M/S.MODERN INSULATORS LTD vs THE ORIENTAL INSURANCE CO. LTD.

The Supreme Court upheld the principle of utmost good faith in insurance contracts, emphasizing that both parties must disclose all relevant facts. The Court found that the exclusion clause regarding second-hand property was not communicated to the appellant, thus the insurance company was liable for the claim. The appeal against the National Consumer Disputes Redressal Commission's order was dismissed, affirming the State Commission's decision to indemnify the appellant for the assessed loss under the insurance policy.