Shriram General Insurance Co Ltd v. Naima & ORS

$~22 * IN THE HIGH COURT OF DELHI AT NEW DELHI NATIONAL LOK ADALAT + MAC.APP. 99/2016 SHRI RAM GENERAL INSURANCE CO LTD ...Appellant Through:

Mohd. Mobashshir, Advocate on behalf of Mr. Sameer Nandwani, Advocate with Mr.Rama Raman, Manager.

versus NAIMA & ORS ..... Respondents Through:

Mr. S.N. Parashar, Advocate.

CORAM:

HON'BLE MR. JUSTICE CHANDER SHEKHAR MR. K. VENKATRAMAN (CO-MEMBER)

O R D E R

% 14.09.2019 1.

Appellant Insurance Company has filed an Appeal for reduction of compensation. The matter has been mutually settled between the parties wherein the principal amount of awarded compensation of Rs. 17,34,673/- has been reduced to Rs. 15,80,000/- as principal amount in favour of the claimants along with the interest accrued from the date of deposit by the Insurance Company. 2.

In view of the settlement arrived at between the parties, the learned Tribunal is directed to release Rs.15,80,000/- along with interest accrued from the date of deposit to the respondents-Claimants in terms of the award subject to compliance of all the requisite formalities. The Insurance Company shall be refunded the rest of the

amount lying deposited with the Tribunal alongwith the interest accrued thereon from the date of deposit. The Registrar shall release the statutory amount of Rs. 25000/- along with interest, if any, to the Insurance Company. Consequently, the appeal stands disposed of accordingly.

3.

Order be given dasti under the signatures of the Court Master. (CHANDER SHEKHAR) PRESIDING OFFICER (K. VENKATRAMAN) CO-MEMBER SEPTEMBER 14, 2019/rk