Case No. 303/2005   

IN THE MATTER OF

Surendra Singh S/o Sri Vedpal Singh and Smt. Bhudevi W/o Sri Vedpal  Singh R/o Village Sikandarpur PO Pilkhana Tehsil Koil , Aligarh

                             (Through: Advocate Mahendra Kumar Baghel)

                                           V/s

Division Manager The New India Insurance Co. Ltd. Centre Point Chauraha, Aligarh

(Through: Advocate Atul Kumar)

CORAM

 Present:

1. Shri Hasnain Qureshi, President
2. Shri Alok Upadhyaya, Member

PRONOUNCED by Shri Hasnain Qureshi, President

JUDGMENT

1. The present complaint has been filed by the complainant before this commission for  the following reliefs-

1. The Op be directed to pay the outstanding assured sum  Rs. 41500/ with interest at the rate 18% per annum.
2. Compensation Rs.10000/ for litigation expenses and mental agony.

2. Complainant stated that he is the registered owner of a mini truck no. UP 81 F 9464 with the financial assistant of the Gramin Bank and was insured with OP.On 13.5.2003 the truck was stolen within the area of the police station Sikandra Rao. FIR was loudged and final report was submitted after investigation. The price of the vehicle was Rs.300000/ during the period of insurance   but the op accepted claim for Rs.238500/ .
3.  OP has stated in WS that the complainants have no rights to file the complaint in view of full and final satisfaction of the claim and also in presence of the arbitration clause in the policy.
4.  Complainant has filed his affidavit and papers in support of his pleadings. And Op has also filed his affidavit and papers in support of his pleadings.
5. We have perused the material available on record and heard the parties counsel.
6. The first question of consideration before us is whether the complainant is entitled to any relief?  
7. It is evident that the op proceeded to settle the claim at Rs.238500/ without   adopting the arbitration proceedings and now the op is estopped from raising the plea arbitration clause in the policy for the outstanding amount of the claim. Complainant has filed insurance cover note in which the insured’s estimated value Rs.300000/ has been mentioned. OP has not stated as to why the assured sum Rs.300000/ was not paid and it has not been make clear by the op as to how the amount Rs.238500/ was calculated. Thus the complainant was entitled for entire assured sum Rs. 300000/ and now he is entitled for outstanding amount Rs.41500/ with pendent lite and future interest 9% per annum.    
8. The question formulated above is decided in favour of  the complainant.
9. We hereby direct the Op to pay outstanding amount Rs.41500/ with pendent lite and future interest 9% per annum and cost of the case Rs.10000/.
10. Op shall comply with the direction within 45 days failing which OP shall be prosecuted for non-compliance in accordance with section 72 of the Act for awarding punishment against him.
11. A copy of this judgment be provided to all the parties as per rule as mandated by Consumer Protection Act, 2019. The judgment be uploaded forthwith on the website of the commission for the perusal of the parties.
12. File be consigned to record room along with a copy of this judgment.