Shriram General Ins. Co. Ltd., Temple Road, Issued Office v. Sri. Siddaraju

THE HON’BLE MR. JUSTICE T.G.SHIVASHANKARE GOWDA & SMT. PARINEETA S. CHANAL, MEMBER M.F.A.No. 3400/2024 (MV) (Lok Adalat No. 2356/2024) BETWEEN: Shriram General Ins. Co. Ltd., Temple Road, Issued Office: E-b-RIICO Industrial Area, Sitapura, Jaipur, Rajasthan – 302 022, Represented by the Manager, Shriram General Ins. Co. Ltd., No.3/5, S.V. Arcade, III Floor, Bilakalli Main Road, Opp. B.G. Road, IIM Post, Bengaluru-79. ...APPELLANT (By Sri. A.N. Krishna Swamy, Advocate) AND 1.

#2. Sri. Siddaraju S/o Late Sannappa, Aged about 63 years. Smt. Mangalamma W/o Siddaraju, Aged about 63 years. 2

#3. Ravikumar S/o Siddaraju, Aged about 25 years. All are R/o T.K. Halli Village, Halagur Hobli, Malavalli Taluk, Mandya District.

#4. Shivananda T.M. S/o Maregowda, Major, R/o Thamasandra Circle, Kallahalli Post, Kanakapura Taluk, Ramanagara District. …RESPONDENTS (By Sri. Pramod R., Advocate for R-1 to R-3) THIS MFA FILED U/S 173(1) OF MV ACT AGAINST THE IN MVC JUDGMENT AND AWARD DATED 23.02.2024 PASSED NO.142/2017 ON THE FILE OF THE SENIOR CIVIL JUDGE AND MACT, MALAVALLI, AWARDING COMPENSATION OF RS.39,57,000/- WITH INTEREST @ 9% P.A. FROM THE DATE OF PETITION TILL THE DATE OF DEPOSIT. THIS APPEAL COMING ON FOR CONCILIATION BEFORE LOK ADALAT, THE FOLLOWING CONCILIATION ORDER IS PASSED: CONCILIATION ORDER The learned Counsel appearing for the Appellant – Insurance Company along with its representative are present. The learned Counsel appearing for the Respondents – claimants is present.

#2. After prolonged negotiations, the matter is settled. A joint memo signed by the learned advocate appearing for the respondents/claimants 3 (being authorized by the respondents/claimants to sign) and the learned advocate appearing for the appellant - Insurance Company and its authorized officer is filed. The respondents-claimants have agreed to receive and the appellant - Insurance Company has agreed to pay a sum of Rs.47,00,000/- (Rupees Forty Seven Lakhs only) (including Trial Court Award amount), in full and final settlement of the claim.

#3. The appellant – Insurance Company has agreed to deposit the said amount before the Tribunal within six weeks from the date of preparation of award, failing which the said amount shall carry interest at the rate of 9% P.A. from the date of default, till the date of deposit.

#4. In this appeal there are three claimants and out of the modified compensation amount, the respondent Nos.1 and 2 / claimants are entitled for a sum of Rs.17,00,000/- (Rupees Seventeen Lakhs only) each and respondent No.3 / claimant is entitled for a sum of Rs.13,00,000/- (Rupees Thirteen Lakhs only). Out of the shares of respondent Nos.1 and 2, a sum of Rs.7,00,000/- each shall be kept in Fixed Deposit in the names of respondent Nos.1 and 2 / claimants in any Nationalized / Scheduled Bank for a period of three years with liberty to withdraw the 4 accrued interest periodically. The remaining compensation of Rs.10,00,000/- each shall be released in favour of respondent Nos.1 and 2 / claimants and the entire share of respondent No.3 / claimant shall be released in his favour, on proper identification. The amount if any deposited before this Court, shall be transferred to the Claims Tribunal. Further, the amount in excess if any, shall be refunded to the appellant – Insurance Company.

#5. This Miscellaneous First Appeal stands disposed of in terms of the Joint memo. The Judgment and Award of the Tribunal shall stand modified accordingly. Draw up the Award accordingly. Sd/- JUDGE Sd/- MEMBER Rbv