Supreme Court of India
M/s New India Assurance Company Ltd. v. M/s Hemkund Duplex and Board Pvt. Ltd.
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What the Court ordered
Civil Appeal No. 7221 of 2025 is, accordingly, allowed setting aside the order dated 19.11.2024 passed by the National Consumer Dispute Redressal Commission, New Delhi, in Consumer Complaint No. 66 of 2011. In consequence, Civil Appeal No. 11416 of 2025 filed by the respondent shall stand dismissed. Registry shall return to the appellant the suitor’s fund amount and the sum of ₹50 lakh deposited by it, along with the interest accrued thereon, under proper acknowledgement and as per due procedure. In the circumstances, parties shall bear their own costs.
Judgment, 35
In brief
The respondent took over a sick paper board unit in 2005 and insured its stock for ₹13 crore and its buildings, plant and machinery for ₹14 crore with the appellant insurer under two fire policies. On 07.05.2009 a fire broke out in the waste paper yard/tin shed, and the respondent lodged a claim which progressively fell from about ₹15 crore (reported to the media) to ₹10 crore, then ₹8.45 crore and finally ₹7.31 crore.…
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