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16. Addressing the challenge to maintainability on account of subrogation, the Ld. Counsel for the Respondent No.1 has argued that upon execution of the letter of subrogation, the Complainant No.2 was legally entitled to recover the amount paid under the Policy by stepping into the shoes of Complainant No.1. Thus, the proceedings were fully maintainable. He has relied on "Economic Transport Organization v Charan Spg Mills(P) Ltd (2010) 4 SCC 114" clarifying that subrogation served as an equitable assignment enabling an Insurer to step into the shoes of the Insured for recovery purposes after settling a Claim -

"26. Subrogation, as an equitable assignment, is inherent, incidental and collateral to a contract of indemnity, which occurs automatically, when the insurer settles the claim under the policy, by reimbursing the entire loss suffered by the assured. It need not be evidenced by any writing. But where the insurer does not settle the claim of the assured fully, by reimbursing the entire loss, there will be no equitable assignment of the claim enabling the insurer to stand in the shoes of the assured, but only a right to recover from the assured, any amount remaining out of the compensation recovered by the assured from the wrongdoer, after the assured fully recovers his loss. To avoid any dispute with the assured as to the right of subrogation and extent of its rights, the insurers usually reduce the terms of subrogation into writing in the form of a letter of subrogation which enables and authorises the insurer to recover the amount settled and paid by the insurer, from the third-party wrongdoer as a subrogee-cum-attorney.