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Supreme Court Allows Insurer's Appeal in Insurance Claim Dispute Over Depreciation Rate for Fire-Damaged Machinery. Court Holds That Insured's Failure to Reinstate Damaged Property Within Extended Time Renders Reinstatement Value Clause Inoperative, Entitling Only Market Value on Depreciation Basis.

The dispute arose from a fire accident on 12.12.1998 that destroyed the '20 Hi Cold Rolling Mill' of the insured, M/s Bhushan Steel and Strips Ltd (la...

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High Court of Karnataka Allows Claimant's Appeal for Enhanced Compensation and Owner's Appeal Against Liability in Motor Accident Case — Negligence of Driver Proved, Owner Liable for Compensation.

The case involves two appeals arising from a common judgment and award dated 27.12.2010 passed by the Motor Accidents Claims Tribunal & Fast Track Cou...

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Bombay High Court Allows Section 11 Application for Appointment of Arbitrator in Insurance Dispute Despite Discharge Voucher. Dispute as to Quantum Under Fire Insurance Policy Referred to Arbitration Under Clause 13 of Standard Fire and Special Perils Policy.

The applicant, MIRC Electronics Ltd., filed an application under Section 11 of the Arbitration and Conciliation Act, 1996, seeking appointment of a so...

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High Court of Judicature at Bombay Upholds Arbitral Award in Favor of Oil Corporation in Kerosene Supply Contract Dispute. Arbitrator Had Rejected Limitation Defense Under Contractual Clause and Held Clause Not Void Under Section 28 of Indian Contract Act.

The matter arose from an arbitration petition under Section 34 of the Arbitration and Conciliation Act, 1996, filed by the original respondent in the ...

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High Court of Karnataka Enhances Compensation in Motor Accident Claim and Upholds Insurance Company's Liability. Claimants awarded increased compensation with 6% interest per annum from date of petition.

The case involves two appeals arising from the same judgment and award dated 01.08.2006 passed by the Motor Accident Claims Tribunal, Muddebihal, in M...

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High Court of Karnataka Enhances Compensation in Motor Accident Claim and Upholds Insurance Company's Liability. Claimants awarded increased compensation with 6% interest; insurer's appeal against liability dismissed.

The judgment pertains to two cross-appeals arising from the same accident claim. The claimants, Laxmibai and her children, filed MFA 12587/2007 seekin...

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Bombay High Court Dismisses Appeal in Insurance Claim Dispute — Lockout Not Covered Under Riot and Strike Policy. Consequential loss claim fails as lockout is not a peril insured under the fire and riot/strike extension policies.

The appellant, M/s. Century Textiles & Industries Ltd., a public limited company, filed a suit against four insurance companies (Oriental Fire & Gener...

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Bombay High Court Allows Insurance Claim for Goods Destroyed by Fire During Customs Delay — Insurer Liable Despite Policy Issued After Goods Were in Port. The court held that the plaintiff had an insurable interest and the policy covered the loss by fire, rejecting the insurer's defense of no risk.

The plaintiff, M/s. Hasmukhrai Chandrakant, filed a suit against The Oriental Fire and General Insurance Co. Ltd. for recovery of Rs.18,70,322.42 with...