Section 23 : Provision concerning subrogation

1) In case any person has concluded a contract with any other person against any loss or damage that could be caused by a third person to his/her property, facilities, rights, or profits that could result from his/her business, the other person who has signed the contract shall him/herself bear any such loss or damage irrespective of who is responsible.

Provided that, in case the contract has been signed with a provision to have any such loss or damage borne by any other person, such loss or damage shall be realized from that person.

2) In case the amount or compensation to be paid for any loss or damage under sub-section (1) has been mentioned in the contract, it shall be done accordingly, and in case no such provision has been made in the contract, an appropriate amount or compensation shall be paid, or arrangements be made for payments, to the person affected by the loss or damage, or to his/her heir in case he/she is dead.

3) In case there has been any loss or damage, as mentioned in sub-section (1), the person paying the amount or compensation under sub-section (2) shall be deemed to have subrogated the person who has sustained the loss or damage, and, accordingly, the subrogation may have the amount of compensation in consideration of such loss or damage recovered from the person causing such loss or damage.