Court : Maharashtra State Consumer Disputes Redressal Commission SCDRC Mumbai
..... to indemnify the complainant in view of section 3 of trading members indemnity insurance policy, the complainant having failed to show that the complainant acted in good faith while dealing with stolen shares?yes(ii) what order?complaint is dismissed. reasons 5. section 3 of the policy reads as under :- section 3 : counterfeit securities indemnity ..... be clear from reading of section 3 that the insured is entitled to be indemnified only if the insured shows that he had acted in good faith in respect of securities which were stolen. in this case, there is no dispute, and it cannot be disputed, that the securities in question, in respect of which claim ..... the national stock exchange (nse) for indemnifying the insured for loss sustained in action in good faith upon written instructions or advices from the clients in respect of securities which are counterfeit, forged, fraudulently altered or lost or stolen. this insurance policy bearing no.120000/48/97/001 bearing certificate no.97/677 was issued .....
Tag this Judgment!Court : Maharashtra State Consumer Disputes Redressal Commission SCDRC Mumbai
..... the place of location in the insurance cover is shown as 874, krishi apartments, vikaspuri, new delhi but the police report lodged by the respondent shows that the part was stolen from mata chanan devi hospital. but we find that this contention is of no consequence firstly because the machine was inspected at mata chanan devi hospital before insurance and secondly ..... trade as also burglary, housebreaking in respect of a particular shop. complainant had set up a stall in a local fare where goods in the stall were gutted in the fire and the complainant lodged claim in respect of those goods. in this context, national commission held that the stock in trade kept at a different place, other than the insured premises .....
Tag this Judgment!Court : Maharashtra State Consumer Disputes Redressal Commission SCDRC Mumbai
..... the original documents. it is further revealed from the material placed on the record that the complainants claim to have lost all those original bills etc. since their bags were stolen during the transit. under those circumstances, since the claim made is quite reasonable and not exorbitant, the appellant should have acted upon the statement made by the complainants to reimburse .....
Tag this Judgment!Court : Maharashtra State Consumer Disputes Redressal Commission SCDRC Mumbai
..... worth rs.4,41,000/-complainant had reported to police that factory was closed from october-1997 to march-1998 and during this period many times some unknown thieves has stolen the stock material. so, admittedly, the factory of the complainant was in closed condition and material lying in the factory was not properly guarded by posting security guards at the ..... no.2 duty of disclosure. the surveyor mentioned in his survey report that he had called for books of account, stock record, gate passes, delivery challan, purchase and sales register, goods receipt and other relevant record by sending reminder letter on 28/3/1998, 8/5/1998, 28/8/1998, 13/10/1998 and 23/03/1999 and finally the surveyor .....
Tag this Judgment!Court : Maharashtra State Consumer Disputes Redressal Commission SCDRC Mumbai
..... providing insurance cover to the ornaments. it was noticed on 26/06/2007 that the shop premises were burgled and gold ornaments of rs.31,00,000/- were stolen away. immediately, fir was lodged in the concerned police station and information was given to the opponent insurance company about the incident. the concerned police station has closed ..... of insurance company to use the burglar proof safe has held as under :- further, it is to be stated that the insistence by the insurance company that the goods should be kept in a burglar proof safe, is apparently a vague condition. it is difficult to find out any safe which could be said to be burglar proof ..... period from 20/01/2007 to 19/01/2008. during the validity period of the said insurance policy, the insured premises were burgled and the gold ornaments were stolen away. fir was lodged by the complainant and the concerned police station closed the search as accused were not traceable stating that though complaint was true. surveyor appointed, .....
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