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Showing contexts for: constructive loss in Tirupati Vessel Private Ltd vs Kreuz Subsea Pte. Ltd. And Anr on 23 June, 2021Matching Fragments
3. According to applicant defendant/vessel is hit by Cyclone Tauktae on 17/05/2021 and is severely damaged. In paragraph no.13 of the application it is stated that defendant/vessel is being salvaged by applicant but the same is no longer in a sea worthy condition and is a total loss.
Mr. Narichania states that applicant may also, if advised, decide to declare the vessel as a constructive total loss. Mr. Thakker who is appearing with Mr. Narichania states that applicant has paid all the premium and call money for defendant/vessel. Statement accepted.