HIGH COURT LEGAL SERVICES COMMITTEE, BENGALURU BEFORE THE LOK ADALAT IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 02ND DAY OF APRIL, 2019 CONCILIATORS PRESENT:
THE HON’BLE MR JUSTICE B. VEERAPPA & SRI. M.N. UMASHANKAR, MEMBER M.F.A.No. 8508/2018 (MV) (Lok Adalat No. 479/2019) BETWEEN The Oriental Insurance Co. Ltd., S.S. Complex, Suhash Sekwar, Hassan.
Rep. by Regional Office, T.P. Hub No.44/45, Leo Shopping Complex, Residency Road Cross, Bengaluru - 560 025.
By its duly Constituted Attorney. … Appellant (By Sri. C.R. Ravishankar, Advocate) AND:
1. Sri. Javaraiah @ Thammaiah, S/o Sri. Thimmaiah, Aged about 40 years, R/at Cholambali Village, Hirisave Hobli, Channarayapatna Taluk, Hassan District.
2. Smt. Suma K, W/o Sri. Jaykumar, Major, R/at No.8, Ramaswamy street, Valayalakkara street, Sendamangala, Namkal, Tamil Nadu - 637 001. … Respondents (By Sri. H.T. Jagadeesh, Advocate for C/R.1) THIS MFA FILED U/S 173(1) OF MV ACT AGAINST THE JUDGMENT AND AWARD DATED 04.07.2018 PASSED IN MVC NO.1434/2016 ON THE FILE OF THE 4th ADDL. DISTRICT & SESSIONS JUDGE, HASSAN DISTRICT (SITTING AT CHANNARAYAPATNA), AWARDING COMPENSATION OF RS.5,85,000/- WITH INTEREST @ 9% P.A ON RS.5,62,000/- FROM THE DATE OF PETITION TILL REALIZATION.
THIS APPEAL COMING ON FOR CONCILIATION BEFORE LOK ADALAT, AFTER BEING REFERRED BY THE COURT, THE FOLLOWING CONCILIATION ORDER IS PASSED.
CONCILIATION ORDER The learned Counsel for the Appellant - Oriental Insurance Company Limited along with its representative and the learned Counsel for the Respondent No.1 - claimant are present.
2. After prolonged negotiations, the matter is settled. The Appellant - Insurance Company has agreed to pay and the Respondent No.1 - Claimant has agreed to receive a lump-sum of Rs.6,35,000/- (Rupees Six Lakh Thirty-five Thousand only) instead of Rs.5,85,000/- with interest @ 9% p.a awarded by the Tribunal, in full and final settlement of the claim. A joint Memo is filed on behalf of the parties to this effect.
3. The Appellant - Insurance Company has agreed to deposit the said amount before the Tribunal within six weeks from the date of preparation of award, failing which the said amount shall carry interest at the rate of 9% P.A. from the date of default, till the date of deposit. The amount if any deposited before this Court shall be transferred to the jurisdictional Tribunal forthwith.
4. Out of the compensation amount, 50% shall be released in favour of the Respondent No.1 - claimant, on proper identification and the remaining 50% amount shall be kept in fixed deposit in any Nationalized/ Scheduled Bank in the name of respondent No.1 - claimant for a period of three years with a liberty to withdraw the accrued interest periodically.
5. This Miscellaneous First Appeal stands disposed of in terms of the Joint memo. The Judgment and Award of the Tribunal shall stand modified accordingly. Draw up the Award accordingly.
Sd/- JUDGE Sd/- MEMBER LL