...crores. According to the appellant, the policy was on reinstatement value. The policy was enhanced to Rs. 4.50 crores. That during the validity period of policy i.e., on 17.10.2009 fire broke out in the...reinstatement value basis at Rs. 29,17,500/- and on depreciated value at Rs. 12,60,000/-. The insurance company despite the reports of the surveyor and investigator repudiated the claim. The appellant herein...assessed by the surveyor on the basis of the reinstatement value awarded a sum of Rs. 29,17,500/- together with 9% interest from the date of repudiation letter dated 28.10.2010. The State Commission also...

...also by the Taluqdars. Mr Bindra contended that the Tribunal's award should be restored. Mr A.K Sen contended that the compensation should be awarded on the basis of reinstatement value. In our...the basis of the reinstatement value which is assessed according to the cost of acquiring an equally convenient land or premises. Cripps on Compulsory Acquisition of Land, 11th Edn., Articles 4-203, p.... 907 explains this method thus:“Before the Acquisition of Land Act, 1919, reinstatement value, instead of market value, was sometimes given so as to give proper effect...

...machinery at plot no. 70/3, B. K. Textile Compound, Dan Udyog Sangh Ltd., Piparia, Silvassa, Dadra Nagar, Haveli, for a sum assured of Rs. 2,87,00,000/-. The policy was obtained on reinstatement value basis...under this policy shall be payable unless the terms of this condition have been complied with.4. Reinstatement Value Policies3. This Memorandum shall be without force or...counsel for the complainant that the requirement of intimating the insurer and submitting a claim within 15 days of the loss stands superseded by clause 4(3) applicable to reinstatement value policies...

...compensation at “reinstatement value” for rehabilitation of the tribals under Exs. A-5 and A-6, the awards made by the reference court in OP Nos. 17-18/80, the Subordinate Judge awarded at the rate...agricultural land. The contention that the doctrine of reinstatement value in determination of the market value to the lands of depressed value due to operation of the Andhra Pradesh Scheduled Areas Land.... Rejecting the evidence relied on by the claimants under Exs. A-1 to A-6, there is no other evidence to enhance the compensation. The doctrine of reinstatement value cannot be applied in determining...

.... Textile Compound, Dan Udyog Sangh Ltd., Piparia, Silvassa, Dadra and Nagar Haveli, for a sum assured of Rs 2,87,00,000 (two crores eighty-seven lakhs only) on reinstatement value basis. Due to...complainant that the requirement of intimating the insurer and submitting a claim within 15 days of the loss stands superseded by Clause 4(3) applicable to reinstatement value policies, which required the...requisite intimation to be given within six months of the date of loss. I, however, find no merit in the contention. The obligation of the insured under Clause 4(3) applicable to reinstatement value policies...

...electricity for their own use. As the complainant's company is insurance cognizant, to protect of all the properties of the complainant, all contingencies and perils on Reinstatement Value Basis and with...during the year 2010-2011, on Reinstatement Value Basis with proper updated valuation for six wind mills totally Rs.1,43,158/- was paid. While being so the fourth wind mill insurance policy was about to...expire on 18.10.2011. On 17.10.2011 the complainant sent the proposal form to renew the policy, Fire and specific perils, Burgalary and upon Reinstatement value basis with escalation of 10% value...

...machinery. The policy for plant and machinery was always extended by the complainant to include the benefits of Reinstatement Value Clause in which in the event of a loss, the Complainant became.... In the said policy as required by the complainant, the OP extended it to include the Reinstatement Value Clause. For the year 2005-2006 the policy was again renewed with the OP. The...the Reinstatement Value Clause in the policy for the year 2005-2006. It is submitted that the Complainant could not notice the omission. On 09.12.05, a major fire broke out at the premises of the...

...Pvt. Ltd. were appointed as the surveyors. The insurance company sent policy schedules to the surveyor, stating therein that the machinery, except card clothing had been insured on reinstatement value basis..., meaning thereby that the card clothing machinery had not been insured on reinstatement value and had rather been insured on depreciated value. The surveyor however, assessed the loss to the...complainant at Rs.28,35,518/- on reinstatement value. The insurance company, vide letter dated 05.3.2002, directed the surveyor to reassess the loss on depreciated value basis, on the ground that the...

...reinstatement basis whereas, the Insurance Company has stated in the written statement that there is no reinstatement value clause in the policy and therefore, claim cannot be allowed on reinstatement basis...the record. Learned counsel for the complainant stated that in the proposal form there was a clear request that the insurance should be made on reinstatement value basis. However, the policy was...issued without any reinstatement value clause. Tundla division of the opposite party has sent an e-mail dated 19.08.2014 admitting mistake to the higher authorities of the opposite party that the insured...

...to have been 'Reinstatement Value'. However, from the year 2013-2014 onwards that appear to have been a slight change. 6.In the policies that were issued to the...between ''Market Value Basis'' and ''Reinstatement Value Basis'' has been explained by the counsels for the petitioner and the respondent as follows:- 5... Market Value Basis Reinstatement Value Basis Under the fire policy, claims are settled on the basis of the...

...in the claim form but OPs did not give a positive response. The main grievance in the complaint filed by the complainant is that the OP-1 has not included reinstatement value clause in the policy and...therefore, the assessment has not been done by the surveyor on the basis of reinstatement value clause. Complainant has prayed in the complaint to direct OPs to pay the sum of Rs.65,69,569/- for one...policy by not including reinstatement value clause and OP3 affirms having requested OP1 to rectify the policy by adding re-instatement value clause in the policy. 5...

...the respondent No. 2 to sanction the petitioners' claim on reinstatement value basis and to continue to treat the said policies to be issued on reinstatement value basis.3. The...policy clearly stated that the policy was to be on the reinstatement value basis. However, factually the policy document did not mention that the same was issued on reinstatement value basis. It was....Page: 6058. The petitioners, however, still persisted under their letter 27-4-2006 that their proposal form submitted by them required the policy to be on reinstatement value basis and that...

...interesting point. He submits that the policy of the Decree Holder is in respect of the reinstatement value cost and therefore, no depreciation can be deducted by the Insurance Company.2. Vide...this point.4. We are able to locate the definition of reinstatement value clause on the website of IRDAI, which mentions:—“d) “Reinstatement Value” means the cost of...

..., Thovalai Taluk 629301. This windmill was erected and commissioned on 30.09.1993 and was insured for Rs 1,07,55,000/- and premium was being paid on reinstatement value basis. It is stated by the complainant...that though the policy document did not initially mention that the policy was on reinstatement value basis, subsequently an endorsement based on the insured's request dated 16.02.2010 recorded that..."Notwithstanding anything stated to the contrary it is hereby declared and agreed that the policy is subject to reinstatement value clause as from inception of the policy and not as...

...for stock and stocks in process). In the insurance policy, there was Clause 4, i.e. reinstatement value clause. On 5.01.2013 at about, 3.30 a.m. fire broke out in the premises of the company. The fire...should have been approved by the Insurance Company on reinstatement value clause basis no.4 of the policy) instead of on(clause depreciation basis. No reason has been given by the Insurance Company for not.... As the order of the State Commission is reasonable, no appeal has been preferred by the Insurance Company. So far as the reinstatement value clause is concerned, the complainant does not satisfy the...

...that the policy was in continuation for three years. On the 4thyear, the policy did not show the reinstatement value clause. The complainant had tick marked the option in the proposal form...for reinstatement value clause. The counsel further submitted that the insurance company by its letter dated 1.2.2004 informed that the OP had not considered the request but the policy was issued on...market value basis instead of reinstatement value clause and the same was conveyed to their agent. The policy was issued on 6.1.2004 since there was no change in the terms of policy. Learned counsel for...

... Company and not paying the insurance claim at reinstatement value basis as specified in the insurance policy. c) To compensate...company. It was submitted that the insurance policy docket states that the proposal is on Reinstatement Value Basis. However, the surveyor of the insurance company gave the assessment on a depreciated...the repairs/replacement bills along with payment proof which is the first and foremost condition for Reinstatement Value Basis assessment. It was further submitted that reasonable adjustments were made...

...-incorporation of Reinstatement Value Clause in the insurance policy. Policy document did not include it. According to the complainant, they have tick mark that option in the Proposal Form. However..., Insurance Company by its letter dated 01/02/2004 clarified as under :- In this regard, we would like to inform you that even though you had opted for the Reinstatement Value Clause in the proposal form..., we have not considered the same. Hence, the policy was issued on Market Value Basis and not on Reinstatement Value Clause. The same was already conveyed to your Agent, Shri D.P. Singhania by the...

... Company and not paying the insurance claim at reinstatement value basis as specified in the insurance policy. c) To compensate...company. It was submitted that the insurance policy docket states that the proposal is on Reinstatement Value Basis. However, the surveyor of the insurance company gave the assessment on a depreciated...the repairs/replacement bills along with payment proof which is the first and foremost condition for Reinstatement Value Basis assessment. It was further submitted that reasonable adjustments were made...

...which the OP claimed that these conditions were fully explained to the complainant at the time of issuing the policy. Reinstatement Value Clause as contained under clause 2 and detailed at page No... As per the valuation report of Er. Daljit Raheja dt. 29.05.2018, reinstatement value of the building is computed at Rs.1,59,89,074/- Therefore, the sum insured of Rs.2.10 Crores is... 2 adequate enough for present reinstatement value of the building. Therefore, average clause is not...