National Insurance Company Limited v. Rinku And Others

$~36 * IN THE HIGH COURT OF DELHI AT NEW DELHI NATIONAL LOK ADALAT + MAC.APP. 100/2023 NATIONAL INSURANCE COMPANY LIMITED ..... Appellant Through:

Mr. Yuvraj Sharma, proxy counsel for Mr. Pankaj Seth, Advocate.

versus RINKU AND OTHERS ..... Respondents Through:

Mr. SN Parasar, Advocate.

CORAM:

DR. SUDHIR KUMAR JAIN, PRESIDING OFFICER MR. K. VENKATRAMAN, ADVOCATE (CO-MEMBER)

O R D E R

% 09.03.2024 Appellant insurance company has filed an appeal for reduction of the award dated 22.11.2022 passed by the Learned MACT awarding compensation of Rs.69,11,000/- along with interest @ 6.5% p.a. from the date of filing of petition till realization. On appeal, the insurance company deposited 75% of the awarded amount along with the up to date interest accrued thereon before the MAC Tribunal in terms of the order dated 27.02.2023 passed by this Hon'ble Court and direction was also issued to release the same in favour of The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

respondents/claimants as per the scheme of disbursal contained in the impugned award.

After comprehensive discussion, it is agreed between the parties that Principle amount of Rs.69,11,000/- shall be reduced to Rs.64,11,000/- along with interest @ 6.5% p.a. from the date of claim petition.

Learned Counsel for the Insurance Company also submits that the balance deficient amount in terms of the settlement along with interest @ 6.5% p.a. from the date of claim petition till the date of deposit be permitted to deposit within period of two months before the concerned tribunal.

Learned Counsel for the Insurance Company also submits that the statutory amount with interest, if any, may be refunded to the Insurance Company.

In view of the above, the Insurance Company is directed to deposit the balance deficient amount arrived in terms of the settlement along with interest @ 6.5% p.a. from the date of claim petition till the date of deposit before the concerned tribunal within a period of six weeks from today. The said amount be released to the respondents/claimants subject to fulfilment of all the requisite The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

formalities in terms of the award of the tribunal. It is further directed that the balance amount lying deposited be also released in favour of the respondents/claimants in terms of the award of the tribunal. Statutory amount with interest, if any, be refunded to the Insurance Company.

The present appeal along with the pending application(s), if any, is disposed of with directions in terms of the foregoing settlement.

A copy of this order be sent to concerned Ld. Tribunal with LCR, if requisitioned and received.

DR. SUDHIR KUMAR JAIN, J K. VENKATRAMAN, CO-MEMBER MARCH 09, 2024 N The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.