The Oriental Insurance Co. Ltd v. Smt. Santosh & ORS

$~6 * IN THE HIGH COURT OF DELHI AT NEW DELHI NATIONAL LOK ADALAT + MAC.APP. 565/2014 THE ORIENTAL INSURANCE CO. LTD .... Appellant Through:

Mr. Pradeep Gaur, Adv. with Ms. Bharati Meena, Assistant Manager for Insurance Co.

versus SMT. SANTOSH & ORS ..... Respondents Through:

Mr. Pankaj Kumar Deval, Advocate.

CORAM:

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

O R D E R

% 14.09.2019 1.

The matter has been mutually settled between the parties and the Insurance Company has agreed to reduce the Principal awarded amount by Rs.1,95,195/-. The Insurance Company has already deposited 75% of the awarded amount, i.e. 6,97,113/- along with interest in terms of the order of this Court. After settlement, the Insurance Company has agreed to pay the Principal amount of Rs.7,34,290/- along with the accrued interest. 2.

In view of the settlement arrived at between the parties, the Insurance Company is directed to deposit balance amount of Rs.37,177/- along with upto date interest @ 9% per annum from the

date of filing of the claim petition till the date of deposit before the Registrar General of this Court. The said amount of Rs.37,177/- along with interest @ 9% per annum shall be released to the respondentsclaimants in terms of the award. The deposited 75% of the awarded amount along with the interest shall also be released in terms of the award of the learned Tribunal.

3.

The Registrar General shall release the statutory amount of Rs. 25,000/- deposited by the Insurance Company along with interest, if any, to the Insurance Company subject to the fulfilment of requisite formalities. Consequently, the appeal stands disposed of accordingly. 4.

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