This is a suit for money decree, interest and other reliefs.
The Plaintiff is a private limited company registered under the Companies’ Act
1956, having its registered office at Sunyat Sen Street, Kolkata – 700072 within the
jurisdiction of this Court. The Defendant is a public limited company having its
office at 4, Mangoe Lane, Kolkata – 700001 within jurisdiction of this Court.
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2026:CHC-OS:252
The Plaint case, in nutshell, may be summarized as follow:
a) The Plaintiff is engaged in the business of cargo handling. In the year 2016,
the Plaintiff participated in a tender for handling cargo at Berth No. 13 (now
Berth No. 14) of the Haldia Dock Complex of Kolkata Port Trust. The
Plaintiff was required to deploy two Mobile Harbour Cranes (in short
“MHC”). The Plaintiff’s bid was accepted as a result of which the Plaintiff
was to deploy to MHCs of 100 tons capacity each. The Plaintiff purchased
two 100 tons capacity MHC from Terex Gottwald which is a company of
Germany. Import value of each crane was Rs.20,58,66,920/-. Since the
values of the two cranes were above rupees forty crores, the Plaintiff had to
look for institutional finance for purchasing and importing the cranes. The
Plaintiff obtained a loan of Rs.37.03 crores from IndusInd Bank. One of the
conditions of the loan was to insure the MHCs to their full value. The
Plaintiff, therefore, got the MHCs insured by the Defendant. The MHCs
were installed and commissioned on 05/11/2016. The MHCs were insured
with effect from 04/10/2016. The insurance was for one year period but
was renewed from time to time. The policy of insurance covered all the
perils. The policy of insurance was “Contractor’s Plant and Machinery
Insurance Policy”. Detailed terms and conditions were embodied and
contained in the said policy document including exceptions.
