Legal Question in Civil Litigation in India

Its relating to the insurance company who still didn't respond to my legal notice concerning matter related to the rest of the debited money which is advisable to pay back to the financier company. The fact of the case is vehicle insured by the concerned insurance company and financed by our company while it came through the accident and rest of the car got scraped and the amount which has to be given to the insurer get received due to the insurance policy, while the money released without any notice to our financier company which we asked the insurance to give us the detail and the further procedure why they have released the amount without paying us our rest debited amount as we are the financier how they will indemnify us but no reply what should be the exact procedure or a criminal procedure and what are the necessary steps must be taken through .

thank you

anupam aind


Asked on 8/23/13, 2:19 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

25.08.2013

Dear Anupam,

Although your query is not very clear, I'll take it. If it a comprehensive-all inclusive policy, the Insurance Company will first payoff and settle the third party insurance liability, if your driver is at fault as per the Police report, since it is an accident case. Any excess remaining with the Insurance company over and above the third party liability settlement has to be handed over to the Insurer (owner) by the insurance Company. The Insurer (owner) has to settle his liability on the vehicle to the finance company. The financier, the Owner and the Insurance company owe separate allegiance entirely independent of each other and there are no overlaps of any nature whatsoever.

Regards,

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Answered on 8/25/13, 5:20 am


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