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TMI Blog1990 (2) TMI 312X X X X Extracts X X X X X X X X Extracts X X X X ..... ade to the Code of Civil Procedure, by which liquidated demand became subject-matter of summary suits for the first time. 3. The industry of counsel had not been able to produce a single precedent of courts in India, which explained what is liquidated demand . However, reference has been made to Words Phrases Permanent Edition, n which reference is made to Rifkin v. Safenovitz, 40 A 2d 188. It is stated that amount claimed to be due is a liquidated demand within statute authorizing summary judgments if it is susceptible of being made certain in amount by mathematical calculations from factors which are or ought to be in possession or knowledge of party to be charged . 4. The party to be charged in the instant case is Oriental In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ors and assessors ought to have. Section 64-UM(2) requires that claims or losses which have occurred in India, and are required to be settled in India, which exceed ₹ 20,000/-, shall not be admitted for payment or settled by the insurer unless the insurer has obtained a report on the loss that has occurred, from a person who holds a license issued under this section to act as a surveyor or loss assessor. The proviso to sub-section (2) enables the insurance company to settle or pay an amount different from the amount assessed by the surveyor or loss assessor. 8. The insurance policy deals with stranded vessel, and claims arising there from. The relevant provision in the insurance policy reads as under:- 5. Warranted free from Pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cargo. This is so stated in the surveyor's report, which has assessed a percentage loss that the damage was caused owing to cyclonic storm, on account of which the ship had to take shelter at Bedi Bandar. 12. In view of the provisions of the insurance policy, the provisions of item 14 of the Schedule to the Insurance Act, the provisions of Sec. 64UM of the Insurance Act, the percentage loss suffered to the dry dates as evidenced by the report of the surveyor, in my view, is capable, by an arithmetical calculation, of arriving at a determinable sum, which sum would constitute a liquidated demand'' within the meaning dicta in Rifkin v. Safenovitz (supra), and the provisions of Order xxxvII of the Code of Civil Procedure. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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