Court : Mumbai
Decided on : Jul-16-2013
..... have pointed out, mr. tendolkar contends that the law in this country is different. i have already held that sections 124 and 125 of the indian contract act are not exhaustive of the law of indemnity and that the courts here would apply the same equitable principles that the courts in england do. therefore, if the indemnified has incurred a liability and ..... before the learned arbitrator by the respondents. in this context, reference to section 124 of the contract act would be relevant which is extracted as under - 124. "contract of indemnity" defined: a contract by which one party promises to save the other from loss caused to him by the contract of the promisor himself, or by the conduct of any other person, is called a ..... "contract of indemnity". learned arbitrator recorded a finding that creation of fund is well accepted position in law which ..... an indemnified can resort to against the indemnifier. on perusal of section 124 of the contract act, it is clear that if promisee suffers any loss by conduct of the promisor or by conduct of any other person in respect of which indemnity is furnished by the promisee would be entitled to indemnify such loss against the promisor. in case .....Tag this Judgment!
Court : Mumbai Goa
Decided on : Jul-05-2013
..... no. 1 pays the same to the plaintiff. therefore, the plaintiff has right to sue for specific performance of the insurance policy which is the contract of indemnity. there can be no fear that the plaintiff, after receiving the amount would pocket the same. in terms of the impugned decree, in the ..... impugned judgment and decree be set aside. 14. mr. sardessai, the learned counsel appearing on behalf of the plaintiff, submitted that the contract of insurance is a contract of indemnity and there is no clause in the policy for not indemnifying the plaintiff in respect of removal of wreck which is not in the ..... and supported by documents, have been confirmed by pw3, captain gopinath, who is the said deputy conservator of mormugao port. as already stated earlier, the indemnity is not only for actual removal or destruction of the vessel but also for attempted removal or destruction. though it is contended by mr. afonso, ..... for the expenses incurred towards wreck removal as the wreck was outside the port area. there is no clause in the insurance policy saying that indemnity for wreck removal would not arise if the wreck lies outside the port area. the notification specifying the limits of the port area has not ..... filed written statement to the counterclaim of defendant no. 2 alleging that the payment of the bill for rs. 13,00,000/- was subject to indemnity granted by the underwriters i.e. defendant no. 1 under the insurance policy for wreck removal and this was known to the defendant no. 2 and .....Tag this Judgment!
Court : Mumbai Nagpur
Decided on : Jul-12-2013
..... ruling in the oriental insurance company vs meena variyal reported in (2007) 5 scc 428 to submit that the contract of insurance is contract of indemnity between the insurance company and the insured . when the insured motor vehicle meets with an accident while driven by ..... or any of the negligent persons and it is no concern of his whether there is any duty of contribution or indemnity as between those persons, though in any case he cannot recover on the whole more than his whole damage. he ..... karpe for the respondent submitted with reference to the ruling that the employees of the insured are not normally covered under the contract of insurance, but shri carpe invited my attention to the ruling in t.o. anthony vs. karvaran and others reported ..... the employee of the insured, primary liability is of the driver and the owner of the vehicle becomes vicariously liable. insurer would pay for such vicarious liability of the owner pursuant to the insurance contract ..... . third party for whose benefit the insurance contract .....Tag this Judgment!
Court : Delhi
Decided on : May-14-2013
..... the supreme court in the case of united india insurance company ltd. vs. kantika colour lab & ors. 2010 (scc) 449 held that contracts of insurance are generally in the nature of contract of indemnity. similarly, in the case of m/s. suraj mal ram niwas oil mills (p) ltd. vs. united india insurance co. ltd ..... no. v; that would further show that there was no acceptance by the defendant much less the communication thereof to the plaintiff. the insurance contract does not come into existence with the tender of cheque alone. there has to be necessarily acceptance and communication thereof to the plaintiff by ..... and communication thereof to the proposer.27. in the instant case, the tender of a cheque of premium itself would not create an insurance contract. this was only a proposal that was submitted by the plaintiff. unless the same was accepted by the defendant and duly communicated to the ..... makes the payment only after the amount is accepted by the insured in full and final payment.11. it is additionally contended that a contract of insurance is complete only after the proposal is accepted and that mere delivery of a letter enclosing the cheque for enhancement of the sum ..... . & anr., 2010 (10) scale 640 the supreme court also held that in a contract of insurance, the rights and obligations are governed by the terms of contract. therefore, the terms of a contract .....Tag this Judgment!
Court : National Consumer Disputes Redressal Commission NCDRC
Decided on : Feb-07-2013
..... company ltd., i (2005) cpj 27 (nc)=(2006) 5 cpr 1 (nc), in which this commission has taken the view that contract of insurance is a contract of indemnity and, therefore, question of any of commercial activity does not arise. it has been held that the insured, who takes the insurance policy ..... 21/07 and first appeal no. 320/07 are identical. complainant company is seeking payment in accordance with the policy contract and the surveyors report whereas the insurance company claims that if the policy and the surveyors report is implemented, it would lead to violation of ..... case, it is held that the complainant had taken the insurance company for getting indemnified for the loss, if any, during the execution of the contract. this would not amount to any commercial activity. complaint is held to be maintainable. 22. the issues involved in both, consumer complaint no. ..... companies. since the quotation of rs. 71,64,272 given by the opposite party/respondent insurance company was the lowest, they were awarded the contract. the opposite party/respondent issued the contractors all risk (car) policy to the complainant on payment of two instalments of the premium as ..... before the consumer fora. findings: in the following facts are not disputed. complainant, a partnership firm engaged in the construction business was awarded a contract by the opposite party no. 2, national highway authority of india for widening/construction of 413 kms. road, bridges, flyovers and culverts in the .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Jul-12-2013
..... premium was paid to cover the risk of other employees or coolies being carried in the vehicle. it is thus held that ". it is well known that contract of insurance is but a contract of indemnity, and so the insurer is liable only to the extent of the liability it undertakes".. it was further held that ".so, unless the owner of the vehicle ..... , who was, allegedly, a labourer travelling in the trailer.".31. the principle that is deducible from precedents cited at the bar and other precedents is policy of insurance is a contract between insured and insurer and obligations flowing there from depends upon the terms and conditions incorporated in the policy. unless there is express coverage to class of persons insurer is ..... is a comprehensive policy, the company was liable to indemnify the owner. the high court reversed the decision of the commissioner and held that in the absence of any special contract between the appellant and respondent, rights of the parties would govern by statute which did not require the respondent to cover the liability in respect of an accident to a ..... covered. learned counsel contends that mandate of section 147 of the act,1988 being clear, it should be applied strictly, more particularly when liability is imposed flowing out of the contract of insurance.13. chapter xi of the 1988 act covers the subject of insurance of motor vehicles against third party risks. section 146(1) mandates that no motor vehicle can .....Tag this Judgment!
Court : Delhi
Decided on : Apr-09-2013
..... . of state and anr. air 193.all848, a single judge of allahabad high court held that a contract of indemnity or a contract of guarantee may be created either by parol or by a written instrument. ch.8 contract act, is not exhaustive on the subject. a contract of guarantee need not necessarily be in writing; it may be express, by words of mouth, or .....Tag this Judgment!
Court : UK Supreme Court
Decided on : Nov-06-2013
..... to cause, the subject matter of the two claims is different. the former are claims in tort (or its greek equivalent) and the claim for an indemnity is a claim in contract. as to object, that of the greek proceedings is to establish a liability under greek law akin to tort, whereas, as for example in the case of a ..... of the jurisdiction clauses in the settlement agreement and the policies; (v) damages for breach of the jurisdiction clauses in the policies and cmi settlement agreement; and (vi) an indemnity under clause 3 of that agreement in respect of claims brought by starlight and/or its associated companies in the various greek proceedings; (2) the lmi claim against starlight ( ..... to their contractual obligations and their legal obligations and in particular contrary to the provisions of the insurance contract, providing for the timely payment of the insurance indemnity." 12. they also include the claim that the appellants were asserting and disseminating false information to third parties, although they were aware of their falsity, damaging the claimants' ..... purpose that the underwriters (who were responsible for the payments of the insurance indemnity for the vessel) avoid paying the insurance indemnity, contrary to their contractual obligation and their legal obligation and in particular contrary to provisions of the insurance contract providing for the timely payment of the insurance indemnity " mr crampton then turned to what he called the "[i]ntentional fabrication .....Tag this Judgment!
Court : Delhi
Decided on : Dec-02-2013
..... 37 of the civil procedure code (cpc), 1908 but was converted into an ordinary suit. the respondent/defendant contested the suit, though not disputing the execution of the service indemnity bond but denying that any training was imparted to her and further pleading that though the bond was got executed stating that the respondent/defendant would be deputed to italy ..... respondent/defendant to deposit the sum of rs.5 lakhs for prematurely leaving the services of the appellant/plaintiff and after obtaining all training etc., as undertaken in the service indemnity bond. upon non-compliance by the respondent/defendant, the suit for recovery of rs.5 lakhs with interest was filed.4. though the suit was originally filed under order ..... respondent/defendant bound herself to serve the appellant/plaintiff for five years and to indemnify the appellant/plaintiff for rs.5 lakhs in case of discontinuing her services before the contracted period. the appellant/plaintiff thereafter, on completion of the probation period, issued letter dated 1st december, 2004 to the respondent/defendant confirming her employment on the terms and conditions ..... appellant/plaintiff in the sum of rs.5 lakhs in the event of discontinuing the service before the contracted period; (iv) that the respondent/defendant, in violation of the service indemnity bond, sent a letter dated 18th february, 2006 stating that she would be unable to continue with the services as her husband was moving to dubai and also on medical .....Tag this Judgment!
Court : Madhya Pradesh
Decided on : Aug-20-2013
..... interfered. (2) in para 54 of the order the court below considered that the tribunal had considered three bank guarantees. (a) for performance security of performance bond contract, 10% of the total price. (b) indemnity bank guarantee of 12.5% of total price for achieving guaranteed parameters. (c) performance guarantee of 15% of the total price for performance of both the units ..... wrongly awarded and the tribunal had crossed the limits of illegality. the award passed by the tribunal in respect of indemnity bank guarantee in the sum at 12.5% of the contract price and performance guarantee in the sum at 15% of the contract price which were in fact not submitted by the appellant at all. on the aforesaid ground, the additional district ..... (iii) loss resulting from the liability of the other party to any other person howsoever and wheresoever arising.""14.2 subject to the payment of delay liquidated damages and any indemnity in clause 16 neither the party liable not any of its officers, employees or agents shall in any circumstances whatsoever be liable to the other party for: (i) any loss ..... to the claimants the necessary information regarding the actual performance of the steam turbine. the respondent also did not furnish to the claimants the comfort letter ensuring payments under the contract. the comfort letter was to be issued by the power finance corporation. cross examination concluded. no re-examination by counsel for the claimants. unquote it was submitted by learned counsel .....Tag this Judgment!