AKERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION
VAZHUTHACAUD THIRUVANANTHAPURAM
APPEAL NOS 250/12 & 251/12
COMMON JUDGMENT DTD.4.4.12
PRESENT
JUSTICE SHRI.K.R.UDAYABHANU -- PRESIDENT
APPEAL NO.250/12
M/s Manappuram Finance Ltd.
Manappuram House,
Valappad P.O, Thrissur, -- APPELLANT
Reptd. by Jayaraj N.R. Manager-Legal,
Thiruvananthapuram.
(By Adv.J.S.Asok kumar)
Vs.
Divisional Manager,
Oriental Insurance Company Ltd. -- RESPONDENT
1st Floor, Maheswary Building,
M..G.Road, Thrissur.
APPEAL NO.251/12
M/s Manappuram Finance Ltd.
Manappuram House,
Valappad P.O, Thrissur, -- APPELLANT
Reptd. by Jayaraj N.R. Manager-Legal,
Thiruvananthapuram.
(By Adv.J.S.Asok kumar)
Vs.
Divisional Manager,
Oriental Insurance Company Ltd. -- RESPONDENT
1st Floor, Maheswary Building,
M..G.Road, Thrissur.
COMMON JUDGMENT
JUSTICE SHRI.K.R.UDAYABHANU,PRESIDENT
The appellant in both the matters is the complainant/financiers in CC.551/11 and CC 552/11 in the file of CDRF, Thrissur. The complainant has sought for the assured sum vide the fidelity guarantee policy with the opposite party/Insurance Company with respect to the loss occasioned due to infidelity on the part of the employees of the firm. The complaints were dismissed by the firm on the ground that the complainant is a commercial enterprise.
2. We find that the order of the Forum is clearly erroneous as the question of law on the point is settled vide a number of decisions eg; M/s Horsolia Motors vs. M/s. National Insurance Co. Ltd; 2005 CPJ (I) (NC) 27 etc. As noted in the above decision, the person who takes insurance policy to cover the envisaged risk does not take the policy for commercial purpose. Policy is only for indemnification and actual loss. It is not intended to generate profit. In the circumstances, the orders of the Forum in both the matters are set aside. The Forum is directed to issue notice to the opposite parties, consider the complaint and dispose of the same on merits. The matter stands posted before the Forum on 29.5.2012.
Office will forward a copy of this order to the Forum.
JUSTICE K.R.UDAYABHANU -- PRESIDENT
