AI Structured Summary
Not yet generated for this judgment
No AI summary yet
Generate an eight-section analysis of this judgment — facts, issues, reasoning, ratio and a plain-language gist.
Judgment
13 paragraphs · 240 wordsV. Narasingh, J
This matter is taken up today in the 1st National Lok Adalat through Hybrid Mode for settlement on the basis of compromise.
Learned counsel Mr. Apat has entered appearance on behalf of the Respondent by filing Vakalatanama. The same is taken on record.
Heard learned counsel for the Appellant and learned counsel for the Respondents.
This appeal has been filed by the Appellant- Insurance Company.
As agreed to, the amount of compensation is modified as sum of Rs.8,00,000/- (Rupees Eight Lakh) consolidated. The compromise sheet signed by both the parties/their authorized representatives is taken on record.
Learned 1st M.A.C.T. Keonjhar, is called upon to reapportion the aforesaid agreed amount as per the impugned Award proportionately.
The default interest at the rate of 7% per annum is waived.
The awarded amount shall be deposited before the learned 1st M.A.C.T. Keonjhar within a period of two months from the date of receipt/production of this order.
Within six weeks of submission of proof regarding deposit of the modified amount before the Tribunal, the statutory deposit along with accrued interest be refunded to the Insurance Company as per procedure.
As the case is disposed of in the spirit of the Lok Adalat, no court fee is liable to be paid by the claimants.
The MACA is accordingly disposed of.
Urgent certified copy of this order be granted as per rules.