This petition was moved at Guwahati before the President on 27.11.93 and it was directed that notice may be issued. The matter came up before the Commission on 5.3.94 and it was agreed by Mr.A.K.Das, learned counsel for the petitioner and Mr.M.Bhuyan, learned counsel for the Insurance Company that the matter may be settled amicably. Therefore time was granted. Finally the matter came up before the President on 17.8.94 and on that day Mr.Bhuyan, learned counsel for the Insurance Company stated on instructions that the Insurance Company is agreeable to settle the case on Rs.3,80,000/-. However, Mr.Das learned counsel for the Petitioner submitted that the claimant-petitioner is agreeable to accept the above amount for full and final settlement of the claim provided interest shall also be awarded. Accordingly it was decided that the matter may be placed before the Commission for final disposal. It has come up today before the Commission.

 

2. Briefly stated, the facts are as follows:

 

The complainant had a shop house at Tura bazaar and he was dealing with cloth. A fire took place on 19.5.89 and as the shop was covered by Insurance under the policy issued by the opposite party Insurance Company, a claim amounting to Rs.5,28,324/-.(Rupees Five Lacks Twenty Eight Thousand Three Hundred and Twenty Four) only was lodged. A survey was also conducted as appointed by the opposite party Insurance Company. Report was also submitted. In the present case the opposite party has not filed any counter in view of the fact that there was a talk of compromise.

 

3. As the parties are agreed to accept Rs.3,80,000/- for full and final settlement of the claim, only question that survives is regarding awarding of compensation, interest etc.

 

4. As the occurrence took place in May, 1989 and only on 17.8.94 the Insurance Company agreed to settle the amount at Rs.3,80,000/-, it would show that there was deficiency on the part of the Insurance Company. Considering all the aspects of the matter we of the opinion that by way of compensation which will include interest and cost, a sum of Rs.20,000/- is directed to be paid by the Opposite party Insurance Company which would meet the ends of justice.

 

5. Accordingly, the present petition is disposed of with a direction that the Opposite party Insurance Company shall pay a sum of Rs.3,80,000/- for settlement of the claim plus a further sum of Rs.20,000/- towards cost, compensation, interest etc. The entire amount shall be paid within a period of three months from today and if not paid, it shall bear the interest at 15% per annum.