subject to deduction of Rs.500/- as compulsory excess clause, thereby
4
the net amount payable is Rs.3,23,616/- only. The affidavit also
after making various
deductions of parts and labour, salvage, compulsory excess, concluded
that the net amount payable was Rs.10,80,175/-.
18. The insured
towards damage to the building. After compulsory deduction, the net loss was
calculated at Rs.3,64,222/-, which goes to show that the Insurance
surveyor's report,
which was the net amount and after deducting compulsory excess
K.S.P A-18-116 Page 3 of 11
(single ... net amount was
Rs. 2,29,260/- and the total payable amount would be Rs.
2,17,495/- after deduction of compulsory excess (single
TOTAL (A+B)
82937.50
25442.50
D)
LESS COMPULSORY
DEDUCTIBLE
1000.00
E)
NET ASSESSED
LOSS
2442.50
F)
LESS SALVAGE
VALUE
472.50
G)
NET PAYABLE
AMOUNT
stock
and building and also deducting some sum from compulsory excess, assessed the
net loss of Rs.2,20,750/-. The OP
alleged that
after deducting the depreciation, salvage value and
compulsory excess clause, the surveyor had assessed the net adjusted
loss value as Rs. 47,257/-. The Appellant ... report
dated 09.03.2009 observed that the net adjusted loss value after
deducting the depreciation, salvage value and compulsory excess
clause in accordance with terms
adjustment in final settlement of claim.
7. COMPULSORY EXCESS
The insured shall bear a compulsory excess of Rs.10,000/- for any one
accident under ... liability shall be for the claim in exces of
such compulsory excess.
8. PREMIUM
Net Rs. 40,00,000/-
Service Tax (Incl. Edu. Cess
building and F/F/F Rs. 324795.15
Less compulsory
excess Rs.10,000.00
Insurers
liability assessed (Net payable) Rs.314795.15
It appears from record
deducted as salvage value. Net assessed amount is determined
Rs.14,91,500/-. In the insurance policy, the compulsory excess was fixed
