COMPLETE INSULATIONS vs NEW INDIA ASSURANCE COMPANY

The Supreme Court addressed the issue of whether the appellant, who had transferred ownership of a vehicle but did not have the insurance policy transferred, was entitled to indemnification under the insurance policy. The Court interpreted Section 157 of the Motor Vehicle Act, 1988, clarifying that while the certificate of insurance is deemed transferred for third-party risks, it does not extend to cover damages to the vehicle itself. Consequently, the Court upheld the National Consumer Disputes Redressal Commission's decision that denied the appellant's claim for indemnification due to lack of insurable interest in the vehicle at the time of the accident.