Bajaj Allianz General Insurance Co. Ltd., v. V. Madana Gopal
The Hon'ble Sri Justice C.V.Nagarjuna Reddy and The Hon'ble Sri Justice G.Shyam Prasad MACMAMP.No.2428 of 2016 in/& MACMA No.2471 of 2016 Date: 10.08.2016 Between:
Bajaj Allianz General Insurance Co. Ltd., rep. by its Manager Hyderabad ..Petitioner/Appellant and V.Madana Gopal and 3 others ..Respondents Counsel for the petitioner/Appellant: Mr.T.Mahender Rao Counsel for respondent Nos.1 to 3: Mr.M.Bharavi The Court made the following:
Common Order: (Per the Hon'ble Sri Justice C.V.Nagarjuna Reddy) MACMA(Sr).No.36354 of 2015 is filed against award, dated 23-04-2015, in OP.No.1221 of 2010 on the file of the Motor Vehicles Accidents Claims
Tribunal -cum- XI Additional District Judge (FTC), Ranga Reddy District.
MACMAMP.No.2428 of 2016 is filed for passing a decree in the appeal in terms of Memorandum of Compromise entered into between the parties.
In the affidavit filed in support of MACMAMP.No.2428 of 2016, Mr.R.Lakshminarayana, Assistant Manager (Legal) of the petitioner/appellant- Company, averred that after filing of the appeal, respondent Nos.1 to 3 and their Counsel have approached the petitioner/appellant for an amicable settlement of their claim upon which the latter has agreed to pay a lump sum of Rs.62,83,223/- towards full and final settlement of the same.
The Memorandum of Compromise signed by Mr.R.Lakshminarayana, Assistant Manager (Legal), on behalf of the petitioner/appellant, respondent No.1 on behalf of himself and respondent Nos.2 and 3 and their respective Counsel has been filed along with the said affidavit.
At the hearing, both Mr.R.Lakshminarayana and respondent No.1 are personally present and both of them have affirmed the factum of execution of the Memorandum of Compromise.
Mr.T.Mahender Rao, learned Counsel for the petitioner/appellant, submitted that his client will deposit the aforementioned amount of Rs.62,83,223/- to the credit of OP.No.1221 of 2010 within one month from today.
Both the parties have agreed that on such deposit, respondent No.1 will withdraw the sum of Rs.2,16,000/- awarded in his favour and allow the balance amount to be kept in the fixed deposits in the names of respondent Nos.2 and 3 till they attain majority as per the award of the Tribunal.
In the light of the above, MACMAMP.No.2428 of 2016 is allowed, the Memorandum of Compromise is taken on record and MACMA(SR).No.36354 of 2015 is disposed of in terms of the Memorandum of Compromise.
______________________ (C.V.Nagarjuna Reddy, J)
_________________ (G.Shyam Prasad, J) Dt: 10th August, 2016 lur