling the vehicle to complainant No. 2 had not informed the Insurance Company about the sale of vehicle and transfer of ownership from complainant No. 1 to complainant No. 2. So, the complainant No. 1 had no insurable interest in the policy because he had already transferred the vehicle in the name of complainant No 2 and on that ground itself the claim preferred by complainants was repudiated.;
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