HIGH COURT LEGAL SERVICES COMMITTEE, BENGALURU BEFORE THE LOK ADALAT IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 9TH DAY OF MARCH, 2019 CONCILIATORS PRESENT:
THE HON’BLE MR JUSTICE S.G. PANDIT & SRI. N.DINESH RAO, MEMBER M.F.A.No. 4109/2017 (MV) (Lok Adalat No. 2288/2018) BETWEEN 1. Sri. Rajesh @ Rajesh Shetty, S/o. Late. Narayana Shetty, Aged about 48 years, 2. Mrs. Vedavathi, W/o. Rajesh @ Rajesh Shetty, Aged about 47 years, Both are residing at H No.93/4, Ungilabailu House, Badagakarandooru Village, Belthangady Taluk, D.K.-574242. ... Appellants (By Sri. Ravishankar Shastry G, Advocate) AND 1. Sri. Babu S. Acharya, S/o. Sheena Acharya, Adult, R/at Shrinbivasa Kumerabettu, Moodubelle Village, Udupi Taluk & District-576008.
2. New India Assurance Co. Ltd., 1215, 12th Floor, Naurang House, 21, Kasturba Gandhu Marg, New Delhi-110001, Reg. By its Divisional Office, The New India Assurance Co. Divisional Office, 4th Floor, Fortune Avery Junction, Above Malbar Gold, Falnir, Mangaluru Taluk, D.K. District represented by Its Divisional Manager-575003. ... Respondents (By Sri. D S Sridhar, Advocate for R.2 Notice to R.1 d/w v/o dated 29.11.2018) MFA FILED U/S 173(1) OF MV ACT AGAINST THE JUDGMENT AND AWARD DATED 10.03.2017 PASSED IN MVC NO.527/2016 ON THE FILE OF THE IV ADDITIONAL DISTRICT JUDGE, MEMBER, MACT, DAKSHINA KANNADA, MANGALORE, PARTLY ALLOWING THE CLAIM PETIITON FOR COMPENSATION AND SEEKING ENHANCMENT OF COMPENSATION.
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 appellants - claimants and the learned Counsel for the respondent – New India Assurance Company Limited along with its representative are present.
2. After prolonged negotiations, the matter is settled. The Appellants -Claimants have agreed to receive and the Respondent – Insurance Company has agreed to pay a lump-sum of Rs.7,75,000/- (Rupees Seven Lakhs Seventy Five Thousand only), in addition to what has been 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 Respondent – 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.
4. Out of the enhanced compensation of Rs.7,75,000/-, an amount of Rs.3,87,500/- shall be kept in fixed deposit in any Nationalized/Scheduled bank in the name of appellants equally for a period of ten years, the appellants are at liberty to withdraw the interest periodically. The remaining amount of Rs.3,87,500/- shall be released in favour of the appellants – claimants equally, on proper identification.
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 RB