Mumbai: Sunken boat on which Ark Deck Bar operated was insured for Rs 3.65 crore

Floating restaurant Ark Deck Bar capsizes near Bandra, in Mumbai on Saturday. Pic/PTI

The owners of MV Avior (the boat on which Ark Deck Bar was operated) had insured the boat for Rs 3.65 crore (for complete loss cover), and had also taken hull machinery insurance of Rs 10 lakh.

Highly-placed shipping industry sources revealed that the insurance was taken by the owners, M/s Sea Glimpse Investment (Pvt) Ltd, a Nariman Point-based company, on December 30, 2017, at a premium of Rs 3,45,150 from New India Assurance company for a period of one year.

Meanwhile, shipping experts say that the company hired for the salvage operation will need to submit a salvage plan and get permissions from the Maharashtra Maritime Board and other agencies, and only once the plan is approved, will the work begin.

A shipping expert who did not wish to be identified said, "The salvage operation should be started at the earliest, as the monsoon could set in soon and make such operations not only risky but also time-consuming and expensive." He further pointed that the spot where the vessel is sunk experiences high tidal currents, and the probability of the anchored chains, breaking or the wreckage moving away from its current position cannot be ruled out. The salvage operation may take at least a week.

Also read - Mumbai floating restaurant sinks: Salvage ops to begin in 48 hrs, say officials

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