NATIONAL INSURANCE CO. LTD. vs M/S. ISHAR DAS MADAN LAL

The Supreme Court addressed the applicability of an exclusion clause in an insurance policy under the Jammu & Kashmir Consumers Protection Act, 1987. The Court held that the theft of jewellery by a customer did not constitute 'entrustment' as defined in the policy, thus the insurer's exclusion clause was not applicable. The Court affirmed the High Court's decision that the insurer was liable for the theft claim, emphasizing that the insurer must clearly define the risks covered in the policy.