ORIENTAL INSURANCE COMPANY LIMITED Vs. PANDA & CO

JUDGEMENT

(1.) ORIENTAL Insurance Company is the appellant. It has filed this appeal through its officers challenging the validity of the order of the Jajpur District Forum directing it to pay to the respondent a sum of Rs. 1,60,440/ - towards the loss of 1337 bags of cement with interest at the rate of 12 percent per annum with effect from 8.5.2000.

(2.) THE respondent filed the complaint alleging deficiency in insurance service. Its case is that it is a business concern at Jajpur road dealing in cement and iron rods. It insured its cement stock with the appellants for rupees ten lacs which was valid for the period from 19.3.1999 to 18.3.2000. During the super cyclone which hit the area on 29.10.1999 and 30.10.1999, the stock of cement worth about Rs. 1,80,000/ - got damaged. It immediately informed the appellant about the loss. Two Surveyors were deputed on behalf of the appellant to assess the loss and damage. After making necessary inquiry they submitted their reports. Inspite of several approach, the appellant did not settle the claim. The respondent finding no other way filed the complaint.

(3.) THE appellant in its written version denied the claim. Its plea is that the respondent had insured his shop and not the godown. As the stock in the godown was not insured, damage of stock if any in the godown would not entitle it with monetary benefits.