SC directed insurer to pay reinstatement value of goods instead of depreciated value
Last updated: 17 January 2023
Court :
Supreme Court of India
Brief :
THE SUPREME COURT directed insurer to pay reinstatement value of the goods damaged and not the depreciated value, because as per the policy, in case the insurance company is unable to reinstate or repair because of some municipal or other regulations, it shall be liable to pay such sum as would be requisite to reinstate or repair such property.
Citation :
CIVIL APPEAL NO. 83 OF 2023 (@ SLP(C) NO. 9049 OF 2021)
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FCS Deepak Pratap Singh
Published in Corporate Law
Views : 464
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