19 years after Rs 19 lakh vanished from ATM, apex consumer body slashes 25 per cent insurance payout
Indian Express·4h ago·Neutral
What Happened
India's National Consumer Disputes Redressal Commission held an insurer partially liable in a Rs 19.03 lakh ATM cash shortage case from Ghaziabad dating 2005. The apex body reduced insurance payout to 75 percent, citing contributory negligence by the cash-handling firm for lapses in safeguarding access credentials. The case was heard nearly two decades later.
Key Entities
NCDRCUnited India Insurance Company LimitedA P Securitrans Private LimitedGhaziabadDelhi State Consumer CommissionDr Inder Jit SinghDr Justice Sudhir Kumar JainRs 19.03 lakh