M/S. Rahee Industries Ltd vs Export Credit Guarantee ...

The Supreme Court held that under Clause 16 of the Specific Shipments (Political Risks) Policy, the insurer is entitled to a share of any increased recovery made by the insured after indemnification. The Court affirmed the Division Bench's ruling that the insurer is entitled to 90% of the increased recovery, as the policy clearly stipulates the insurer's rights in such scenarios. The appeal by the Exporter was dismissed, upholding the insurer's claim to the increased amount received post-embargo.