(1) Except where the owner of
goods or his or her agent has clearly declared at the time of
conclusion of the contract that the value of the goods to be carried
is more or except as otherwise provided for in the contract, the
compensation for any loss or damage to the goods carried by the
carrier shall not exceed one hundred thousand rupees.
(2) Notwithstanding anything contained in sub-section (1),
the carrier shall not be liable for any loss or damage to any gold,
silver, diamond, jewelry or articles made thereof, precious stone,
bill of exchange, security, document registered at office, certificate
issued by an academic and other institute, coin, bank note, postal
stamp, fish, meat, fresh fruits and vegetable, insecticide and toxic
material, inflammable material, petroleum product, precious fine art
work, idol, curio goods or glass or goods made of glass or highly
breakable or fragile goods, wildlife and domestic animal, handicraft
product, arms and ammunition, explosive, electronic equipment
(radio, television, computer, mobile or similar other good) and their
spare parts, machinery and such goods as specified by the law to be
declared by the owner before the carriage, except where the owner
or his or her agent has made explicit declaration at the time of the
conclusion of contract or at the time of handing over of the goods to
the carrier for carriage.
(3) For the purpose of bearing the risks involved in the
carriage of goods under sub-section (2), the carrier may insure the
goods through the owner of the goods or his or her agent or insure
the goods by himself or herself having charged separate fee to the
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owner or the carrier may make other necessary provisions for
preventing the risks.