Supreme Court of India
Shree Ambica Medical Stores & Ors. v. The Surat People’s Co-operative Bank Limited & Ors.
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2 Supreme Court benches have cited this judgment.
What the Court ordered
For the above reasons, we are of the view that there i s no merit in the present appeal.
Judgment, page 15
From the headnote
Insurance Act, 1938 – s.64(VB) – Appellants hypothe cated goods with first respondent-bank under an agreement for cash cr edit facility – Appellants were obligated to insure the goods hypot hecated to the Bank – Bank, as a routine practice, obtained policies for all its borrowers and upon receipt of intimation, would remit the premium payable on behalf of the borrowers – Bank obtained first insurance policy for 1998-99 in sum of Rs.60 lakhs, from insu rer-third respondent, which covered specific location (“12/11 23-1124, Basement, Meghdoot Apartment, Surat”) of the borrow er where goods were
Authorities it was built on
Where later benches applied it
- 2025 Racing Promotions Private Limited v. Dr. Harish & Ors.
- 2021 Maharashtra State Electricity Distribution Company Limited v. Maharashtra Electricity Regulatory Commission & Ors.
Of those, 2 referred to
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