RAJDEEP LEASING AND FINANCE DELHI PVT LTD Vs. ASSTT GENERAL MANAGER NEW INDIA ASSURANCE CO LTD

JUDGEMENT

(1.) Briefly, the facts of the case are that the complainant is dealing in the hire purchase of motor vehicles in Delhi. It hired out a truck bearing registration No. DEL-2193 to Satyapal Wadhawan, respondent No.3 under a hire/purchase agreement dated 10.7.1986. At the time of entering into the hire purchase agreement the complainant company at the instance of respondent No.3 got the truck insured with the New India Assurance Company Ltd. , respondent No.2 and got the same renewed each year. It was renewed by respondent No.2 under Policy No.4502010251 for the period 28.4.87 to 27.4.88 A/c. Shri Satyapal Brothers and Co. with endorsement No.10 attached to the said Policy and under hire/ purchase agreement with the complainant for a sum of Rs.2,40,000/-. The premiums for getting the vehicle insured were paid on behalf of respondent No.3, by the complainant for each year and the Insurance Policy had been assigned in favour of the complainant.

(2.) The said vehicle was being plied by the respondent No.3, in terms of the agreement dated 10th July, 1986. On 29th September, 1987, it is alleged by the complainant, the vehicle was stolen near Uttam Nagar Bazar, where it was parked by the driver employed by respondent No.3. The driver of respondent No.3 lodged a FIR No.281/87 under Sec.379 IPC with P. S. Vikaspuri, and simultaneously the intimation regarding theft was given to respondent No.2. The police could not trace the vehicle. It gave progress report dated 15.12.87 and final report dated 26.5.88 to the effect that the vehicle was not traceable.

(3.) Respondent No.3 in terms of the Insurance Policy pledged a claim with respondent No.2. However, as the complainant was entitled to the insurance amount of Rs.2,40,000/ followed the claim. It is alleged that respondent No.2 mala fide repudiated its liability on the ground that the events did not establish theft of the vehicle, vide letter dated 12.6.89 written to the complainant. The complainant then sent a legal notice dated 28.11.89. In reply to that notice, the respondent No.2 again repudiated its liability. Consequently, this complaint has been filed by the complainant with a prayer that respondent No.1 and 2 be directed to pay the amount of Rs.2,40,000/ with interest @ 18% per annum from the date of lodging the claim, till the date of payment.