Chandigarh, June 16 -- The State Consumer Disputes Redressal Commission, Chandigarh, has upheld findings of deficiency in service against Oriental Insurance Company Ltd. and directed it to pay Rs.1.24 crore along with interest to Derabassi based Chereso Life Sciences Pvt Ltd in a dispute arising from a major factory fire in January 2023.

According to the order, a fire broke out at the company's manufacturing unit on January 13, 2023, causing extensive damage to stock and other assets. Chereso Life Sciences lodged an insurance claim of over Rs.2.28 crore. After investigating the matter, the insurer's surveyor assessed the net admissible loss at Rs.32.03 lakh, which was paid to the company in July 2023.

The company accepted the payment "u...