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Judgment
10 paragraphs · 270 wordsBiraja Prasanna Satapathy, J
This appeal is taken up in the 4th National Level Lok Adalat through hybrid arrangement (virtual/physical) mode in presence of the Advocates/representatives of both the Appellant-Insurance Company and Claimants-Respondents.
Heard Mr. A.A. Khan, learned counsel for the Appellant-Company and Mr. K.C. Nayak, learned counsel appearing for Claimant-Respondent Nos.1 to 5.
Even though this appeal was filed challenging the Judgment dtd.21.12.2021 passed in MAC Case No. 81 of 2019 by the learned 4th MACT, Jajpur Road by awarding a sum of Rs.27, 31,000/- (Rs. Twenty seven lakh thirty one thousand) with interest @ 7% per annum payable from the date of application till its payment, but learned counsel for the Parties agreed to settle the dispute amicably.
Learned counsel appearing for the Claimants-Respondents submitted that the Claimants-Respondents will be satisfied on receipt of a sum of Rs.17,00,000/- (Rs. Seventeen lakhs) consolidated.
Mr. Khan, learned counsel appearing for the Appellant also accepted the said offer. In view of the same the present appeal is disposed of on the basis of compromise and with a direction on the Appellant-Company to pay consolidated amount of Rs.17,00,000/-(Rs. Seventeen lakhs) in favour of the Claimants-Respondents within a period of 8 weeks from the date of receipt of this order.
The aforesaid amount shall be deposited before the learned Tribunal within the aforesaid period and on such deposit learned Tribunal shall disburse the same in favour of the Claimants proportionately in terms of its Judgment dtd.21.12.2021.
The compromise petition filed by both the parties be kept on record.
The MACA is accordingly disposed of.
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