M/S. M.S. MANUFACTURING CO. Vs. NEW INDIA ASSURANCE COMPANY LTD.
LAWS(NCD)-2020-7-15
NCDRC
Decided on July 24,2020

M/S. M.S. Manufacturing Co. Appellant
VERSUS
NEW INDIA ASSURANCE COMPANY LTD. Respondents

JUDGEMENT

NARAIN,PRESIDING MEMBER, J. - (1.) This appeal has been filed by the appellant M/s.M.S. Manufacturing Co. against the order dated 14.5.2014 of the State Consumer Disputes Redressal Commission, Haryana, (in short the State Commission') passed in Complaint No.78/2013.
(2.) Brief facts of the case are that the complainant is a partnership firm in the name and style M/s M.S Manufacturing Company for manufacturing of corrugated boxes. The firm purchased Standard Fire and Special Perils Policy from the New India Insurance Co. Ltd (respondent/opposite parties) covering the period from 18th June 2012 to 17th June, 2013. The total insured amount was Rs.70.00 lacs (i.e. Rs.30.00 lacs for building-super structure, Rs.20.00 lacs for plant machinery and accessories and Rs.20.00 lacs for stock and stocks in process). In the insurance policy, there was Clause 4, i.e. reinstatement value clause. On 5.01.2013, at about 3.30 a.m. fire broke out in the premises of the company. The fire could be extinguished after about six hours. FIR was got registered in police station Rai. The insurance company was informed. Surveyor appointed by the insurance company visited the spot. The surveyor gave his report dated 15.06.2013 and assessed the gross loss to the tune of Rs.42,84,138/-. (Rs.15,68,243/- for the loss of plant and machinery, loss to the building/super structure as Rs.6,28,520/- and Rs.20,87,375/- for the loss caused to the stocks). However, the depreciation was deducted on the loss to the plant and machinery and building and after deducting that, the net loss assessed for plant and machinery was Rs.7,84,120.50 and for building Rs.4,89,647/-. It has been alleged by the complainant that the depreciation should not have been taken into consideration in view of Clause 4 of the insurance policy. Aggrieved, the complainant filed a complaint before the State Commission. The State Commission vide its final decision dated 14.05.2014 passed the following order:-" "Having considered the facts and circumstances of the case and the evidence available on the record, the complaint is partly allowed. The opposite parties are directed to pay Rs.15,79,730/- to the complainant as assessed by surveyor appointed by the opposite parties along with interest @9% per annum from the date of filing complaint till its realization."
(3.) Hence the present appeal.;


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