Section 393
Insurance Of House To Be Procured
(1) A tenant who rents a
house for industrial or business purpose shall procure the insurance
of the house for its security.
Explanation: For the purposes of this Section, the term
'industrial or business purpose' means the operation of any
industry or carrying on a business or trade by having a departmental
store or one or more than one shop.
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(2) If the person obliged to procure insurance pursuant to
sub-section (1) fails to procure insurance of the house and the house
is damaged by such cause as disaster, unrest, riot or fire, the tenant
shall be liable for such damage.