M/S. PEACOCK PLYWOOD PVT. LTD. vs THE ORIENTAL INSURANCE CO. LTD.

The Supreme Court addressed the interpretation of a marine insurance policy under the Institute Cargo Clause (C), specifically regarding coverage for non-delivery of goods. The Court held that the exclusion clauses in the policy, particularly those related to unseaworthiness and insolvency, must be strictly construed. The appeal was allowed, affirming the High Court's decision that the insurance company was liable for the loss of the insured logs during transit, as the exclusions did not apply in this case.