M/S. Harsolia Motors vs M/S. National Insurance Co. Ltd on 3 December, 2004
8. The next point is whether this complaint is maintainable
by a private limited company through its Director on the
averments that machinery and plant were installed for
earning livelihood of its Director. It has been settled
principle of law, as laid down by _ the
National Commission in "Harsoliaa Motors Vs. National
Insurance Co. Limited" 2005(1)CLT-97 that a person who
takes insurance policy to cover the envisaged risk does
not take the policy for commercial purpose. Policy is only
for indemnification of actual loss. It is not to generate
profits. On the basis .of law laid down by the National
'Commission on this point that loss under insurance policy
Page 12 of 14
is for the purpose of indemnification only and hence the
complainant is consumer and this complaint is held to be
competent and legally maintainable.