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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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July 27: The Supreme Court has upheld the insurance claim made by Everest Paper Mills. Issuing a final verdict in favour of the mill, the apex court has ordered United Insurance Company to pay the insurance claim to the mill after a lengthy legal battle. In addition to that, the insurance company has also been instructed to pay the interest for the liable amount.
A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint.
However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.
“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.
He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’.
During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.
The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products.
The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant.
The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages.
As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.
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include - APP/View/Articles/view.ctp, line 273
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View::render() - CORE/Cake/View/View.php, line 473
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Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
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'title' => 'Supreme Court Tells United Insurance Company to Settle Insurance Claim ',
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'summary' => 'July 27: The Supreme Court has upheld the insurance claim made by Everest Paper Mills. ',
'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">July 27: The Supreme Court has upheld the insurance claim made by Everest Paper Mills. Issuing a final verdict in favour of the mill, the apex court has ordered United Insurance Company to pay the insurance claim to the mill after a lengthy legal battle. In addition to that, the insurance company has also been instructed to pay the interest for the liable amount.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">July 27: The Supreme Court has upheld the insurance claim made by Everest Paper Mills. Issuing a final verdict in favour of the mill, the apex court has ordered United Insurance Company to pay the insurance claim to the mill after a lengthy legal battle. In addition to that, the insurance company has also been instructed to pay the interest for the liable amount.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">July 27: The Supreme Court has upheld the insurance claim made by Everest Paper Mills. Issuing a final verdict in favour of the mill, the apex court has ordered United Insurance Company to pay the insurance claim to the mill after a lengthy legal battle. In addition to that, the insurance company has also been instructed to pay the interest for the liable amount.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A division bench of justices Bisnwambhar Prasad Shrestha and Hari Prasad Phuyal issued the verdict last Wednesday (July 22). The paper mill had claimed insurance worth Rs 15 million for damages while filing the complaint. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">However, United Insurance has said it will take further legal steps after getting the full text of the verdict. Stating that the Supreme Court’s verdict has victimized them, a high ranking official of the insurance company said they will take further legal steps in this regard.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“We haven’t received the full text of Supreme Court verdict. We ill take further legal steps after consulting with our layers upon receiving the full text,” said the official requesting anonymity.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">He argued that the Supreme Court’s verdict in favour of the petitioner has been unjust for them when the surveyor has presented a report that warrants ‘no claim’. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">During the insurgency era, the then Maoists rebels had detonated a pressure cooker bomb at Everest Paper Mills after the company declined to provide donation to the insurgents. The blast had damaged the machinery and readymade papers inside the mill.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill had purchased two separate insurance policies from the insurance company for the machinery plant and the readymade products. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The insurance company argues that the insurance policy covers damage to readymade products stored in the warehouse but the paper mill has been claiming compensation for products damaged in the plant. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The paper mill and insurance company had jointly hired two surveyors to prepare a report. The surveyors concluded that it was the company’s flaw to keep the readymade products inside the plant and therefore the insurance company did not need to pay for the damages. </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">As per the recommendation made by the report, the insurance company had paid Rs 45 million to the mill for the damages sustained by the plant.</span></span></span></span></p>
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