Rakesh Kumar Trivedi v. Shriram General Insurance Co Ltd

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ MAC.APP. 426/2017 RAKESH KUMAR TRIVEDI ..... Appellant Through Mr. Pankaj Kumar Deval, Adv.

versus SHRIRAM GENERAL INSURANCE CO LTD ..... Respondent Through Mr. Pankaj Singh Thakur, Adv.

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 resolve the subject matter and thereunder, the respondent Insurance company has agreed to pay a sum of Rs.2,50,000/- (Rupees Two Lacs Fifty Thousand only) over and above the amount payable in terms of the impugned award as full and final settlement. But for 10% of the enhanced amount of Rs.2,50,000/- i.e. Rs.25,000/-, the remaining amount shall be kept in Fixed Deposit for a period of five years in a Nationalized Bank. However, the interest accruing on such amount may be released to the claimant as may be beneficial to him on monthly or yearly basis.

Parties have also mutually agreed that the claimant shall be at liberty to approach MACT for the pre-mature release of such enhanced amount as the exigencies may require, which shall be duly considered. The impugned award stands modified to that effect. Consequently, the appeal shall stand disposed of.

(A.K. CHAWLA) PRESIDING OFFICER (K. VENKATRAMAN) CO-MEMBER MARCH 09, 2019 rc