The Oriental Insurance Co Ltd v. Jai Singh & ORS

$~1 * IN THE HIGH COURT OF DELHI AT NEW DELHI NATIONAL LOK ADALAT + MAC.APP. 703/2018 THE ORIENTAL INSURANCE CO LTD .... Appellant Through:

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

versus JAI SINGH & ORS ..... Respondents Through:

Mr. Gaurav Sood, Advocate alongwith R-1, Claimant in person.

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.11,50,000/- (Rupees Eleven Lacs Fifty Thousand Only) has been reduced to Rs.9,00,000/- (Rupees Nine Lacs Only) as principal amount in favour of the claimants along with the interest accrued. 2.

In view of the settlement arrived at between the parties, the principal amount of Rs. 9,00,000/- along with the interest deposited and interest accrued shall be released to the respondent-claimant in terms of the award of the learned Tribunal subject to compliance of all the requisite formalities. The Insurance Company shall be refunded a

sum of Rs. 2,50,000/- (Rupees Two Lacs Fifty Thousand Only) along with the interest deposited and the interest accrued thereof. The Registrar General of this Court shall release the statutory amount of Rs. 25000/- along with the accrued 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