Legal Question in Consumer Law in India

deficiency by cooperative society

i have taken a cash credit loan from a coop credit society in maharashtra state. the society used to debit isurance premium in account and get the policy agaist stock. in the year the society forgets to renew the policy and a theft occures in my premises resulting a loss . the terms and conditions of loan provides that primary liability to get insurance is on me but if i failed the society will take the policy and debit the premium to my a/c. in earliers three years society has debited to my account.Now i am claiming the loss from society on account of deficiency in renewing the policy but it denied that it is not its responsibility. In a litigation with AR of cooperative societies he awarded a partial claim. now pl advise me what action should i take to recover the claim and loss of business . whether it is admissible in consumer fourm. it is noteworthy that after the incidence of theft the society has renewed the policy by its own by debiting the premium to my account.pl give case laws to the point and help.


Asked on 1/06/04, 1:04 am

1 Answer from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Re: deficiency by cooperative society

It will all depend upon the terms of the loan agreement between you and Society. If the term of agreement provide for insurance and its renewals by Society, then you can claim damages from Society.

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Answered on 1/12/04, 1:09 pm


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