This order appoints a retired judge as sole arbitrator to adjudicate the dispute between a petitioner company and insurance respondents regarding the quantum of insurance claim after the respondents refused to nominate an arbitrator.
Appointment of Hon'ble Mrs.Justice Chitra Venkataraman as Sole Arbitrator to adjudicate the dispute.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 29.07.2019
CORAM
THE HONOURABLE MRS.JUSTICE PUSHPA SATHYANARAYANA
O.P.No.120 of 2019
M/s.Chennai Expo Prints Pvt. Ltd.
Rep. by its Director Mr.G.Varagamurthy,
No.9/6, Chakrapani Street,
West Mambalam, Chennai-600 033. .. Petitioner
Vs.
1. New India Assurance Co. Ltd.,
rep. by its Divisional Manager,
Divisional Office No.712300,
I Floor, B Wing, SPS Building,
No.185, Anna Salai,
Chennai-600 008.
2. New India Assurance Co. Ltd.,
rep. by its Manager,
Claims Hub, II Floor, B-Block,
Sundaram Finance Building,
No.21, Patullos Road,
Chennai-600 002.
3. S.P.S.Murali .. Respondents
* * *
Prayer : Petition filed under Section 11(6) of the Arbitration and Conciliation Act, 1996, praying to appoint an Arbitrator on behalf of the respondents 1 and 2 to enable constitution of the Arbitral Tribunal along with the appointed arbitrator namely, third respondent to adjudicate the dispute on the quantum of loss payable on the claim of the petitioner under SFSP Policy No.71230011140100001972.
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For Petitioner : Mr.R.Ashwanth For Respondents : Mr.S.R.Sundar for RR 1 and 2
O R D E R
This Original Petition is filed seeking for appointment of an
Arbitrator on behalf of the respondents 1 and 2 to adjudicate the dispute on the quantum of loss payable on the claim of the petitioner under SFSP Policy No.71230011140100001972.
financial facilities from Union Bank of India, on the security of the said assets, the policy is issued in favour of the Bank along with the petitioner and the bank is entitled to the extent of its loan to receive
the amount, if any paid under the policy.
02.12.2015 causing loss to the extent of Rs.68,14,580/-. The petitioner submitted its claim with the second respondent, who deputed a Surveyor for assessment. The petitioner stated that the
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Surveyor failed to act in accordance with IRDAI Regulations in surveying the property and not even given a copy of the survey report to the petitioner. The second respondent, based on the said report, admitted insurance claim only to the extent of Rs.18,71,624/- on 26.10.2016. Thereafter, only on 18.07.2018, a copy of the survey
report was provided by the second respondent. The petitioner represented to many of the authorities in the office of the second respondent about the quantum of the claim and submitted various letters seeking enhancement of the same.
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for the parties submitted that they are agreeable for the appointment of Hon'ble Mrs.Justice Chitra Venkataraman, a retired Judge of this Court as the sole Arbitrator.
parties, this Court appoints Hon'ble Mrs.Justice Chitra Venkataraman,
a retired Judge of this Court, having residing at New No.31, Old No.17-B, IV Main Road, Raja Annamalaipuram, Chennai-600 028
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(Phone No.24355679), as the Sole Arbitrator to enter upon reference and adjudicate the disputes inter se the parties. The learned Arbitrator may, after issuing notice to the parties and upon hearing them, pass an award as expeditiously as possible, preferably within a period of six months from the date of receipt of the order. The learned Arbitrator is
at liberty to fix her remuneration and other incidental expenses. The proceedings shall be conducted preferably in the Madras High Court Arbitration Centre and in accordance with the Madras High Court Arbitration Rules.
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PUSHPA SATHYANARAYANA, J.
gg
O.P.No.120 of 2019
29.07.2019
2 issues framed by the court
Whether the Original Petition seeking appointment of an arbitrator by the Court is maintainable in light of the respondents' refusal to appoint.
How the dispute regarding the quantum of insurance claim under SFSP Policy should be adjudicated.
2 provisions across 2 enactments
M/s.Chennai Expo Prints Pvt. Ltd.
New India Assurance Co. Ltd.
S.P.S.Murali
PUSHPA SATHYANARAYANA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
