Supreme Court · 2020 INSC 175 · Decided 12 February 2020
Oriental Insurance CO. LTD. v. National Bulk Handling Corporation PVT. LTD.
- Court
- Supreme Court of India
- Citation
- 2020 INSC 175 · [2020] 3 S.C.R. 757
- Case number
- CIVIL APPEAL No. 10409/2016
- Decided
- 12 February 2020
- Bench
- MOHAN M. SHANTANAGOUDAR, R. SUBHASH REDDY (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Consumer Protection Act Section 23
Headnote
Insurance - Fidelity Insurance - Respondent is a Collateral Management Company which stores commodities pledged by farmers, traders etc., in availing loan from lending banks and other institutions - In case of any loss of the pledged commodities, respondent is liable loss to the lending bank - Respondent took Fidelity Guarantee Insurance Policy from appellant-insurance company in respect of the pledged commodities stored in godowns - Three firms entered into agreements with respondent for storing commodities including urad and mentha oil -
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