Flood compensation: Suplyco to move HC over food grain loss
text_fields
Thiruvananthapuram: SupplyCo is all set to approach Kerala High Court against United India Insurance Company for compensation for loss of food grains stored in mills during the floods last year. SupplyCo lost food grains to the tune of 137.11 crores.
Of them, food grains worth 131.27 crore were destroyed in the floods stored in mills that are in contract with SupplyCo, and the rest of the materials worth Rs 5.08 crore stored in depots and sales outlets were also got damaged.
Although, SupplyCo had insured the food grains stored in mills for Rs 273 crores, food grains stored in depots and godowns had not been insured, forcing the Coporation to write off the loss.
Although the Supply Co claimed 131.27 crore, the insurance company so far paid only Rs 25 crore, Said Food and Civil Supplies Minister P. Thilothaman.
