Eight private jets owned by corporate houses were irreparably damaged in the Chennai floods last December. The planes had been submerged under water for a prolonged period and the water entered the entire aircraft.
The eight jets, belonging to TVS Motor, Sun TV, Kalyan Jewellers, the Joyalukkas group and others, have a combined insured value of around Rs 500 crore and the entire claim value will have to be borne by insurance companies.
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