KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION

VAZHUTHACAD, THIRUVANANTHAPURAM

A.126/2002

JUDGMENT DATED: 24.7.10

PRESENT

JUSTICE SRI.K.R.UDAYABHANU                   : PRESIDENT

SRI.S.CHANDRAMOHAN NAIR             : MEMBER

National Insurance Company Ltd.,           : APPELLANT

Divisional Office-II,

PB.No.811,

Noor Complex, Mavoor Road,

Kozhikode.

(By Adv.Rajan.P.Kaliyath)

          Vs.

Sri.M.Dinesh Kumar,                                 : RESPONDENT

Moochingal House,

Koollalithara,

Post Karuvanthuruthy,

Kozhikode.

(By Adv.M.R.Rajendran Nair)

JUDGMENT

JUSTICE SRI.K.R.UDAYABHANU         : PRESIDENT

          The appellant is the opposite party/insurance company in CC.303/01 in the file of CDRF,Kozhikode.  The appellant is under orders to pay a sum of Rs.30,000/- with interest at 12% from the date of complaint.

          2. The case of the complainant is that  the Mahindra jeep owned by him covered by the policy was stolen.  He was paid only Rs.2,00,000/-.  According to him the full insured value of Rs.3,00,500/- ought to have been paid. The opposite parties have disputed the claim contending that the amount assessed by the surveyor is Rs.2,00,000/-.

          3. The evidence adduced consisted of Ext.P1 to P5 and R1 to R5.

          4. We find that the survey report only mentions that the surveyor conducted an enquiry in the local market.  According to him the market value of the 1/98 Model  Mahindra CL 500 MD Jeep in good condition prevalid as on 16.5.2000 ie the date  to theft was  Rs.2,00,000/-.  The Forum on the other hand has deducted 10% from the insurance value of Rs.3,00,350/- in the 1^st year and 15% in the 2^nd year and arrived at         Rs.2,30,000/-.  It is to be noted that Forum applied depreciation not on the purchase value  of Rs.3,22,300/- but on the insured declared value of Rs.3,00,350/-.  We find that the reasoning of the  Forum appears to be just rather than the one sentence assessment of the surveyor. Hence we find there      no scope for interference in the order of the Forum.  All the same the interest awarded at 12% appears some what excessive.   Hence interest is reduced to 7% from the date of complaint ie, 7.6.2000.  The amount is to be paid within 3 months from the date of receipt of the copy of this order failing which the complainant would be entitled 12% interest from today.  In the result the appeal is allowed in part as above.

          Office will forward the copy of the order to the Forum urgently.

          JUSTICE SRI.K.R.UDAYABHANU                   : PRESIDENT

          SRI.S.CHANDRAMOHAN NAIR             : MEMBER

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