Anusuya Ghosh, School of Law, KIIT
Facts of the case
For the period of 1 year 04. 08.2003 to 03.08.2004 the respondent obtained a standard fire and special peril policy from the appellant to cover its goods in godowns for the amount of 3crore which was subsequently increased to 6 crores. On 27.05.04 for a period of 2 months’ respondent requested to increase the amount by 6 crores therefore total it become 12 crores. Additional endorsement covered for 69 days only but the appellant said it if for a period of 60 days (69 days was misprinted). On 02.03.04 respondent claim on behalf of loss/damage to their stocks on account of heavy rains & floods. The net assessed loss was Rs.3,18,26,025/- said sum arrived was Rs.12 crores. Actual value of stock in the godown at risk was Rs.8,15,99,149 value of damaged goods was Rs.5,22,81,001/- and the recoverable salvage value was Rs.1,87,79,922/-.
