VISHNU BHAGWAN AGRAWAL PROPREITOR vs NATIONAL INSURANCE CO. LTD. THROUGH ITS REGIONAL DIRECTOR — C.A. No. 4661/2007

The Supreme Court upheld the Umpire's arbitration award of Rs. 23,55,132.71 favoring appellant Vishnu Bhagwan Agrawal in a jute fire insurance dispute. The court held that the insurance company's conduct—accepting enhanced premium payments and not formally rejecting the July 1985 policy increase request—estopped it from denying the coverage limit had been raised to Rs. 25+ lakhs, and that purchase price (Rs. 703.21/quintal) reasonably reflected market value on the fire date, rejecting the insurer's lower surveyor valuation. This case analysis is maintained by casestatus.in based on publicly available court records.