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Substitution Petition (Venigros)

Venigros (Pvt) Ltd has filed a civil case against Ceylinco Insurance PLC and the National Insurance Trust Fund Board for money recovery under a Fire Insurance Policy. The plaintiff seeks to substitute Ceylinco General Insurance Limited as the first defendant due to the transfer of the insurance business in compliance with regulatory requirements. The plaintiff requests the court's leave to continue the action with the substitution and to grant costs and other reliefs.

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4 views5 pages

Substitution Petition (Venigros)

Venigros (Pvt) Ltd has filed a civil case against Ceylinco Insurance PLC and the National Insurance Trust Fund Board for money recovery under a Fire Insurance Policy. The plaintiff seeks to substitute Ceylinco General Insurance Limited as the first defendant due to the transfer of the insurance business in compliance with regulatory requirements. The plaintiff requests the court's leave to continue the action with the substitution and to grant costs and other reliefs.

Uploaded by

kusasrika
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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THE HIGH COURT OF THE WESTERN PROVINCE

SITTING IN COLOMBO
IN THE EXERCISE OF ITS CIVIL JURISDICTION

Venigros (Pvt) Ltd


No.400, Deans Road,
Colombo 10.

PLAINTIFF
Case No: HC(Civil) 425/2015(MR)
Procedure: Regular
Nature: Money Recovery
Value: 100 Million Vs.

1. Ceylinco Insurance PLC


“Ceylinco House “
No. 69, Janadhipathi Mawatha,
Colombo 01.

2. National Insurance Trust Fund Board


No.97, Maradana Road,
Colombo 10.
DEFENDANTS

AND NOW BETWEEN

Venigros (Pvt) Ltd

1
No.400, Deans Road,
Colombo 10.

PLAINTIFF- PETITIONER

1. Ceylinco Insurance PLC


“Ceylinco House “
No. 69, Janadhipathi Mawatha,
Colombo 01.

2. National Insurance Trust Fund Board


No.97, Maradana Road,
Colombo 10.

DEFENDANTS- RESPONDENTS

Ceylinco General Insurance Limited


“Ceylinco House “
No. 69, Janadhipathi Mawatha,
Colombo 01.

RESPONDENT

On this … day of September 2016.

The Petition of the Plaintiff-Petitioner above named appearing by … its


Registered Attorneys-at-Law states as follows: -

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01. The Plaintiff-Petitioner instituted this action seeking to be indemnified
by the 1st Defendant-Respondent and/or the 2nd Defendant-Respondent,
in the circumstances morefully pleaded in the Pliant, under and in terms
of Fire Insurance Policy bearing No. NU0011CF0002039 read with the
SRCC Endorsement contained therein and the Renewal Endorsement
bearing No: NU0012CFN0001133.

02. The Plaintiff-Petitioner states that the said Fire Insurance Policy bearing
No. NU0011CF0002039 and the Renewal Endorsement bearing No:
NU0012CFN0001133 had been issued to the Plaintiff by the 1 st
Defendant-Respondent whilst carrying on inter-alia the Life Insurance
and General Insurance business.

03. The Plaintiff-Petitioner states that pursuant to the institution of this


action as aforesaid, it was revealed by the 1 st Defendant-Respondent to
Court that in compliance with the statutory requirements stipulated in
the Regulation of Insurance Industry (Amendment) Act, No. 3 of 2011,
the Life Insurance and General Insurance business carried by the 1 st
Defendant-Respondent has been segregated and the said General
Insurance business has been divested and transferred to Respondent.

04. The Plaintiff-Petitioner states that thus, the interest of the 1 st Defendant-
Respondent in the said General Insurance business including the Policy
of Insurance bearing No. NU0011CF0002039 and the Renewal
Endorsement bearing No: NU0012CFN0001133 has devolved on the
Respondent during the pendency of this action.

05. The Plaintiff-Petitioner states that Section 404 of the Civil Procedure
Code provides inter-alia that in the case of devolution of any interest
pending the action, the action may, with the leave of the court, be

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continued against the persons to whom such interest has come, either
in addition or in substitution for the person from whom it has passed.

06. The Plaintiff-Petitioner states that accordingly, it has become necessary


for the Plaintiff-Petitioner to make this applications under the Section
404 of the Civil Procedure Code seeking to substitute the Respondent in
place of the 1st Defendant-Respondent.

07. The Plaintiff-Petitioner states that in the aforesaid circumstances the


Plaintiff-Petitioner seeks the leave of Court to continue this action by
substituting the Respondent in place of the 1 st Defendant-Respondent.

08. The Affidavit of … the … of the Plaintiff- Petitioner is annexed hereto in


proof of the averments herein contained.

WHEREFORE the Plaintiff-Petitioner prays that Your Honour’s Court be


pleased to;

a. grant leave in terms of Section 404 of the Civil Procedure Code;

b. make Order substituting the Respondent in place of the 1 st Defendant-


Respondent as the 1st Defendant of this action;

c. Order costs;

d. grant such further and other relief as to the Court shall seem meet.

Registered Attorneys-at-Law for the Plaintiff-Petitioner

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