TaxTMI 
TaxTMI 
TaxTMI 
2000 (3) TMI 1129
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....attorney for opinion under Section 31 of the Act. The District Registrar opined that the document was an assignment of the benefit of a contract to be treated as conveyance under Article 20 of Schedule I-A of the Act and also the power of attorney under Article 42(c) of Schedule I-A, chargeable with higher duties. However, the District Registrar referred the matter under Section 56(2) of the Act, to the Commissioner of Survey, Settlements and Land Records. The Inspector General, Registration and Stamps, whose remarks were called for, confirmed the opinion of the District Registrar. On receipt of the remarks of the Inspector General, Registration and Stamps, a communication was sent from the Office of the Commissioner of Survey, Settlement and Land Records with the remarks of the inspector General to the District Registrar treating it as if it was the decision of the Chief Controlling Revenue Authority. The District Registrar accordingly adjudicated the document. Aggrieved by the said opinion of the District Registrar, Visakhapatnam, the petitioner-company filed a petition before the Chief Controlling Revenue Authority for reference. The Chief Controlling Revenue Authority thereafte....
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......" "We further agree that any monies collected from any carriers...... or any persons shall be your property". "We hereby appoint you, your officers and agents...... severally our agents and attorneys...... in fact with irrecoverable power to collect any and all such claims....." 6. The said document is intended to be executed by the petitioner-company in favour of the Insurance Company after receiving the compensation for the damages in terms of the Insurance policy in respect of the goods insured with the Insurance Company. Though the District Registrar opined that the document in question was an assignment of the benefit of a contract to be treated as a conveyance and also power of attorney, bur according to the Chief Controlling Revenue Authority, there is no conveyance of any property, and it is only a power of attorney authorising the Insurance Company to proceed against the transporter to recover the loss which is chargeable under Article 42(c) of the Act at the rate of Rs.20/-. 7. None appeared for the petitioner-company. 8. The learned Government Pleader for Revenue contended that the beneficial interest in the moveable property has been conveyed under the document....
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....rforms his obligations thereunder and assignment of a claim for compensation which one party has against the other for breach of contract. The latter is a mere claim for damages, which cannot be assigned in law; the former is a benefit under an agreement, which is capable of assignment. 12. The Supreme Court in the case of Union of India v. Sarada Mills Limited, : [1973]2SCR464, considered the issue regarding the assignment of rights under the policy of insurance and held that subrogation does not confer any independent right on the under writers to maintain in their own name and without reference to the persons assured, an action for damages. The right of assured is one of those rights, which are incidental to the property insured. In this case, the assured company on satisfaction of its claim for the loss and damage by the Insurance Company, has assigned all rights against the railway administration in favour of the insurer as subrogee and the letter of subrogation contains intrinsic evidence that the Mill would give the Insurance Company facilities for enforcing the rights, but the Insurance Company has chosen to allow the Mill to sue. It was held that the cause of action of th....
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....eld that though a formal alignment of the kind by the assured of his rights and remedies to the insurer was prohibited by Section 6(c) of the Transfer of Property Act but applying the general principle of Section 69 of the Indian Contract Act together with the principles applicable to contract of insurance in England, decreed the suit. 15. On further appeal, the High Court held that "on principles of English authority and having regard to the peculiar nature and effect of a contract of insurance providing cover for motor vehicles against risks, the view of the Principal Judge, City Civil Court, as to the maintainability of suit such as this brought by an insurer, is correct. But. the judgment can be sustained, not on the ground of subrogation, which is its basis, but on the ground of assignment by the assured of his rights to the insurer". A contract of motor insurance, is, one of the indemnity. It is implied in the very nature of the contract of indemnity that the indemnifier is entitled to recoup or minimise the damages, in other words, arising out of the nature of a contract of indemnity, the insurer, when he has indemnified the assured, he is subrogated to his rights and remed....