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NCDRC Reduces Compensation In 2005 Mumbai Flood Insurance Dispute, Directs New India Assurance To Pay ₹21.37 Lakh
The NCDRC partly allowed New India Assurance's appeal in a dispute over damage to an industrial printing machine during the 2005 Mumbai floods. It reduced the compensation awarded by the State Consumer Commission and directed the insurer to pay Rs 21.37 lakh with 6 per cent annual interest from February 28, 2006, plus litigation costs.
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