Judgment · High Court

(O\( Iii \TOR Z PR13SE I: THE HON’BLE MR.JUSTICE N.KPATIL MR. NS,KULKARNI , MEMBER M F \. \ i214 (11 2O/ (\T\ I 4jd \ 13 El \k 1313 Veer na (13 d S a Lat 4J [3heernar n (ca dd. P u \IuUtn ‘ H’ L F r sc a N P 13 liH ‘ D13 i -I

The Branch Manager, National Insurance Co. Ltd., Bellarv.

R.Manjunatha, S/o R Ranganatha, Major, owner of Hero Honda Motor Cycle No.KA-34-L-9312, R/o. Sadashiva Nagar, Siruguppa Town, Bellarv district.

The Manager, New India Assurance Company Limited, Bellar. Respondents (By Sri. R.R.Mane, Advocate for R2; Notice to Ri is dispensed with yb dated 20.4.20 10; R3 and R4 deleted yb dated 20.4.20 10) **** This MFA filed u/s 173(1) of MV Act against the Judgment and Award dated 18.7.2007 passed in MVC No.37/2006 on the file of the Civil Judge(Sr.Dn4 and Member, MACT-6, Kudligi, partly allowing the claim petition for compensation and seeking enhancement of compensation. This Appeal coming on for conciliation before Lok Adalat, after being referred by the Court, the following Conciliation Order is passed. :CONCILIATION ORDER: The learned counsel for the appellant, the learned counsel second respondent representative are present.

2. After due deliberation in the matter, they have arrived at a settlement. The second respondent has agreed to pay a sum of Z2,00.000/- (Rupees Two Lakhs only) without interest, in addition to the amount already awarded by the Tribunal. The Appellant has agreed to receive the said amount in full and final settlement of the claim.

3. The second respondent has agreed to deposit the amount before the Tribunal within six weeks from the date of preparation of the award, failing which the amount shall carry interest at the rate of 9% per annum from the date of default, till the date of deposit.

4. The parties have filed a Joint Memo in terms of their settlement. The settlement is in the best interest of the parties and therefore, accepted.

Accordingly, the Judgment and Award dated 18.7.2007 passed in MVC No.37/2006 on the file of the Civil I — 4 Judge(Sr.Dn.) and Member, MACT-6, Kudligi, stands modified in terms of the Joint Memo. Out of the enhanced compensation of ?2,00,000/-, 50%. shall be invested in the Fixed Deposit in the name of appellant, for a period of five years, renewable by another five years? with liberty reserved to him to withdraw the interest accrued on it, periodically. Remaining 50% shall be released in favour of the appellant immediately on deposit by the Insurer. Draw up the award accordingly. Sd/ JUDGE tsfl4