THE NEW INDIA ASSURANCE CO. LTD. vs M/S. PROTECTION MANUFACTURERS PVT.LTD.

The Supreme Court, in a statutory appeal under Section 23 of the Consumer Protection Act, 1986, upheld the National Consumer Disputes Redressal Commission's order directing the Insurance Company to pay Rs.2,26,36,179/- to the Respondent for losses due to a factory fire. The Court affirmed that the insurance policy was valid at the time of the incident and that the Respondent was entitled to the claimed amount with interest from July 1, 2000. The judgment clarified the obligations of insurers in settling claims under fire insurance policies.