United India Insruance Co. Ltd. v. Bollapragada Ramadas

THE HON'BLE SMT JUSTICE ANIS CIVIL MISCELLANEOUS APPEAL No.1952 of 2004 JUDGMENT:

Pursuant to a settlement arrived at between the parties, the Lok Adalat, Hyderabad, passed the following award on 14.11.2014.

1) Sri K. Rajendra Prasad, Deputy Manager, United India Insurance Company Limited and Sri Tukaram, learned counsel for respondents/claimants are present. The matter has been settled amicably between the parties.

2) The respondents/claimants are agreed to receive reduced compensation amount of Rs.4,85,776/- with interest at 7.5% per annum against the awarded amount of Rs.5,05,776/- with interest at 12% per annum. 3) However, the amount already paid by the Insurance Company shall carry interest at 12% per annum as awarded by the Tribunal.

4) The interest at 7.5% per annum shall be levied only on the amounts, which are due as of today. Accordingly, settled. 5) The appellant/Insurance Company has to deposit the remaining amount along with interest @ 7.5% p.a from the date of petition till realization, within a period of two (2) months from the date of receipt of a copy of this award. In the event of default, the agreed amount shall carry interest at 12% per annum from the date of default.

6) The respondents/claimants are permitted to withdraw the amount as and when deposited by the Insurance Company.

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

8) No orders as to the costs of appeal.

In view of the award, dated 14.11.2014, passed by the Lok Adalat, Hyderabad, the Civil Miscellaneous Appeal is disposed of in terms of the award. Consequently, miscellaneous petitions, if any, pending in the appeal shall stand closed.

________ ANIS, J Date: 21st August, 2015

KL THE HON'BLE SMT JUSTICE ANIS CIVIL MISCELLANEOUS APPEAL No.1952 of 2004 Date: 21st August, 2015 KL