The National Insurance Company Limited v. Akkireddy Shyamala

HON'BLE SMT. JUSTICE T. RAJANI M.A.C.M.A. No. 1331 OF 2008 JUDGMENT:

This appeal is placed before me following the award passed by the Lok Adalat, dated 11.02.2017. The terms of which are as follows: "1.

Claimant No.1 - Akkireddy Shyamala, Claimant No.2 - Akkireddy Shankarakka and Claimant No.3 - Akkireddy Shailaja are present along with their counsel Sri V. Subramanyam and Sri A. Veera Swamy, learned counsel for the appellant/respondent No.3 is also present. Both parties have stated that the dispute has been amicably resolved and a compromise was entered into whereunder the claimants agreed to forego a sum of Rs.1,00,000/- out of the awarded principal amount of Rs.15,24,000/- and receive the balance amount of Rs.14,24,000/- with interest at 7.5% per annum from the date of petition till realization.

2.

Accordingly, the award is passed for the above said total agreed amount of Rs.14,24,000/- with interest at 7.5% per annum from the date of petition till realization in full and final settlement of all claims against the appellant/insurance company.

3.

The 3rd respondent/insurance company shall deposit the balance amount within 60 days from this date after giving a credit to the amounts already deposited.

4.

The respondents/petitioners are permitted to withdraw their respective share as per the apportionment made by the Tribunal as and when deposited by the 3rd respondent/insurance company. Accordingly, the matter is settled.

5.

The parties are informed that the court fee, if any, paid by any of them shall be refunded.

6.

No orders as to the costs of appeal."

In view of the above, the appeal stands disposed of. Miscellaneous petitions, if any, shall also stand disposed of. No costs.

_____________________ T. RAJANI, J Date: 03.03.2017 ES