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M/S. New Bansal Generation vs New India Assurance Co. & Anr. on 16 January, 2026 cites

Oriental Insurance Co. Ltd vs Sony Cheriyan on 19 August, 1999

6. On the other hand, learned counsel for OPs contended that the present complaint is not maintainable and is liable to be dismissed at the threshold. This dispute does not fall within the ambit of a "consumer dispute" under the Consumer Protection Act, 1986, since the firm availed the insurance policy for commercial purposes, thereby ousting the jurisdiction of this fora and rendering the proceedings non est. Further, the Complainant, after due assessment by a duly appointed and licensed surveyor in terms of Section 64UM of the Insurance Act, 1938, accepted Rs.1,84,70,955 in full and final settlement of the claim on 07.03.2017. Having accepted the settlement, the Complainant is estopped from raising any further claim. The surveyor rightly assessed the loss strictly in accordance with the policy terms by correctly applying the average clause and under-insurance factors after determining that the value at risk for stocks, plant and machinery, and building exceeded the respective sums insured, and the respondent insurer, upon noticing that certain transformers lying in the open area for repairs were wrongly included in the stock loss, lawfully reassessed the claim on 22.02.2017 and paid the net admissible amount, leaving no subsisting liability. The assessment being based on technical expertise and policy conditions cannot be substituted by conjectures raised by the Complainant, and as held by the Hon'ble Supreme Court in Oriental Insurance Co. Ltd. v. Sony Cheriyan (1999) 6 SCC 451, the insurance contract must be strictly construed and the insured cannot claim anything beyond the terms of the policy. Therefore, in absence of any proven deficiency in service or illegality, the complaint deserves dismissal with costs.
Supreme Court of India Cites 8 - Cited by 220 - S S Ahmad - Full Document
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