Case Law Details
National Insurance Company Ltd. vs. M/s. Hareshwar Enterprises (P) Ltd. & Ors. (Supreme Court of India)
HELD THAT: In settlement of insurance claims the surveyors report is not final and conclusive.
BRIEF FACTS:
1. The respondent No.1 was engaged in the business of manufacture of polyethylene, plastic films and other similar packaging materials. The respondent No.2 had advanced loan to the respondent No.1 against security of its building, plant and machinery. The respondent No.3 had also advanced money to the respondent No.1 for procurement of stock in trade, which was accordingly hypothecated to them.
2. In order to cover the risk of fire, flood and earthquake to the factory building and also the plant and machinery, the respondent No.1 secured insurance policies from the appellant.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Author Bio
