THE HON'BLE SRI JUSTICE C. PRAVEEN KUMAR
M.A.C.M.A.No. 2159 of 2008
JUDGMENT:-
Pursuant to a settlement arrived at between the parties, the
Lok Adalat, Hyderabad passed the following award on 11.09.2014:
1) Sri S.Murali Krishna, Manager for New India
Assurance Company Limited and Sri S.Srinivas,
learned counsel for the claimant in OP are present. The
matter has been settled amicably between the parties.
2) The respondent/claimant agreed to receive reduced
compensation amount of Rs.90,000/- (Rupees ninety thousand only) along with interest at 7.5% per annum from the date of petition till realization against the awarded amount of Rs.1,00,000/- (Rupees one lakh only) with interest at 9% per annum. Accordingly settled.
3) The Insurance Company is to deposit an amount of Rs.90,000/- (Rupees ninety thousand only) along with interest @ 7.5% p.a. from the date of petition till realization, within a period of two (02) months from the date of receipt of a copy of this award after giving due credit to the amount already deposited. In the event of default, the agreed amount shall carry interest at 12% per annum from the date of default.
4) The Respondent/Claimant is permitted to withdraw the amount as and when deposited by the Insurance Company.
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 award dated 11.09.2014 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.
__________________ C. PRAVEEN KUMAR, J 24.09.2014 gkv