Matching Fragments
(c) Cost of the proceedings.
and other legal expenses Rs. 1,00,000.00
(d) (Plus future interest at
the rate of 12% per
annum from 18.8.2005
till realization of the
amount of the decree)
(e) Grant any other reliefs as
this Hon'ble Commission
may deem fit and proper
Complaint hasbeen filed, inter alia, alleging that M/s. Ibrahim Ahmed Taj & Co.op No. 2, now represented by Akil Ibrahim Taj was engaged in purchase and sale of dry fishes at Mahad, Raigad District, Maharashtra. O.P. No. 2 had three godown Nos. 2694B & A, 2691-C and 2703 -B where dry fishes were used to be stored. O.P. No. 2 took three policies also covering the risk against flood of Rs. 30 lakhs, 10 lakhs and 15 lakhs. Currency of these policies was from 25.3.1987 to 25.3.1988. It was stated that in the early hours of 19.8.1987 because of heavy flood and rain the water level rose upto 3-4 ft. high above the ground level of said three godowns. Dry fishes being sensitive to water started stinking. Under the direction and supervision of the officials of Mahad Municipal Council, dry fishes stored in three godowns were removed in trucks and thrown into river Savitri. On being intimated of the damage the opposite party No. 1 Insurance Company appointed a Surveyor on 7.9.1987 who assessed loss at Rs. 52 lakhs. However, O.P. No. 1 repudiated the claim made by O.P. No. 2 on 2.5.1990. It was further alleged that for carrying on business the O.P. No. 2 had been granted various credit facilities amounting to Rs. 54 lakh by Sangli Bank Ltd. through its Mahad Branch. Bank instituted various proceedings for recovery of loan amount against O.P. No. 2. Since O.P. No. 2 was not in a position to repay the loan amount, it approached the complainant for repayment of loan amount to Sangli Bank Ltd. Under aTripartite agreement dated 9.6.1992 between Sangli Bank Ltd., complainant and O.P. No. 2 the complainant paid an amount of Rs. 43 lakh to Sangli Bank Ltd. Under the said agreement actionable claims were also transferred in favour of complainant by O.P. No. 2. It was also alleged that Ibrahim Taj based on three insurance policies filed O.P. No. 1992 1992 in this Commission. Though Ibrahim Taj during his life time kept the complainant informed about the development in said complaint case but after his death in November, 1999 his legal representatives did not take much interest. This Commission disposed of the complaint with direction to O.P. No. 1 -Insurance Company to pay compensation of Rs. 13 lakhs in full and final settlement by the order dated 8.9.2000. Appeal filed against that order was dismissed by the Supreme Court. On ground of legal representatives of Ibrahim Ahmad Taj not pursuing the matter before this Commission and the Supreme Court in collusion with O.P. No. 1 Insurance Company this complaint has been filed claiming the aforementioned reliefs.
