THE NEW INDIA ASSURANCE CO. LTD vs M/S INTERWEAVE FASHIONS (P) LTD

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 07.07.2025 Judgment delivered on: 18.07.2025 + CM(M) 2509/2024 THE NEW INDIA ASSURANCE CO. LTD .....Petitioner versus M/S INTERWEAVE FASHIONS (P) LTD .....Respondent Memo of Appearance For the Petitioner: Mr. J P N Shahi, Advocate. For the Respondent: Mr. Manoj Singh, Advocate. CORAM: HON'BLE MR. JUSTICE MANOJ JAIN JUDGMENT MANOJ JAIN, J 1. M/S Interweave Fashions (P) Ltd (respondent No.1 herein) had taken a Fire Insurance Policy from New India Assurance Co. Ltd. (hereinafter referred to as Insurance Company). 2. The policy covered its stocks, building, plant and machinery for the period from 16.05.2005 to 15.05.2006. The risk covered was of Rs. 92 lacs, which included insurance of stock as well. 3. Sum insured towards stock was of Rs. 60 lacs. 4. On 23.09.2005, when the abovesaid Insurance Policy was valid and subsisting, an incident of fire took place at the plant of respondent No.1, resulting in damage to their stocks, machinery and building. 5. According to M/S Interweave Fashions (P) Ltd (hereinafter referred to as complainant), the total loss was to the tune of Rs. 16,40,991/-. 6. The Insurance Company, in order to assess the loss and to investigate Signature Not Verified Digitally Signed CM(M) 2509/2024 Page 1 of 8 By:SONIA THAPLIYAL Signing Date:18.07.2025 18:28:20 the claim received from the complainant, appointed a Surveyor (M/s Atul Kapur and Company). 7. On the basis of report of such Surveyor, the Insurance Company remitted a sum of Rs. 2,20,339/- directly to Punjab National Bank, the banker of the complainant, in respect of the fire claim in question, as full and final settlement of said claim. 8. Feeling aggrieved, a complaint was filed by the complainant (CC No. 1133/2006) before learned D