THE HON’BLE SRI JUSTICE C. PRAVEEN KUMAR M.A.C.M.A.No. 4202 of 2008
JUDGMENT:-
Pursuant to a settlement arrived at between the parties, the Lok Adalat, Hyderabad passed the following award on 09.07.2014:
1) Sri Chandra Sekhar and Sri Jagan Mohan, learned counsel for appellants/claimants and Smt. Sandhya Rayaprolu, Deputy Manager, United India Insurance Company Limited are present. The matter has been settled.
2) The respondent No.2-Insurance Company agreed to pay an amount of Rs.50,500/- (Rupees fifty thousand five hundred only) along with interest at 7.5% per annum over and above the awarded amount of Rs.1,74,500/- with interest at 7.5% per annum from the date of petition till the date of realization. Thus, in all, the appellants/claimants are entitled to Rs.2,25,000/- with interest at 7.5% per annum from the date of OP till the date of realization.
3) The respondent No.2-Insurance Company agreed to deposit an amount of Rs.2,25,000/- (Rupees Two lakhs twenty five thousand only) with interest at 7.5% p.a. from the date of petition till the date of realization, after giving due credit to the amount already deposited, within a period of two (2) months from the date of receipt of a copy of this award. In the event of default, the agreed amount shall carry interest @ 12% per annum from the date of default.
4) The appellants/claimants are permitted to withdraw the awarded amount as per the apportionment made by the tribunal, without furnishing any security as and when deposited by the respondent No.2-Insurance Company.
5) The parties are informed that the court fee, if any, paid by any of them shall be refunded.
6) No orders as to the costs of appeal.
In view of the award dated 09.07.2014 passed by the Lok Adalat, Hyderabad, the Civil Miscellaneous Appeal is disposed of in terms of the award. Consequently, miscellaneous petitions, if any, pending in the appeal shall stand closed.
C. PRAVEEN KUMAR, J 5th August, 2014 cbs THE HON’BLE SRI JUSTICE C. PRAVEEN KUMAR M.A.C.M.A.No. 4202 of 2008 cbs 5th August, 2014