HIGH COURT LEGAL SERVICES COMMITTEE, BENGALURU BEFORE THE LOK ADALAT IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27TH DAY OF MARCH, 2019 CONCILIATORS PRESENT:
THE HON’BLE MR JUSTICE K. NATARAJAN & SRI. K.P. YOGANNA, MEMBER M.F.A.No. 9968/2018 (MV) (Lok Adalat No. 428/2019) BETWEEN M/s Oriental Insurance Co. Ltd., Puttur D.O, 2nd Floor, Beauty Plaza, Balmatta, Mangalore.
Now Rep. by its Manager, M/s Oriental Insurance Co. Ltd., Regional Office, M.G. Road, Bengaluru. … Appellant (By Sri. A.M. Venkatesh, Advocate) AND:
1. Mr. Suhail, S/o Bava, Aged about 21 years, R/at No.12-48(2), J.B. Manzil, Alekala, Ullal Post, Mangalore Tq., D.K - 575 001.
2. B. Sudhakar Shetty, S/o Vasu Shetty, Aged about 40 years, R/at Beedinamajalu House, Mitthuru Post, Idkidu Village, Bantwal Tq., D.K - 574 211. … Respondents (By Sri. G. Ravishankar Shastry, Advocate for R.1) THIS MFA FILED U/S 173(1) OF MV ACT AGAINST THE JUDGMENT AND AWARD DATED 26.09.2018 PASSED IN MVC NO.876/2016 ON THE FILE OF THE V ADDL. DISTRICT & SESSIONS JUDGE AND MEMBER, ADDL. MACT, D.K, MANGALURU, SITTING AT PUTTUR, D.K, AWARDING COMPENSATION OF RS.50,77,600/- WITH INTEREST AT THE RATE OF 7% P.A ON RS.50,37,600/- 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.52,00,000/- (Rupees Fifty-two Lakh only) instead of Rs.50,77,600/- with interest @ 7% 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 Tribunal.
4. Out of the enhanced compensation, Rs.32,00,000/- shall be released in favour of the Respondent No.1 - claimant towards medical expenses, on proper identification. The remaining amount of Rs.20,00,000/- to be kept in fixed deposit in any Nationalized/ Scheduled Bank in the name of respondent No.1 - claimant for a period of 10 years and he is entitled to receive the accrued interest periodically. However, liberty is granted if he requires for future medical expenses, he can move the application to the trial Court with required documents.
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