Supreme Court of India
M/s Oswal Plastic Industries v. Manager, Legal Deptt. N.A.I.C.O. Ltd
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1 Supreme Court bench has cited this judgment.
What the Court ordered
In view of the above and for the reasons stated above, the present appeal succeeds.
Judgment, page 6
From the headnote
Insurance – In case of damage of the plant and mach inery due to fire, whether the complainant entitled to reinstatement value or depreciated value under insurance policy – Appellant subsc ribed to a Fire & Perils policy – fire broke out and the surveyo r assessed the loss at Rs.29,17,500/- on reinstatement value and Rs.12,60, 000/ - on depreciated value – Insurance company despite the reports of the surveyor, repudiated the claim – State Commissio n relying on the surveyor report, awarded Rs.29,17,500/- with 9% in terest from the date of repudiation observing entitlement on reinstate ment
Authorities it was built on
Where later benches applied it
Of those, 1 mentioned
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