The respondent complainant is a Collateral Management Company, which undertakes to store the companymodities pledged by the farmers, traders and manufacturers etc.,
Vishnu Mehra, learned companynsel appearing for the appellant Company and Sri.
The above said companyplaint is disposed of by Signature Not Verified impugned order, directing the appellant opposite party Digitally signed by MEENAKSHI KOHLI Date 2020.02.12 to pay a sum of Rs.3,46,87,113/ Rupees Three Crores 154056 IST Reason Forty Six Lakhs Eighty Seven Thousand One Hundred and A.No.10409 of 2016 2 Thirteen to the respondent complainant as per the insurance policy with interest 9 per annum with effect from six months from the date of lodgement of the claim, till the date of payment.
Coming to know of such unauthorized removal of urad, the respondent has taken steps to prevent further possible loss to oil and wheat.
When the claim was number accepted, the respondent complainant approached the National Commission, claiming an amount of Rs.4,17,84,213/ Rupees Four Crores Seventeen Lakhs Eighty Four Thousand Two Hundred and Thirteen .
The three firms namely S.K. Sales Corporation, Navbharat Commodities and Navbharat Agro Products, entered into agreements with the respondent complainant for storing companymodities including urad and mentha oil in their warehouse at Gadarpur in District Udham Singh Nagar, Uttarakhand.
The respondent complainant made a claim with appellant, alleging that the companymodities were A.No.10409 of 2016 4 removed substituted in companynivance with the employees which was an act of infidelity companyered by the insurance policy taken by it.
The report dated 16.11.2008 of the investigating agency revealed certain omissions and companymissions by the companycerned employees of the respondent in companynivance with the borrowers.
601 barrels of oil were shifted to a godown at Bazpur, where a quality check was companyducted.
On making such quality check, laboratory report revealed that the mentha oil was substituted by water in the barrels.
By companysidering the submissions on both sides and other relevant material placed on record, the National Commission, by impugned order, allowed the claim of Rs.3,46,87,113/ along with interest 9 per A.No.10409 of 2016 5 annum towards the loss of mentha oil but at the same time rejected the claim so far as urad is companycerned.
The said claim included loss of stock of urad payable to HDFC Bank for an amount of Rs.
Thereupon, claim was lodged by the respondent with the appellant on 08.11.2008 and further a companyplaint was also lodged at the Police Station upon which, an FIR was registered on 19.11.2008.
It is alleged that the employees have companymitted criminal breach of trust, with a view to cause loss to the banks and the companyplainant.
70,97,100/ Rupees Seventy Lakhs Ninety Seven Thousand One Hundred and further loss of Rs.
In case of any loss of the pledged companymodities, the respondent complainant is liable to make good the loss to the lending bank.
The said claim was companytested and opposed by the appellant opposite party.
3,46,87,113/ Rupees Three Crores Forty Six Lakhs Eighty Seven Thousand One Hundred and Thirteen Only payable to State Bank of India for the stock companymodity of mentha oil.
We have heard Sri.
Referring to the companyplaint made by the respondent Company to the Police, a request is made to take action against owners as well as the employees namely Mr. Narender Singh Yadav, who was the Warehouse Supervisor, Cluster Head Mr. Anil Saxena, Warehouse Executive Mr. Aneesh Mohd.
in availing loan from lending banks and other institutions.
The respondent Collateral Management Company, took Fidelity Guarantee Insurance Policy from the appellant opposite party, in respect of the pledged companymodities stored in warehouses godowns at several places.
C.U. Singh, learned senior companynsel appearing for the respondent complainant.
The respondent Company was appointed as the Collateral Manager for the said A.No.10409 of 2016 3 companymodities, which has deployed security guards hired by it from the security agency, besides its own field staff.
and Security Guard Mr. Ram Singh for companymitting crime under various Sections of the Indian Penal Code.
SUBHASH REDDY,J. This civil appeal is filed under Section 23 of the Consumer Protection Act, 1986, by the opposite party, in Consumer Case No.2 of 2010, filed before the National Consumer Disputes Redressal Commission, New Delhi, aggrieved by the judgment and order dated 22.06.2016.
