METAL POWDER COMPANY LTD. vs ORIENTAL INSURANCE CO. LTD.

The Supreme Court addressed the appeal concerning the repudiation of an insurance claim under the Institute Cargo Clauses, specifically Clause 4.6, which excludes coverage for losses arising from the insolvency of the vessel's owners. The Court held that the insurer's reliance on this exclusion clause was unjustified as the loss was due to an insured peril, and the plaintiff was entitled to recover the insured amount of Rs. 2,65,000 along with interest. The High Court's decree reversing the trial court's decision was set aside, affirming the trial court's ruling in favor of the plaintiff.