UNITED INDIA INSURANCE CO LTD Vs. SHOWKAT AHMAD BANDAY

JUDGEMENT

(1.) THIS appeal is directed against the order dated September 07, 1999 of Jammu and Kashmir State Consumers Protection Commission, Srinagar, (for short the Commission hereafter) in Consumer Complaint No. 57/99, whereunder, complaint has been allowed and the opposite party, respondent United India Insurance Co. directed to pay an amount of Rs. 3.20 Lacs with 12% interest on this sum from 01 -03 -1999.

(2.) THE claimant purchased a Maruti -Zen -VX for Rs. 3,42,235/ -, after availing loan from Jammu and Kashmir Bank. While the vehicle was under subsisting Insurance cover with assured sum of Rs. 3.20 Lacs, it was stolen in January, 1999 within 28 days of its purchase. On failure of Opposite Party to pay the amount, petitioner filed complaint before the Commission. The Commission, after examining the case and documents placed before it found that the vehicle had been insured for Rs. 3.20 Lacs only and not on its full purchase value. The vehicle had been purchased just 28 days earlier to the date of theft. The Commission in the totality of facts and circumstances of the case, allowed Rs. 3.20. lacs as insurance claim.

(3.) THE learned counsel for Appellant, Mr. Manzoor Ali, submits that the Appellant acknowledges and admits subsistence of the Insurance policy regarding the vehicle in the sum of Rs. 3.20 lacs on the material date, when vehicle was stolen. He however, submits that the Surveyor after allowing depreciation on purchase value opined sufferance of loss by complainant in the sum of Rs. 2.75 lacs only and the Commission should have awarded only this much of amount towards pleaded claim.