- (1.) This appeal is against the judgment and decree dated March 13, 2006, passed by the Learned Judge, 3rd Bench, City Civil Court at Calcutta in Money Suit No.83/2000, whereby the Learned Court decreed the suit, directing the defendant to pay Rs.4,13,400/- by account payee cheque in the name of the plaintiff within six months, failing which the amount of decree would carry interest at the rate of 7.5% per annum till realization.
(2.) Shorn of unnecessary details, the facts material for disposal of this appeal are that the plaintiff, being the respondent herein, is a trader dealing with iron and steel products who got himself insured against loss of money in transit. On or about March 19, 1997, the plaintiff submitted a proposal form for insurance and subsequent thereto the defendant, being the appellant herein, issued a Money Insurance Policy dated March 31, 1997 for a period of one year at a premium of Rs.7,311/-.
(3.) On January 14, 1998 the plaintiff entrusted one of his employees, namely, Soumen Seal to go to one of his suppliers, namely, M/S Ellenbarrie Industrial Gases Limited with cash of Rs.5 lacs for the purpose of purchasing certain items. The said employee went to the office of the said supplier, but as there was none to receive the cash, the said employee left the said office of the supplier but he did not come back with the money to the plaintiff's premises at 150B, Rabindra Sarani, Calcutta-700 007. The said employee misappropriated the entire amount.;