ORIENTAL INSURANCE COMPANY LTD. vs NATIONAL BULK HANDLING CORPORATION PVT. LTD.

The Supreme Court upheld the order of the National Consumer Disputes Redressal Commission, directing Oriental Insurance Co. Ltd. to pay Rs.3,46,87,113 to National Bulk Handling Corporation Pvt. Ltd. under a Fidelity Guarantee Insurance Policy. The court confirmed that the insurance policy covered the pledged commodities stored by the respondent, and the claim was valid as per the terms of the policy. The court also mandated interest on the amount from six months after the claim was lodged until payment was made.