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Showing contexts for: constructive loss in Sumit Kumar Saha vs Reliance General Insurance Company ... on 30 January, 2019Matching Fragments
“GROSS LOSS Both types of claim settlement possibilities viz. in Partial Loss and Constructive Total Loss basis were explored. Finally, it was established that PL i.e. repairing of the whole Civil Appeal No1299./2019 @ SLP(C)No.27695/2018 Sumit Kumar Saha vs. Reliance General Insurance Co. Ltd.
excavator will involve much higher than its insured value. Hence, we have considered it as case of Constructive Total Loss.
Considering the above, the Gross Loss comes around Rs.5,100,000.00, which is the present new replacement cost of same type and capacity of excavator.