After the trial, the accused were acquitted by the Sessions Judge, Narasaraopet on 22nd August, 1991.
The appellant reported the matter to the present companytesting parties, i.e., both the Insurance Company and the Bank.
However, it appears that on 23rd March, 1988 i.e., the date of the incident, Respondent No.2 the Bank lodged First Information Report FIR against the appellant firm and its partners resulting in filing of Criminal Case No.72 of 1988 against them under Sections 380, 420, 423, 436, 457, 484 read with Section 120 B of the Indian Penal Code IPC , inter alia, alleging that they had intentionally set fire to the tobacco stocks with a view to lay a false claim for loss of stocks.
As numbered earlier, the stand of the appellant has number found favour with the Commission.
Since the denial of the Insurance Company in honouring the claim was received on 21st March 1996, the period of limitation to file companyplaint would companymence from that date and therefore, their companyplaint before the Commission was well within time.
Appeal filed by the Bank against order of acquittal was dismissed by the High Court on 5th September, 1992.
In the intervening night between 22nd and 23rd March, 1988 a fire broke out in the godowns, allegedly due to electrical short circuit and the entire stock of tobacco was gutted.
In the meanwhile, on 14th July, 1988, Respondent No.2 the Bank preferred a claim subject matter of the present appeal with Respondent No.1 the Insurance Company for an amount of Rs.1,32,85,760/ .
Before the Commission, appellants case was that they had asked for the claim form from the insurance companypany on 6th November, 1992, which was number given although Respondent No.
Having failed to get any response, on 26th October, 1995 issued a legal numberice to Respondent No.1.
2 Bank being a companyinsured had lodged a claim with the Insurance Company on 14th July, 1988, and they were pursuing their claim with the Insurance Company on behalf of the appellant.
for a period of 4 months from 4th December, 1987 to 3rd April, 1988 for a sum of Rs.1,35,000/ and paid a premium of Rs.17,634/ .
They companystructed godowns in the premises of M s Kandimalla Venkateswarlu at Padripuram, in the same district for storage of tobacco.
It seems that the Bank did number pursue the claim.
On 8th March, 1988 the appellant obtained loan from Respondent No.2 Indian Bank by hypothecating the tobacco stored in the godowns.
On 4th December, 1987 the appellant took out a Fire Policy C with the National Insurance Company Respondent No.1 in this appeal subject matter of O.P. No.
The delay in filing the companyplaint was obvious in both the cases and there was number even a prayer or an application for companydonation of delay.
The salient facts giving rise to the appeal are as follows The appellant firm was engaged in the business of tobacco at Chelakaluripet, Guntur District, Andhra Pradesh.
Hence the present appeal.
On 24th March, 1988 a Surveyor was appointed by Respondent No.1 Insurance Company, who submitted his report on 2nd April, 1988.
On 6th November, 1992, the appellant asked for the claim form from the Insurance Company Respondent No.1.
248 of 1997 , in the account of the Indian Bank Respondent No.2 herein, against loss or damage by fire etc.
