Cholamandalam Ms General Insurance Co Ltd v. Dharmendra Singh & ORS

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ MAC.APP. 339/2018 CHOLAMANDALAM MS GENERAL INSURANCE CO LTD ..... Appellant Through Mr. Suman Bagga and Mr. Pankaj Gupta, Advs.

versus DHARMENDRA SINGH & ORS ... Respondents Through Mr. S.N. Parashar, Adv. for R-1.

CORAM:

HON'BLE MR. JUSTICE A. K. CHAWLA MR. K. VENKATRAMAN (CO-MEMBER)

O R D E R

% 09.03.2019 Parties have mutually agreed to reduce the awarded amount to Rs.36,00,000/- (Rupees thirty six lakhs only) as lump sum towards full and final settlement. Insurance company already deposited 50% of the award amount with the Registrar General, Delhi High Court and out of which 50% of the deposited amount has already been released to the respondent No.1/claimant. Insurance company shall deposit a sum of 13 Lakhs by way of cheque before the DHCLSC within four weeks, failing which, it shall carry interest @ 9% p.a. on the delayed deposit. Payment so made shall be released by DHCLSC on verification in consonance with the terms of the impugned award.

It is further agreed between the parties that balance amount lying deposited with the Registrar General shall be released to the respondent No.1/claimant in terms of the award.

The impugned award stands modified to that effect. Consequently, the appeal and the pending applications shall stand disposed of. The statutory amount deposited for entertainment of the appeal alongwith interest, if any, shall be refunded to the insurance company. (A.K. CHAWLA) PRESIDING OFFICER (K. VENKATRAMAN) CO-MEMBER MARCH 09, 2019 rc