ORDER

Date of order:      19-05-2017

Upendra Jha,Member       

                   The  complaint has preferred this complaint to direct the Opposite-party- Magma General Insurance Company Limited for payment of  insurance amount Rs. 25,76,942/-(Rupees twenty five lacs, seventy six thousand and nine hundred forty two only)

2.                 Brief facts of this case is that the complainant had purchased a Ashok  Leyland Truck from Sri Dev Chandra Singh Motor Pvt. Ltd. Patna on financed by the Magma Finance Limited which was insured by the Opposite-party No.2-  Magma General Insurance Company Limited for Rs. 25,76,942/-. During the insurance period this vehicle was stolen on 29-03-2015 from the petrol pump. F/.I.R. was lodged. Police submitted final form which was accepted by the C.J.M. Aurangabad. The Insurance Company was informed and a claim was filed for payment of Insurance amount. When it was not settled a legal notice was given.  But not settled. Then, the complainant has filed this complaint with above mentioned relief.

3.                 Written notes of arguments, written statement with Insurance Policy and payment voucher has been filed by the Opposite-party- Insurance Company. The Opposite-party- financer has also filed written statement. Heard and perused the District Forum order.

4.                           The counsel for the appellants submits that there is an agreement for hire purchase I between the complainant and the finance Company y. The vehicle in question was purchased with the finance of the Opposite-party-Financer and it was insured by the Opposite-party- Insurance Company. During the insurance period, it was stolen. F.I.R. was lodged. Final form submitted by the Police and accepted by the C.J.M. But the claim was not settled by the Insurance Company. Without giving notice the Insurance Company has settled the claim and paid the amount to the financer. The entire insurance amount should had to be paid to the complainant, but it was settled with the Insurance Company. It is not legal. Hence, the amount of insurance be paid to the complainant.

5.                           The counsel for the Opposite-party- magma Finance Company submits that the financer has nothing to do with the payment of Insurance amount. The complainant has not prayed any relief from the Finance Company. So, Opposite-party one should be exempted in this case.

6.                           The counsel for the Magma Insurance Company submits that the Insurance Company initiated proceeding for settlement of claim and it was settled and paid. Rs. 25, 75,442/- deducting the policy excess of Rs. 1500/- to the O.P.-Financer. Discharge Voucher copy has also been annexed by the O.P.-2.  The complainant is not entitled for any relief as claimed in the complainant. The present complaint is fit to be dismissed.

7.                             Having considered the submissions of parties and the material brought on record, it appears that the complainant had purchased the vehicle on hire purchase agreement and the vehicle was insured by the Magma Insurance Company. During the insurance period, the vehicle was stolen. F.I.R. was lodged. Police submitted final form which was accepted by the C.J.M., Aurangabad. The claim was settled and paid to the Magma Finance Company for Rs. 25, 75,442/- on 09-03-2017. The vehicle in question was purchased on the finance by the Opposite-party- Magma Finance, who has been paid the amount of insurance. We do not find any deficiency in service on the part of the Magma Insurance Company. Hence, the complaint is dismissed.

       S.K.Sinha                         Renu Sinha                  Upendra Jha                                                                      

      President                           Member (F)                   Member (M)

           Anita