This case came up for settlement before the Lok Adalat. Both the parties present. The counsel for the appellant Mr.G.Jawahar Ravindran and the counsel for the respondent 1 to 4 Ms.A.Banumathy are present. After mutual discussion, negotiation, mediation and conciliation between both parties and with the assistance of the Bench, both sides consented for settlement.
AWARD The Tribunal has awarded a sum of Rs.26,61,852/- as compensation. Aggrieved the same, the appellant/Insurance Company has filed this Appeal.
This matter has been listed before the National Lok Adalat on 12.03.2022. After negotiation, both parties agreed with the compensation of Rs.28,00,000/-, with the rate of interest at 7.5% from the date of petition. The respondents/claimants have signed the said award. However, the higher officials of the appellant/Insurance Company have not accepted the enhanced award amount and hence, they refused to sign the award.
When the matter is taken up today, the parties have agreed the amount as awarded by the Tribunal. Accordingly, the award passed by the Tribunal to the tune of Rs.26,61,852/- along with interest at the https://www.mhc.tn.gov.in/judis rate of 7.5% p.a.,is confirmed. The appellant-Insurance Company has already deposited 50% of the award amount and the same was already withdrawn by the major claimants. The appellant-insurance company is directed to deposit the balance amount within a period of four weeks from the date of receipt of a copy of this order. On such deposit being made, the claimants are permitted to withdraw the same without filing any formal petition, as apportioned by the Tribunal. The share amount of the minor claimant Nos.2 and 3 is to be deposited in any one of the nationalized bank, till they attaining majority and the 1st claimant is permitted to withdraw the interest amount of the deposited amount of the minor claimants, once in three months.
Divisional Manager, The Oriental Insurance Company Limited, Gopal Rav Library Buildings 1st Floor, Town Hall Road, Kumbakonam.
Counsel for the Appellant/s
1.Usha
2.Ammakannu Counsel for the Respondent/s This Lok Adalat award is passed in terms of the above settlement.
The full Court fee paid shall be refunded to the appellant in the manner provided under Section 69-A of the Tamilnadu Court Fees and Suits Valuation Act, 1955 and the Court Fees Act, 1870 as provided for under sub Sec.1 of
Section 21 r/w 25 of LSA Act 1987 as amended in 1994.
JUDGE MEMBER MEMBER To: The Parties/Advocate concerned Copy To
1. The Additional District Judge, Pudukottai.
2. The Officer-in-Charge, High Court Legal Services Committee, Madurai.
3. The Section Officer, V.R. Section, Madurai Bench of Madras High Court, Madurai.
Typed By M.Y.NASEERA BANU PA To The Hon'ble Judges https://www.mhc.tn.gov.in/judis