Bajaj Allianz General Insurance ... vs Satbir Singh And Ors
2021 Latest Caselaw 46 j&K

                                                                          S. No. 856
             HIGH COURT OF JAMMU AND KASHMIR
                            AT JAMMU
                                (Through Video Conference)

                                                 MA No. 26/2017
                                                 IA No. 1/2017

Bajaj Allianz General Insurance Co. Ltd.                 ...Appellant/Petitioner(s)

                 Through :- Mr. Sunny Mahajan, Advocate
                v/s<




Satbir Singh and ors.
't
                                                     .....Respondent (s)

                  Through :- Mr. Ankesh Chandel, Advocate
Coram:       HON'BLE MR. JUSTICE RAJNESH OSWAL, JUDGE
                       (Through Video Conference from High Court Jammu)

                                         ORDER

02.02.2021 The present appeal has been filed by the appellant-insurance company

against the award dated 16.11.2016 passed by the Motor Accident Claims Tribunal,

Jammu in file No. 38/Claim titled, S. Satbir Singh vs. Mohd Amin and others by

virtue of which, the learned Tribunal has awarded a compensation of Rs. 7,26,993/-

in favour of respondent No. 1-claimant along with interest at the rate of 7.5% per

annum till its realization.

During the course of hearing, both the counsels appearing for the

appellant as well as respondent No. 1, have reached to an amicable settlement,

whereby appellant-Insurance Company has agreed to pay a sum of Rs. 7.00 lacs

along with interest at the rate of 7.5% per annum except interest on amount on loss

of future income. Statement made by both the counsels is taken on record.

In view of the above, the judgment and award dated 16.11.2016 is

modified to the extent that the appellant-insurance company shall pay an amount of

Rs. 7.00 lacs in total as a full and final settlement along with interest as ordered by

the learned Tribunal vide order dated 16.11.2016 (supra). It is made clear that the

aforesaid amount of Rs. 7.00 lacks include the amount of Rs. 4,19367/- and on this

amount, no interest is payable. However, on the balance amount, interest shall

remain the same as ordered by the learned Tribunal.

At this stage, Mr. Sunny Mahajan, learned counsel for the appellant

submits that the whole amount has been deposited by the appellant with the Registry

of this Court.

The award is modified accordingly.

The Registry shall release the modified award in favour of respondent

No. 1-claimant after due verification. Excess amount, if any, shall be refunded in

favour of the appellant.

The appeal is disposed of.

(RAJNESH OSWAL) JUDGE JAMMU 02.02.2021 Rakesh Whether the order is speaking: Yes/No Whether the order is reportable: Yes/No

RAKESH KUMAR 2021.02.03 11:16 I attest to the accuracy and integrity of this document