ORIENTAL INSURANCE COMPANY LIMITED Vs. SHAHEENKHAN MUBASSIR ALAM KHAN

JUDGEMENT

(1.) THIS appeal filed by the Insurance Company is directed against the order dated 23.7.2002 passed by the District Consumer Forum, Aurangabad.

(2.) RESPONDENT /org. complainant had purchased a vehicle on 21.7.1997 by obtaining a loan worth of Rs. 2,85,000 from Bombay Mercantile Bank, CIDCO. Said vehicle was insured with present appellant. The said vehicle was stolen from Talegaon Dubhade, Pune on 16.3.1999. FIR was also lodged. The Investigating Officer failed to trace out the stolen vehicle, nor arrested the thief. The owner of the vehicle submitted a claim to the Insurance Company. Insurance Company offered Rs. 1,49,500 to the owner of the vehicle as full and final settlement of the claim. The said amount was accepted by the owner of the vehicle under protest.

(3.) AFTER lapse of few days, complainant filed consumer complaint No. 2/2001 before the District Consumer Forum, Aurangabad. The said complaint was resisted by the Insurance Company. After perusal of the entire record and after having heard the rival submissions advanced at the Bar, District Consumer Forum partly allowed the complaint and directed the Insurance Company to pay a sum of Rs. 1,20,500 to the owner of the vehicle together with interest @ 12% p.a.