Supreme Court of India
Oriental Insurance Company Ltd. v. M/s Ozma Shipping Company & Another
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
Before parting with this case we would like to observe that the insurance companies in genuine and bona fide claims of the insured should not adopt the attitude of avoiding B payments on one pretext or the other.
Judgment, page 7
From the headnote
Marine Insurance Act, 1963: ss.29, 69 - Entire vessel with cargo insured for a sum, after due valuation by surveyor 8 of insurance company - Premium demanded paid by insured - Vessel sank with the cargo - Liability of insurance company - Held: Insurance company has to pay entire insured sum - Attitude of insurance company of avoiding bona fide claim needs to be curbed - Insurance. Respondent no.1 was the owner of a sailing vessel. The surveyor appointed 6y appellant-Insurance Company inspected the vessel and certified that market value of vessel was Rs.21.50 lacs. The premium amount was
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